CHAPTER 13 BANKRUPTCY ATTORNEY
UNDERSTAND CHAPTER 13


When most people think of declaring bankruptcy, they do not realize that there are different kinds of bankruptcy. What they are actually thinking of in most cases is actually a Chapter 7, in which the individual declaring bankruptcy paying his or her creditor and sees his or her debt discharge with only a few months. Many people, however, cannot meet the strict eligibility requirements for Chapter 7. A Chapter 7 petition that is denied will typically be converted to a Chapter 13 filing. Eligibility for Chapter 13 is far more generous than for Chapter 7. In order to qualify for Chapter 13, it is necessary to demonstrate that the amount you owe is unsecured debts such as credit cars, collection agency accounts and past-due utility meets the amount of states requirements. Your home mortgage and car loan, also has a amount based on state requirement. Speak to our experienced attorneys to see what you may be qualified for at (310) 597-2998.

DEVELOPING A REPAYMENT PLAN
Under Chapter 13, your existing debts will be restructured so that instead of having to keep track of several loan payments each with different due dates, you will have only one payment to focus on. Your experienced bankruptcy attorney will work with you to develop a repayment plan that satisfies the judge while as providing you with sufficient disposable income to afford an acceptable standard for living, followed by bringing the plan to court and arguing for its approval over the possible objections of your creditors. Next, you will continue to make this monthly payment for a period of three to five years, depending on your incomes and financial resources. At the end of this period, any remaining debt will be discharged, leaving you free to move on into your life free of debt.

ADVANTAGES OF CHAPTER 13
While it may not be as fast as Chapter 7, and also involves the continued repayment of your debts, Chapter 13 bankruptcy does have its own advantages. In fact, some of these advantages are significant enough that a debtor may choose Chapter 13 despite being eligible under Chapter 7. A major advantage of Chapter 13 is that is it typically possible to include any missed mortgage payments into the repayment plan, thereby giving you couple years to remedy the mortgage and avoid foreclosure. Amount of years can vary based on state and county.  Another advantage of Chapter 13 has to do with the fact that, unlike Chapter 7, there is no possibility of losing assets to liquidation. In the event that the state and federal exceptions would be insufficient to protect your assets against liquidation attempts on the part of bankruptcy trustee, Chapter 13 may be your best answer for protecting your estate.

Further, the credit damage caused by this type of bankruptcy is not as great as it is for the other. Whereas, a Chapter 7 bankruptcy can remain on your credit report for 10 years, a Chapter 13 case will disappear from your report after 7 years passed. Althou, it may take longer to reach the point when your debts are finally discharged., you do not have to wait until the completion of the process to begin enjoying the benefits of bankruptcy under Chapter 13. From the moment you file your petition, you will be protected by an automatic stay against repossession, wage garnishment and foreclosure.

CONTACT TO A CHAPTER 13 ATTORNEY TODAY
If you are looking for an experienced Chapter 13 attorney. Don't wait! Your first initial consultation is FREE. Call to connect to an experienced bankruptcy lawyer today at 1-424-256-9055.

Lawyer Referral Service

If you are in a need a attorney to help you get appropriate compensation and medical care you deserve, you should contact an attorney today. Our experienced lawyers in Los Angeles will help you find the solutions you need for your legal issues.

If you have any questions about the information provided above, please contact Legal Leaf.

Legal Leaf is a Lawyer Referral that can provide you with a Chapter 13 Attorney in Los Angeles County area.

 

If you do have any questions about a texting attorney in Los Angeles area please contact us for a free Lawyer Referral to a Los Angeles Lawyer.

Hablamos Español.

DISCLAIMER: If you initiate to send lawyer or law firm email through this Service, your email will not create an attorney-client relationship and will not necessarily be treated as privileged or confidential. It is important not to send sensitive or confidential information via this email service. The lawyer or law firm to whom you are writing may not choose to accept you as a client. In addition, as the Internet is not necessarily a secure environment it is possible that your email sent via the Internet might be intercepted and read by third parties. By sending you do accept the Terms Of Use.

Disclaimer: Legal Leaf, Inc dba Attorney Resource Network is an Lawyer Referral Service and cannot provide legal advice, comment on legal cases or answer legal questions. If we cannot provide a Lawyer Referral, we will try and provide you with other Legal Services information relevant to your legal issue. Legal Leaf, Inc dba Attorney Resource Network is a California State Bar Certified Lawyer Referral Service - State Bar Certification # 0135 . This website is attorney advertising. Prior results, testimonials or endorsements do not constitute a guarantee, warranty or prediction regarding the outcome of your legal matter. Legal Leaf, Inc dba Attorney Resource Network is not a law firm, does not provide legal advice, comments on legal cases or answer legal questions. No attorney-client relationship is formed by use of this website or any interaction with Legal Legal Leaf, Inc dba Attorney Resource Network. Legal Leaf attorneys are pre-screened and meet minimal requirements set forth by the service. This service is not paid lawyer advertising. All lawyer referrals are unbiased and impartial.

  • YouTube Social  Icon
  • Facebook Social Icon
  • LinkedIn Social Icon
  • Twitter Social Icon
  • Google+ Social Icon

© 2018 by Legal Leaf, Inc  Copyright| Terms of Use |Privacy Policy | Attorney Login