Wilmington 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 Wilmington 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 Wilmington 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 creditors, and it typically lasts 3 to 5 years. It provides to pay all or part of your financial obligation from any future income you earn. You can use Chapter 13 to make up missed car payments, pay back taxes you owe, prevent a bank from foreclosing on your home, keep non-exempt property that you deem valuable, stop interest from gaining on your tax financial obligation, and much more. When you follow the regards to your arrangement to repay your debts, all of your remaining dis-chargeable financial obligations would be launched at the end of the payment period. The monetary amount assigned to financial institutions under a Chapter 13 bankruptcy must amount to the quantity they would have gotten if a Chapter 7 bankruptcy had actually been filed. To file Chapter 13 bankruptcy, you must have a “regular source of income” and disposable income to apply towards your repayments. Especially when you live in Wilmington CA or in a nearby city.

Usually, a chapter 13 bankruptcy is used when you want to keep secured properties, such as a cars and truck or home, where you have more equity in the protected possessions that you can safeguard by utilizing 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 permits you to make up your past due payments over time and to renew your original payment agreement. It may likewise be a better option when you have a valuable non-exempt property that you want to keep. To keep a non-exempt residential or commercial property, you must pay the creditor for the value of the residential or commercial property.

An exemption limit would apply to any equity you have in the property. Equity is merely a difference between the worth of the property and exactly 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 only consists of equity of $1,500. When you have a home that is held by a loan, the equity you own because residential or commercial property is covered by your exemptions. That is if you are current on your payments. Also, if you choose to keep making your typical 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 creditor may opt to sell that possession and then distribute 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 cash payment. Existing bankruptcy laws permit a couple filing together to each claim a full set of exemptions, indicating 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 eliminate in bankruptcy include debts for individual injury/death caused by DWI/DUI, back child assistance, alimony, financial obligations related to family assistance, trainee loans, income tax debts within the last three years as well as other tax financial obligations, penalties for traffic tickets, criminal restitution, and any financial obligations you forget to list in your bankruptcy documents, unless you inform the creditor of your bankruptcy case. Aside from those non-dischargeable financial obligations, everything else included in your bankruptcy case will be discharged at the end of your decided upon bankruptcy duration.

Learn More About Wilmington CA

Services We Offer

Chapter 7 Bankruptcy

Chapter 13 Bankruptcy

Chapter 11 Bankruptcy

Stopping Foreclosures

Emergency Filings

Map of Wilmington 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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