South El Monte 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 South El Monte 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 South El Monte 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 5 years. It provides to pay all or part of your financial obligation from any future earnings you earn. You can utilize Chapter 13 to make up missed vehicle payments, pay back taxes you owe, prevent a bank from foreclosing on your home, keep non-exempt residential or commercial property that you consider important, stop interest from gaining on your tax financial obligation, and a lot more. When you follow the terms of your agreement to repay your financial obligations, all of your remaining dis-chargeable debts would be launched at the end of the payment period. The financial quantity assigned to lenders under a Chapter 13 bankruptcy need to amount to the amount they would have gotten if a Chapter 7 bankruptcy had actually been filed. To file Chapter 13 bankruptcy, you should have a “regular source of income” and disposable earnings to apply to your payments. Especially when you live in South El Monte CA or in a nearby city.

Normally, a chapter 13 bankruptcy is utilized when you wish to keep protected possessions, such as a car or home, where you have more equity in the protected assets that you can secure 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 past due payments over time and to restore your original repayment contract. It might also be a much better choice when you have an important non-exempt home that you want to keep. To keep a non-exempt home, you should pay the financial institution for the worth of the home.

An exemption limit would apply to any equity you have in the home. Equity is just 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 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 opt to keep making your typical payments on the loan, you can keep the residential or commercial property throughout and after your bankruptcy term is total. If the equity is not covered by your exemptions, your financial institution may decide to sell off that possession then distribute the money resulting from the sale. In this case, you would be entitled to the worth of your exemption in the sold-off asset as a cash payment. Current bankruptcy laws enable a married couple filing together to each claim a full set of exemptions, suggesting more residential or commercial property can be protected. 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 erase in bankruptcy include debts for individual injury/death brought on by DWI/DUI, back kid support, spousal support, debts connected to household support, trainee loans, earnings tax financial obligations within the last 3 years along with any other tax debts, charges for traffic tickets, criminal restitution, and any debts you forget to list in your bankruptcy documents, unless you notify the financial institution of your bankruptcy case. Besides those non-dischargeable financial obligations, everything else included in your bankruptcy case will be discharged at the end of your agreed upon bankruptcy period.

Learn More About South El Monte CA

Services We Offer

Chapter 7 Bankruptcy

Chapter 13 Bankruptcy

Chapter 11 Bankruptcy

Stopping Foreclosures

Emergency Filings

Map of South El Monte 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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