Santa Monica 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 Santa Monica 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 Santa Monica 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 plan to your lenders, and it normally lasts 3 to five years. It uses to pay all or part of your financial obligation from any future earnings you earn. You can use Chapter 13 to make up missed out on vehicle payments, repay taxes you owe, prevent a bank from foreclosing on your home, keep non-exempt home that you deem important, stop interest from gaining on your tax financial obligation, and far more. When you follow the terms of your agreement to repay your debts, all your staying dis-chargeable financial obligations would be launched at the end of the repayment period. The monetary amount assigned to financial institutions under a Chapter 13 bankruptcy must amount to the amount they would have gotten if a Chapter 7 bankruptcy had been filed. To file Chapter 13 bankruptcy, you need to have a “regular source of income” and disposable income to use towards your payments. Especially when you live in Santa Monica CA or in a nearby city.

Normally, a chapter 13 bankruptcy is utilized when you want to keep guaranteed properties, such as a vehicle or home, where you have more equity in the secured possessions that you can safeguard by using your bankruptcy exemptions. It’s a reorganization of the financial obligations you owe your financial institutions that are not non-dischargeable debts.

A Chapter 13 bankruptcy allows you to make up your overdue payments gradually and to restore your initial repayment contract. It might likewise be a much better option when you have an important non-exempt residential or commercial property that you wish to keep. To keep a non-exempt property, you need to pay the lender for the value of the residential or commercial property.

An exemption limit would apply to any equity you have in the home. Equity is just a distinction in between the worth of the property and exactly what you owe on it. For example, if you have a truck valued at $10,000 with a loan of $8,500, the truck only contains equity of $1,500. When you have a residential or commercial property that is held by a loan, the equity you own because property is covered by your exemptions. That is if you are up-to-date on your payments. Also, if you decide to keep making your regular 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 might choose to sell off that asset and then distribute the cash arising from the sale. In this case, you would be entitled to the value of your exemption in the sold-off asset as a money payment. Present bankruptcy laws permit a couple filing together to each claim a full set of exemptions, implying 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 debts you can not eliminate in bankruptcy consist of debts for individual injury/death brought on by DWI/DUI, back child support, spousal support, financial obligations associated with family support, student loans, income tax debts within the last 3 years along with other tax debts, penalties for traffic tickets, criminal restitution, and any debts you forget to list in your bankruptcy documents, unless you inform the financial institution of your bankruptcy case. Besides those non-dischargeable debts, whatever else consisted of in your bankruptcy case will be released at the end of your decided upon bankruptcy period.

Learn More About Santa Monica CA

Services We Offer

Chapter 7 Bankruptcy

Chapter 13 Bankruptcy

Chapter 11 Bankruptcy

Stopping Foreclosures

Emergency Filings

Map of Santa Monica 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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