Capistrano Beach Chapter 13 Lawyer
Do You Need a Chapter 13 Bankruptcy Attorney?
It’s time to consider bankruptcy if your life has been taken over by looming foreclosure, constant badgering phone calls from creditors, lawsuits or garnishments of your wages or property. Or maybe your debt has you trapped due to the amount of each payment and the extent of the debt. There are many kinds of debt that can get you into these situations, including medical bills, credit card balances, falling behind on your mortgage, loans and back taxes owed to the government and even car repossessions.
Chapter 13 Bankruptcy Lawyers Near Me in Capistrano Beach CA
Experienced, professional bankruptcy attorneys understand the difficulties and worries you face. We know your best options. We are here to help and will work with you to alleviate your financial uncertainty. Even before your bankruptcy petition is filed, an attorney can help shield you from creditor harassment. In a non-judgmental and supportive way, we can help you understand your options, the process of filing for bankruptcy, and help lift the burden of financial uncertainty.
Free Bankruptcy Consultation – Call Now (855) 997-4655
Ventura County Bankruptcy Attorney, The Bankruptcy Experts, are dedicated BK Lawyers with over 10 years experience in dealing with the complex issues concerning bankruptcy. We have the skills and expertise to handle any type of bankruptcy problems you might be experiencing. We proudly offer our services to businesses and individuals throughout Los Angeles and the surrounding areas.
You may feel hopeless, and at the mercy of a faltering economy, but don’t despair. Relief is available, and there is no shame in using the law to protect yourself when you are buried under a pile of debt. You aren’t responsible for the economy, and you didn’t create the mortgage crisis. So use the law to protect yourself and your family.
A Second Chance
Bankruptcy laws are in place to help Americans get a second chance when they are snowed under by economic pressures. You have rights, including the right to be free from harassment by creditors. If your creditors are hounding you, you can make them pay. And if your debt has become more than you can manage, you may be able to file for bankruptcy.
In Chapter 13 bankruptcy, you propose a payment strategy to your financial institutions, and it typically lasts three to five years. It offers to pay all or part of your debt from any future earnings you earn. You can utilize Chapter 13 to make up missed out on vehicle payments, pay back taxes you owe, prevent a bank from foreclosing on your home, keep non-exempt property that you consider important, stop interest from gaining on your tax debt, and a lot more. When you follow the terms of your contract to repay your debts, all of your remaining dis-chargeable debts would be released at the end of the payment period. The financial quantity appointed to financial institutions under a Chapter 13 bankruptcy need to amount to the amount they would have received if a Chapter 7 bankruptcy had actually been submitted. To file Chapter 13 bankruptcy, you need to have a “routine income source” and non reusable income to apply to your payments. Especially when you live in Capistrano Beach CA or in a nearby city.
Usually, a chapter 13 bankruptcy is utilized when you want to keep safe assets, such as a car or home, where you have more equity in the secured assets that you can protect by utilizing your bankruptcy exemptions. It’s a reorganization of the financial obligations you owe your creditors that are not non-dischargeable debts.
A Chapter 13 bankruptcy enables you to make up your past due payments with time and to restore your initial repayment agreement. It might likewise be a better choice when you have a valuable non-exempt home that you want to keep. To keep a non-exempt residential or commercial property, you should pay the creditor for the value of the home.
An exemption limit would apply to any equity you have in the residential or commercial property. Equity is merely a difference in between the value of the property and what you owe on it. For instance, if you have actually a truck valued at $10,000 with a loan of $8,500, the truck just includes equity of $1,500. When you have a property that is held by a loan, the equity you own because residential or commercial property is covered by your exemptions. That is if you are current on your payments. Likewise, if you opt to keep making your regular payments on the loan, you can keep the property throughout and after your bankruptcy term is complete. If the equity is not covered by your exemptions, your creditor might choose to sell off that property and after that distribute the money resulting from the sale. In this case, you would be entitled to the value of your exemption in the sold-off asset as a cash payment. Existing bankruptcy laws enable a couple filing together to each claim a complete set of exemptions, indicating more property can be secured. All of this is common in California and throughout the region, and remember, the time to do something is now.
The non-dischargeable debts you can not eliminate in bankruptcy include debts for personal injury/death brought on by DWI/DUI, back kid assistance, spousal support, debts associated with household support, student loans, earnings tax financial obligations within the last 3 years in addition to other tax financial obligations, charges for traffic tickets, criminal restitution, and any debts you forget to list in your bankruptcy papers, unless you notify the creditor of your bankruptcy case. Other than those non-dischargeable financial obligations, whatever else included in your bankruptcy case will be discharged at the end of your agreed upon bankruptcy period.
Map of Capistrano Beach CA
The Bankruptcy Experts
1605 W. Olympic Blvd. Suite 1024
Los Angeles, CA 90015
Monday – Friday: 8:00am – 6:00pm
Saturday: 10:00am – 4:00pm