Fillmore 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 Fillmore 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
Orange 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 lenders, and it normally lasts 3 to 5 years. It provides to pay all or part of your debt from any future earnings you make. You can utilize Chapter 13 to make up missed automobile payments, pay back taxes you owe, avoid a bank from foreclosing on your house, keep non-exempt residential or commercial property that you consider valuable, stop interest from gaining on your tax debt, and a lot more. When you follow the regards to your arrangement to repay your financial obligations, all your remaining dis-chargeable debts would be launched at the end of the payment period. The financial amount assigned to financial institutions under a Chapter 13 bankruptcy need to be equal to the quantity they would have received if a Chapter 7 bankruptcy had actually been filed. To file Chapter 13 bankruptcy, you need to have a “routine income source” and non reusable income to apply towards your payments. Especially when you live in Fillmore CA or in a nearby city.
Generally, a chapter 13 bankruptcy is used when you want to keep secured assets, such as a car or home, where you have more equity in the protected properties that you can protect using your bankruptcy exemptions. It’s a reorganization of the debts you owe your creditors that are not non-dischargeable financial obligations.
A Chapter 13 bankruptcy allows you to make up your past due payments over time and to reinstate your initial payment contract. It may also be a better option when you have a valuable non-exempt home that you want to keep. To keep a non-exempt home, you should pay the financial institution for the worth of the home.
An exemption limitation would apply to any equity you have in the property. Equity is simply a distinction in between the worth of the property and exactly what you owe on it. For example, if you have actually a truck valued at $10,000 with a loan of $8,500, the truck just consists of equity of $1,500. When you have a home that is held by a loan, the equity you own because home is covered by your exemptions. That is if you are current on your payments. Also, if you choose to keep making your regular payments on the loan, you can keep the property throughout and after your bankruptcy term is total. If the equity is not covered by your exemptions, your creditor might choose to sell that property and after that distribute the cash resulting from the sale. In this case, you would be entitled to the value of your exemption in the sold-off possession as a money payment. Current bankruptcy laws enable a married couple filing together to each claim a complete set of exemptions, indicating more property can be protected. 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 erase in bankruptcy consist of financial obligations for personal injury/death triggered by DWI/DUI, back kid support, alimony, financial obligations associated with family support, student loans, income tax debts within the last 3 years in addition to any other tax financial obligations, penalties for traffic tickets, criminal restitution, and any financial obligations you forget to list in your bankruptcy papers, unless you notify the creditor of your bankruptcy case. Besides those non-dischargeable financial obligations, whatever else included in your bankruptcy case will be discharged at the end of your decided upon bankruptcy duration.
Map of Fillmore 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