Laguna Niguel 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 Laguna Niguel 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
San Diego 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 creditors, and it typically lasts 3 to 5 years. It provides to pay all or part of your debt from any future earnings you make. You can use Chapter 13 to make up missed out on cars and truck payments, repay taxes you owe, prevent a bank from foreclosing on your house, keep non-exempt property that you deem important, stop interest from gaining on your tax debt, and a lot more. When you follow the regards to your arrangement to repay your debts, all of your remaining dis-chargeable debts would be released at the end of the repayment duration. The monetary amount appointed to creditors under a Chapter 13 bankruptcy should be equal to the quantity they would have received if a Chapter 7 bankruptcy had been submitted. To file Chapter 13 bankruptcy, you must have a “routine source of income” and non reusable income to use to your payments. Especially when you live in Laguna Niguel CA or in a nearby city.
Generally, a chapter 13 bankruptcy is utilized when you wish to keep safe assets, such as a cars and truck or home, where you have more equity in the protected possessions that you can safeguard by utilizing 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 permits you to make up your past due payments in time and to restore your original payment contract. It may also be a much better option 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 home.
An exemption limitation would apply to any equity you have in the residential or commercial property. Equity is just a distinction between the worth 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 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 property is covered by your exemptions. That is if you are current on your payments. Also, if you opt 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 choose to sell that asset and then disperse the money arising from the sale. In this case, you would be entitled to the value of your exemption in the sold-off asset as a cash payment. Present bankruptcy laws allow a couple filing together to each claim a full set of exemptions, implying 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 consist of debts for individual injury/death brought on by DWI/DUI, back child assistance, alimony, financial obligations associated with household support, trainee loans, earnings tax financial obligations within the last three 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 documents, unless you inform the creditor of your bankruptcy case. Besides those non-dischargeable financial obligations, whatever else included in your bankruptcy case will be released at the end of your agreed upon bankruptcy period.
Map of Laguna Niguel 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