Hawaiian Gardens 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 Hawaiian Gardens 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
Los Angeles 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 repayment strategy to your financial institutions, and it usually lasts 3 to 5 years. It offers to pay all or part of your financial obligation from any future income you earn. You can utilize Chapter 13 to make up missed automobile payments, repay taxes you owe, avoid a bank from foreclosing on your house, keep non-exempt property that you deem valuable, stop interest from gaining on your tax financial obligation, and much more. When you follow the regards to your contract to repay your debts, all your remaining dis-chargeable financial obligations would be released at the end of the repayment period. The monetary quantity appointed to lenders under a Chapter 13 bankruptcy must be equal to the amount they would have received if a Chapter 7 bankruptcy had been submitted. To file Chapter 13 bankruptcy, you must have a “routine income source” and non reusable earnings to use to your repayments. Especially when you live in Hawaiian Gardens CA or in a nearby city.
Generally, a chapter 13 bankruptcy is utilized when you want to keep guaranteed assets, such as a car or house, where you have more equity in the secured properties that you can safeguard using your bankruptcy exemptions. It’s a reorganization of the debts you owe your financial institutions that are not non-dischargeable financial obligations.
A Chapter 13 bankruptcy permits you to make up your past due payments in time and to reinstate your original repayment agreement. It might also be a better alternative when you have a valuable non-exempt home that you want to keep. To keep a non-exempt residential or commercial property, you must pay the lender for the worth of the property.
An exemption limitation would apply to any equity you have in the home. Equity is just a difference between the value of the home and what you owe on it. For instance, if you have a truck valued at $10,000 with a loan of $8,500, the truck only includes equity of $1,500. When you have a property that is held by a loan, the equity you own in that 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 residential or commercial property throughout and after your bankruptcy term is complete. If the equity is not covered by your exemptions, your creditor might opt to sell off that asset and then disperse the cash arising from the sale. In this case, you would be entitled to the value of your exemption in the sold-off possession as a cash payment. Present bankruptcy laws permit a married couple filing together to each claim a complete set of exemptions, indicating more home 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 individual injury/death triggered by DWI/DUI, back kid assistance, alimony, debts related to family support, trainee loans, income tax financial obligations within the last 3 years in addition to other tax debts, charges for traffic tickets, criminal restitution, and any debts you forget to list in your bankruptcy papers, unless you inform the creditor of your bankruptcy case. Besides those non-dischargeable financial obligations, everything else consisted of in your bankruptcy case will be discharged at the end of your decided upon bankruptcy period.
Map of Hawaiian Gardens 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