La Canada Flintridge 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 La Canada Flintridge 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 payment strategy to your lenders, and it usually lasts three to five years. It provides to pay all or part of your debt from any future earnings you earn. You can use Chapter 13 to make up missed out on automobile payments, pay back taxes you owe, prevent a bank from foreclosing on your house, keep non-exempt property that you consider valuable, stop interest from gaining on your tax financial obligation, and much more. When you follow the regards to your contract to repay your financial obligations, all your staying dis-chargeable debts would be launched at the end of the payment period. The financial quantity designated to financial institutions under a Chapter 13 bankruptcy need to be equal to the amount they would have gotten if a Chapter 7 bankruptcy had actually been filed. To file Chapter 13 bankruptcy, you should have a “regular income” and disposable earnings to apply towards your repayments. Especially when you live in La Canada Flintridge CA or in a nearby city.
Typically, a chapter 13 bankruptcy is used when you want to keep guaranteed assets, such as a cars and truck or house, where you have more equity in the protected possessions that you can protect by utilizing your bankruptcy exemptions. It’s a reorganization of the debts you owe your lenders that are not non-dischargeable debts.
A Chapter 13 bankruptcy permits you to make up your past due payments over time and to reinstate your original payment contract. It may also be a better choice when you have a valuable non-exempt property that you wish to keep. To keep a non-exempt home, you need to pay the creditor for the value of the property.
An exemption limit would apply to any equity you have in the home. Equity is just a difference in between the worth 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 just includes equity of $1,500. When you have a residential or commercial property that is held by a loan, the equity you own in that home is covered by your exemptions. That is if you are updated on your payments. Also, if you opt to keep making your typical 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 financial institution may decide to sell off that property 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 property as a cash payment. Existing bankruptcy laws permit a married couple filing together to each claim a complete set of exemptions, indicating more residential or commercial 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 erase in bankruptcy include debts 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 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 financial institution of your bankruptcy case. Aside from 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 La Canada Flintridge 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