Pasadena 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 Pasadena 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 Pasadena 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 payment plan to your financial institutions, and it typically lasts three to five years. It provides to pay all or part of your debt from any future income you make. You can use Chapter 13 to make up missed out on vehicle payments, pay back taxes you owe, avoid a bank from foreclosing on your house, keep non-exempt property that you deem important, stop interest from gaining on your tax financial obligation, and far more. When you follow the terms of your arrangement to repay your financial obligations, all of your remaining dis-chargeable debts would be released at the end of the repayment period. The financial amount appointed to creditors under a Chapter 13 bankruptcy must amount to the amount they would have gotten if a Chapter 7 bankruptcy had been submitted. To file Chapter 13 bankruptcy, you must have a “routine income source” and non reusable income to use towards your repayments. Especially when you live in Pasadena CA or in a nearby city.

Generally, a chapter 13 bankruptcy is used when you wish to keep protected assets, such as a cars and truck 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 debts you owe your creditors that are not non-dischargeable debts.

A Chapter 13 bankruptcy permits you to make up your past due payments with time and to renew your initial payment contract. It might also be a better alternative when you have a valuable non-exempt residential or commercial 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 home. Equity is merely a difference in between the value of the 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 consists of equity of $1,500. When you have a residential or commercial 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 current on your payments. Also, if you decide to keep making your normal payments on the loan, you can keep the home throughout and after your bankruptcy term is total. If the equity is not covered by your exemptions, your financial institution might choose to sell that possession and after that distribute the money resulting from the sale. In this case, you would be entitled to the value of your exemption in the sold-off possession as a cash payment. Present bankruptcy laws permit a couple filing together to each claim a complete set of exemptions, meaning more residential or commercial property can be safeguarded. 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 erase in bankruptcy include debts for personal injury/death brought on by DWI/DUI, back child support, spousal support, debts connected to household support, trainee loans, income tax financial obligations within the last three years along with other tax debts, penalties for traffic tickets, criminal restitution, and any debts you forget to list in your bankruptcy papers, unless you notify the creditor 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 duration.

Learn More About Pasadena CA

Services We Offer

Chapter 7 Bankruptcy

Chapter 13 Bankruptcy

Chapter 11 Bankruptcy

Stopping Foreclosures

Emergency Filings

Map of Pasadena 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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