Ladera Ranch 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 Ladera Ranch 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
Ventura 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 financial institutions, and it normally lasts three to 5 years. It offers to pay all or part of your financial obligation from any future income you make. You can utilize Chapter 13 to make up missed out on automobile payments, pay back taxes you owe, avoid a bank from foreclosing on your home, keep non-exempt residential or commercial property that you consider valuable, stop interest from gaining on your tax financial obligation, and much more. When you follow the regards to your arrangement to repay your debts, all your staying dis-chargeable debts would be launched at the end of the repayment period. The monetary quantity designated to lenders under a Chapter 13 bankruptcy should amount 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 “regular income” and disposable earnings to apply towards your repayments. Especially when you live in Ladera Ranch CA or in a nearby city.
Usually, a chapter 13 bankruptcy is utilized when you wish to keep protected properties, such as a vehicle or home, where you have more equity in the protected properties that you can protect by using your bankruptcy exemptions. It’s a reorganization of the financial obligations you owe your creditors that are not non-dischargeable debts.
A Chapter 13 bankruptcy allows you to make up your past due payments in time and to reinstate your initial repayment agreement. It may likewise be a much better alternative when you have an important non-exempt residential or commercial property that you want to keep. To keep a non-exempt property, you need to pay the financial institution for the value of the residential or commercial property.
An exemption limit would apply to any equity you have in the residential or commercial property. Equity is merely a difference between the value of the residential or commercial property and 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 residential or commercial property that is held by a loan, the equity you own because home 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 residential or commercial property throughout and after your bankruptcy term is complete. If the equity is not covered by your exemptions, your lender may opt to sell that possession and then distribute the money resulting from the sale. In this case, you would be entitled to the value of your exemption in the sold-off asset as a money payment. Existing bankruptcy laws permit a married couple filing together to each claim a complete set of exemptions, suggesting more 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 individual injury/death triggered by DWI/DUI, back kid assistance, alimony, financial obligations related to family assistance, trainee loans, earnings tax debts within the last three years as well as any other tax debts, charges for traffic tickets, criminal restitution, and any financial obligations you forget to list in your bankruptcy papers, unless you inform the lender of your bankruptcy case. Besides those non-dischargeable debts, whatever else consisted of in your bankruptcy case will be discharged at the end of your agreed upon bankruptcy duration.
Map of Ladera Ranch 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