San Pedro 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 San Pedro 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 San Pedro 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 creditors, and it usually lasts 3 to 5 years. It uses to pay all or part of your debt from any future income you earn. You can utilize Chapter 13 to make up missed out on vehicle payments, repay taxes you owe, prevent a bank from foreclosing on your house, keep non-exempt home that you deem valuable, stop interest from gaining on your tax debt, and much more. When you follow the terms of your contract to repay your financial obligations, all of your remaining dis-chargeable financial obligations would be released at the end of the repayment duration. The monetary quantity assigned to financial institutions under a Chapter 13 bankruptcy must amount to the quantity they would have received if a Chapter 7 bankruptcy had been filed. To file Chapter 13 bankruptcy, you need to have a “routine income source” and disposable earnings to use towards your repayments. Especially when you live in San Pedro CA or in a nearby city.

Usually, a chapter 13 bankruptcy is used when you want to keep guaranteed assets, such as a cars and truck or house, where you have more equity in the secured properties that you can protect by utilizing your bankruptcy exemptions. It’s a reorganization of the financial obligations you owe your lenders that are not non-dischargeable debts.

A Chapter 13 bankruptcy allows you to make up your overdue payments in time and to reinstate your initial payment agreement. It might likewise be a much better choice when you have an important non-exempt property that you wish to keep. To keep a non-exempt property, you must pay the lender for the worth of the home.

An exemption limit would apply to any equity you have in the residential or commercial property. Equity is simply a difference between the worth of the property and what you owe on it. For example, if you have 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 in that 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 typical 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 opt to sell that property and then disperse the cash resulting from the sale. In this case, you would be entitled to the worth of your exemption in the sold-off possession as a money payment. Existing bankruptcy laws permit a married couple filing together to each claim a full set of exemptions, suggesting more home 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 debts you can not remove in bankruptcy include debts for personal injury/death caused by DWI/DUI, back kid assistance, alimony, financial obligations connected to family support, student loans, income tax financial obligations within the last three years in addition to other tax debts, penalties for traffic tickets, criminal restitution, and any debts you forget to list in your bankruptcy papers, unless you notify the lender of your bankruptcy case. Aside from those non-dischargeable debts, whatever else included in your bankruptcy case will be released at the end of your decided upon bankruptcy duration.

Learn More About San Pedro CA

Services We Offer

Chapter 7 Bankruptcy

Chapter 13 Bankruptcy

Chapter 11 Bankruptcy

Stopping Foreclosures

Emergency Filings

Map of San Pedro 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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