Chapter 13 Bankruptcy is designed for individuals with regular income who would like to pay all or part of their debts in installments over a period of time.
There are many reasons why Chapter 13 bankruptcy is often more appropriate for a person in debt than Chapter 7.
Whether you have a large volume of property you are concerned with losing, did not qualify under the means test for Chapter 7 or you simply feel better knowing that you are paying off your debts, Chapter 13 is a viable and healthy option for many people.
Our experienced attorneys provide Chapter 13 bankruptcy services
By having someone on your side that you can trust, you will feel confident about moving in the right direction and getting the relief that you deserve.
Under a Chapter 13 bankruptcy, a person in debt will create a repayment plan known as a “wage earners plan” based upon income, expenses and the debts that are owed. Payments will be made over the life of the plan, which is generally 3 to 5 years.At the end of the repayment term, all remaining debts will be discharged.
It is wise to seek the advice of a Chapter 13 bankruptcy lawyer as soon as possible. Hiring a qualified bankruptcy lawyer will give you access to detailed knowledge of the best way to protect your assets in a bankruptcy.
Our bankruptcy attorneys can help families and individuals get the most out of Chapter 13 bankruptcy. We fully evaluate your financial situation, debt and income to ensure that Chapter 13 is your best option.
Bankruptcy isn’t about giving up. It’s about taking action to rebuild your credit and your financial health. We have seen year after year with all our clients, how a well-crafted bankruptcy can dramatically improve people’s lives.
If you are looking for more definitive bankruptcy rules local to your jurisdiction, check this site. CACB US COURTS – LOCAL RULES http://www.cacb.uscourts.gov/local-rules
If you want to learn more about the bankruptcy codes and rules check them out here http://law.abi.org/
Contact us to schedule a free, no-risk consultation where we will discuss your situation together. Call us at (626) 593-6294 Get Legal Advice and move forward correctly.