La Crescenta 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 Crescenta 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 plan to your financial institutions, and it normally lasts 3 to five years. It uses to pay all or part of your debt from any future earnings you make. You can utilize Chapter 13 to make up missed vehicle payments, pay back taxes you owe, prevent a bank from foreclosing on your home, keep non-exempt property that you consider valuable, stop interest from gaining on your tax financial obligation, and a lot more. When you follow the terms of your arrangement to repay your financial obligations, all of your remaining dis-chargeable debts would be launched at the end of the payment duration. The monetary quantity appointed to creditors under a Chapter 13 bankruptcy should amount to the amount they would have gotten if a Chapter 7 bankruptcy had been submitted. To file Chapter 13 bankruptcy, you should have a “regular source of income” and disposable earnings to use to your repayments. Especially when you live in La Crescenta CA or in a nearby city.
Normally, a chapter 13 bankruptcy is utilized when you want to keep safe possessions, such as a car or house, where you have more equity in the secured properties that you can secure using your bankruptcy exemptions. It’s a reorganization of the financial obligations you owe your financial institutions that are not non-dischargeable financial obligations.
A Chapter 13 bankruptcy enables you to make up your past due payments over time and to restore your initial payment agreement. It may also be a much better alternative when you have a valuable non-exempt property that you wish to keep. To keep a non-exempt property, you must pay the financial institution for the worth of the property.
An exemption limit would apply to any equity you have in the home. Equity is simply a difference 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 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 updated on your payments. Likewise, if you choose to keep making your typical payments on the loan, you can keep the home throughout and after your bankruptcy term is complete. If the equity is not covered by your exemptions, your lender may opt to sell off that possession and after that distribute the money resulting from the sale. In this case, you would be entitled to the worth of your exemption in the sold-off asset as a cash payment. Present bankruptcy laws enable a married couple filing together to each claim a full set of exemptions, suggesting 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 financial obligations you can not eliminate in bankruptcy consist of debts for individual injury/death brought on by DWI/DUI, back child support, alimony, debts related to household support, student loans, income tax financial obligations within the last 3 years in addition to any other tax financial obligations, charges for traffic tickets, criminal restitution, and any financial obligations 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 released at the end of your agreed upon bankruptcy duration.
Map of La Crescenta 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