Perris 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 Perris 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 payment strategy to your financial institutions, and it normally lasts 3 to 5 years. It offers to pay all or part of your financial obligation from any future income you earn. You can utilize Chapter 13 to make up missed vehicle payments, pay back taxes you owe, avoid a bank from foreclosing on your house, keep non-exempt residential or commercial property that you consider important, stop interest from gaining on your tax debt, and a lot more. When you follow the regards to your contract to repay your debts, all your remaining dis-chargeable financial obligations would be launched at the end of the payment period. The monetary quantity assigned to financial institutions under a Chapter 13 bankruptcy need to amount to the amount they would have received if a Chapter 7 bankruptcy had been filed. To file Chapter 13 bankruptcy, you must have a “routine income” and disposable income to apply to your repayments. Especially when you live in Perris CA or in a nearby city.
Typically, a chapter 13 bankruptcy is used when you wish to keep safe possessions, such as an automobile or home, where you have more equity in the secured properties that you can protect by utilizing 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 overdue payments over time and to restore your initial payment contract. It may likewise be a 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 must pay the creditor for the value of the residential or commercial property.
An exemption limitation would apply to any equity you have in the property. Equity is merely a difference between the value of the home 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 home that is held by a loan, the equity you own in that 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 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 creditor might decide to sell off that asset 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 cash payment. Present bankruptcy laws permit a couple filing together to each claim a full set of exemptions, suggesting 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 remove in bankruptcy consist of financial obligations for personal injury/death caused by DWI/DUI, back child assistance, spousal support, financial obligations associated with household support, student loans, earnings tax financial obligations within the last 3 years along with any other tax debts, penalties for traffic tickets, criminal restitution, and any debts you forget to list in your bankruptcy documents, unless you inform the lender of your bankruptcy case. Aside from those non-dischargeable debts, whatever else consisted of in your bankruptcy case will be released at the end of your agreed upon bankruptcy period.
Map of Perris 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