Huntington 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 Huntington 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
Riverside 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 creditors, and it generally lasts three to five years. It provides to pay all or part of your debt from any future earnings you earn. You can utilize Chapter 13 to make up missed car payments, pay back taxes you owe, avoid a bank from foreclosing on your home, keep non-exempt residential or commercial property that you deem valuable, stop interest from gaining on your tax debt, and far more. When you follow the terms of your agreement to repay your debts, all your remaining dis-chargeable financial obligations would be launched at the end of the payment period. The monetary amount assigned to financial institutions under a Chapter 13 bankruptcy must be equal to the amount 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” and disposable earnings to apply towards your payments. Especially when you live in Huntington Beach CA or in a nearby city.
Typically, a chapter 13 bankruptcy is used when you want to keep guaranteed assets, such as a car or house, where you have more equity in the secured assets that you can safeguard using your bankruptcy exemptions. It’s a reorganization of the debts you owe your lenders that are not non-dischargeable financial obligations.
A Chapter 13 bankruptcy enables you to make up your overdue payments in time and to reinstate your original repayment agreement. It may also be a better alternative when you have an important non-exempt property that you want to keep. To keep a non-exempt home, you should pay the financial institution for the worth of the property.
An exemption limit would apply to any equity you have in the residential or commercial property. Equity is merely a distinction in between the value of the home and exactly 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 contains equity of $1,500. When you have a home that is held by a loan, the equity you own in that property is covered by your exemptions. That is if you are updated on your payments. Likewise, if you decide to keep making your normal 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 financial institution may decide to sell that asset and after that distribute the cash resulting from the sale. In this case, you would be entitled to the worth of your exemption in the sold-off property as a money payment. Current bankruptcy laws enable a couple filing together to each claim a full set of exemptions, indicating more residential or commercial 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 financial obligations you can not eliminate in bankruptcy consist of debts for individual injury/death brought on by DWI/DUI, back child assistance, alimony, debts associated with household support, student loans, income tax debts within the last 3 years along with any other tax debts, penalties for traffic tickets, criminal restitution, and any financial obligations you forget to list in your bankruptcy papers, unless you inform the financial institution of your bankruptcy case. Aside from those non-dischargeable financial obligations, whatever else consisted of in your bankruptcy case will be discharged at the end of your agreed upon bankruptcy duration.
Map of Huntington 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