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Chapter 13 Bankruptcy Attorney Victorville CA

Do You Need a Chapter 13 Bankruptcy Attorney?

It’s time to consider bankruptcy in Victorville 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 Victorville 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

Victorville Bankruptcy Attorneys, The Bankruptcy Experts – Washington, 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 Victorville and the surrounding areas.

More About Hiring a Chapter 13 Bankruptcy Attorney in Victorville 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.

chapter_13_bankruptcy In Chapter 13 bankruptcy, you propose a repayment plan to your creditors, and it typically lasts three to 5 years. It offers to pay all or part of your financial obligation from any future earnings you make. You can utilize Chapter 13 to make up missed out on car payments, pay back taxes you owe, avoid a bank from foreclosing on your home, keep non-exempt home that you consider important, stop interest from gaining on your tax financial obligation, and a lot more.

When you follow the terms of your arrangement to repay your debts, all your staying dis-chargeable financial obligations would be released at the end of the repayment duration. The financial amount designated to creditors under a Chapter 13 bankruptcy must be equal to the quantity they would have gotten if a Chapter 7 bankruptcy had actually been filed.

To file Chapter 13 bankruptcy, you should have a “routine source of income” and non reusable income to use to your payments. Especially when you live in Victorville CA or in a nearby city.

Normally, a chapter 13 bankruptcy is used when you want to keep guaranteed possessions, such as an automobile 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 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 over time and to renew your original repayment agreement. It may also be a better choice when you have an important non-exempt residential or commercial property that you want to keep. To keep a non-exempt residential or commercial property, you need to pay the financial institution for the worth of the property.

An exemption limit would apply to any equity you have in the home. Equity is merely a distinction between the value 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 only contains equity of $1,500. When you have a property 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. Likewise, if you choose to keep making your typical payments on the loan, you can keep the home throughout and after your bankruptcy term is complete.

If the equity is not covered by your exemptions, your lender might opt to sell off 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. Present bankruptcy laws permit a married couple filing together to each claim a complete 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 financial obligations you can not remove in bankruptcy include financial obligations for personal injury/death brought on by DWI/DUI, back child support, spousal support, debts related to household support, trainee loans, earnings tax debts within the last three years along with other tax financial obligations, charges for traffic tickets, criminal restitution, and any debts you forget to list in your bankruptcy papers, unless you notify the creditor of your bankruptcy case. Besides those non-dischargeable debts, everything else included in your bankruptcy case will be released at the end of your agreed upon bankruptcy period.