Montrose 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 Montrose 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.

More About Hiring a Chapter 13 Bankruptcy Attorney in Montrose CA

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.

Best Bankruptcy AttorneyIn Chapter 13 bankruptcy, you propose a repayment strategy to your lenders, and it typically lasts 3 to 5 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 car payments, pay back taxes you owe, prevent a bank from foreclosing on your house, keep non-exempt residential or commercial property that you consider valuable, stop interest from gaining on your tax debt, and much more. When you follow the regards to your contract to repay your debts, all your remaining dis-chargeable debts would be released at the end of the repayment duration. The monetary quantity designated to lenders under a Chapter 13 bankruptcy must amount to the quantity they would have gotten if a Chapter 7 bankruptcy had been submitted. To file Chapter 13 bankruptcy, you must have a “routine income” and non reusable earnings to use to your repayments. Especially when you live in Montrose CA or in a nearby city.

Typically, a chapter 13 bankruptcy is used when you wish to keep secured possessions, such as a cars and truck or home, where you have more equity in the secured assets that you can secure by using your bankruptcy exemptions. It’s a reorganization of the debts you owe your creditors that are not non-dischargeable financial obligations.

A Chapter 13 bankruptcy allows you to make up your overdue payments in time and to reinstate your initial repayment arrangement. It may likewise be a better choice when you have a valuable non-exempt residential or commercial property that you wish to keep. To keep a non-exempt residential or commercial property, you should 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 home. Equity is simply a distinction between the value of the residential or commercial property and what you owe on it. For instance, if you have actually 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 up-to-date on your payments. Also, if you choose to keep making your regular 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 lender might choose to sell off that asset and then disperse the money resulting from the sale. In this case, you would be entitled to the value of your exemption in the sold-off property as a money payment. Existing bankruptcy laws permit a couple filing together to each claim a full set of exemptions, indicating more home 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 financial obligations you can not eliminate in bankruptcy include financial obligations for individual injury/death triggered by DWI/DUI, back child assistance, alimony, debts connected to family assistance, student loans, income tax financial obligations within the last 3 years in addition to any other tax debts, charges for traffic tickets, criminal restitution, and any financial obligations you forget to list in your bankruptcy papers, unless you notify the financial institution of your bankruptcy case. Besides those non-dischargeable debts, everything else consisted of in your bankruptcy case will be released at the end of your agreed upon bankruptcy duration.

Learn More About Montrose CA

Services We Offer

Chapter 7 Bankruptcy

Chapter 13 Bankruptcy

Chapter 11 Bankruptcy

Stopping Foreclosures

Emergency Filings

Map of Montrose CA

Our Address

The Bankruptcy Experts
1605 W. Olympic Blvd. Suite 1024
Los Angeles, CA 90015

Office Hours

Monday – Friday: 8:00am – 6:00pm

Saturday: 10:00am – 4:00pm

Sunday: Closed

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