West Covina 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 West Covina 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 West Covina 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 strategy to your creditors, and it generally lasts three to 5 years. It uses to pay all or part of your debt from any future earnings you make. You can use Chapter 13 to make up missed vehicle payments, repay taxes you owe, prevent a bank from foreclosing on your house, keep non-exempt property that you consider important, stop interest from gaining on your tax financial obligation, and much more. When you follow the terms of your contract to repay your debts, all your remaining dis-chargeable debts would be launched at the end of the payment duration. The monetary quantity designated to lenders under a Chapter 13 bankruptcy need to be equal to the amount they would have received if a Chapter 7 bankruptcy had been filed. To file Chapter 13 bankruptcy, you should have a “regular income” and disposable income to use to your payments. Especially when you live in West Covina CA or in a nearby city.

Typically, a chapter 13 bankruptcy is utilized when you wish to keep protected assets, such as a car or home, where you have more equity in the secured assets 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 financial obligations.

A Chapter 13 bankruptcy enables you to make up your overdue payments gradually and to reinstate your initial repayment contract. It might likewise be a much better option when you have an important non-exempt home that you want to keep. To keep a non-exempt property, you need to pay the financial institution for the value of the property.

An exemption limitation would apply to any equity you have in the property. Equity is just a difference between the value of the residential or commercial property and what you owe on it. For instance, 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 home that is held by a loan, the equity you own in that property is covered by your exemptions. That is if you are up-to-date on your payments. Also, if you choose to keep making your regular payments on the loan, you can keep the property throughout and after your bankruptcy term is total. If the equity is not covered by your exemptions, your financial institution might decide to sell that possession then distribute the cash resulting from the sale. In this case, you would be entitled to the value of your exemption in the sold-off possession as a money payment. Existing bankruptcy laws permit a couple filing together to each claim a complete 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 erase in bankruptcy include financial obligations for individual injury/death caused by DWI/DUI, back kid assistance, spousal support, financial obligations connected to household assistance, student loans, earnings tax debts within the last 3 years in addition to any other tax financial obligations, charges for traffic tickets, criminal restitution, and any financial obligations you forget to list in your bankruptcy papers, unless you inform the financial institution of your bankruptcy case. Besides those non-dischargeable financial obligations, whatever else consisted of in your bankruptcy case will be discharged at the end of your decided upon bankruptcy duration.

Learn More About West Covina CA

Services We Offer

Chapter 7 Bankruptcy

Chapter 13 Bankruptcy

Chapter 11 Bankruptcy

Stopping Foreclosures

Emergency Filings

Map of West Covina 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

Recent Posts
Drop Us a Note.