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Chapter 13 Bankruptcy

California Bankruptcy AttorneyWhen individuals become overwhelmed by their debt and are unable find relief from their creditors, they may determine that filing for bankruptcy is their best option. Bankruptcy attorneys can help those desiring to file for bankruptcy figure out under which chapter of bankruptcy they should file. Individuals living in the State of California that are considering filing for bankruptcy may want to contact a California bankruptcy attorney. An attorney can help the individual ensure that they meet all of the bankruptcy eligibility requirements and help them make certain they are filing under the appropriate chapter. The two most common chapters under which individuals file for bankruptcy are Chapter 7 and Chapter 13.

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While Chapter 7 bankruptcy involves the liquidation of an individual's non-exempt property, Chapter 13 bankruptcy involves the full or partial repayment of an individual's debts, while still allowing the individual to keep their non-exempt property. A Chapter 13 bankruptcy lawyer will be able to explain more in depth how this chapter of bankruptcy works, but there are some basic concepts of Chapter 13 that individuals should be aware. Chapter 13 bankruptcy, also called the wage earner's plan, is designed to help individuals that earn a regular income to pay off their debts within 3-5 years. This bankruptcy chapter allows individuals to propose a repayment plan and make monthly installments to their creditors. During this time creditors will be forbidden from starting or continuing collection efforts.

California Chapter 13 Debt Reorganization Attorney

Chapter 13 bankruptcy offers a few advantages compared to Chapter 7 bankruptcy. Individuals that file for Chapter 13 bankruptcy may be afforded the opportunity to save their homes from foreclosure. With Chapter 13 individuals may be able to stop foreclosure proceedings. However, individuals will still be expected to make the mortgage payments that are due each month according to their repayment plan.

Another advantage of Chapter 13 is the ability to reschedule eligible secured debts. Individuals will have to opportunity to pay off these debts during the term of the repayment plan. This can significantly lower the individual's payments and help them to more successfully pay off their debts.

Under Chapter 13 individuals will make one monthly payment to a trustee. The trustee will be tasked with distributing payments to the individual's creditors. A Chapter 13 bankruptcy attorney will be able to elaborate on both the advantages and disadvantages of filing for Chapter 13 rather than Chapter 7 bankruptcy.

Chapter 13 Bankruptcy AttorneyFree initial consultation about your Chapter 13 bankruptcy needs We accept all major credit cards and payment plans are available

Individuals in Los Angeles or the surrounding areas that are considering filing for bankruptcy may benefit from the advice and counsel of a Los Angeles bankruptcy attorney. Before filing for bankruptcy it will be important for the individual to determine their purpose for filing and the desired outcome. A Chapter 13 bankruptcy attorney can provide individuals with a wealth of bankruptcy information.

A Chapter 7 bankruptcy attorney can provide expert legal advice as well. If you choose to file for Chapter 13, consult with a Chapter 13 bankruptcy attorney before filing any paperwork with the courts. If you desire more information about Chapter 7 bankruptcy, please consult with a Chapter 7 bankruptcy lawyer.

Wilshire Law Group is ready to help you with all of your bankruptcy and debt relief needs. Contact our office in Los Angeles, to schedule a free consultation with an experienced bankruptcy lawyer. We will give you honest answers to your bankruptcy questions.

DISCLAIMER: This site and any information contained herein are intended for informational purposes only and should not be construed as legal advice. Seek competent legal counsel for advice on any legal matter.

Call 877-4-ASAP-LAW to speak with an attorney now!

 

 
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Michael Shemtoub, California bankruptcy attorney, specializes in chapter 7 bankruptcy in California and chapter 13 bankruptcy in California
Serving California, including, Los Angeles, Beverly Hills, Bakersfield, Fresno, Orange County, Riverside, San Diego, San Jose, Santa Rosa and San Fernando Valley.

Serving the Northern California area, Bay Area, Peninsula, South Bay, East Bay, Monterey, Sacramento, including, San Francisco, Silicon Valley, Oakland, San Jose, Berkeley, Burlingame, San Carlos, Alameda, Santa Clara, Contra Costa, Marin, Napa, San Mateo, Palo Alto, East Palo Alto, Sonoma, South San Francisco, Atherton, Belmont, Brisbane, Colma, Daly City, Half Moon Bay, Hillsborough, Millbrae, Pacifica, Portola Valley, Redwood Shores, San Bruno, Woodside, Campbell, Cupertino, Los Altos, Los Altos Hills, Los Gatos, Los Gatos-Monte Sereno, Milpitas, Morgan Hill, Mountain View, Saratoga, Sunnyvale, East Palo Alto, Foster City, Fremont, Gilroy, Menlo Park, Newark, Redwood City, Hayward, Newark, Union City, Emeryville, Piedmont, Castro Valley, Albany, San Leandro, San Pablo, El Sobrante, Pinole, Hercules, Rodeo, El Cerrito, Lafayette, Moraga, Orinda, Walnut Creek, San Ramond, Concord, Martinez, Pleasant Hill, Pittsburg, Antioch, Brentwood, Oakley, Dublin, Pleasanton, Livermore, Alamo, Danville, Diablo, Belvedere-Tiburon, Ross, Sausalito, San Francisco Financial District, Cow Hollow, Marina District, Russian Hill, Nob Hill, Pacific Heights, Del Monte Forest, Emerald Lake Hills, Loyola, Muir Beach, Alamo, Mill Valley, Stinson Beach, Larkspur, Tamalpais, Lexington Hills, Corte Madera, Granite Bay, Sunol, North Woodbridge, Stockton, Monterrey, Montara, Rancho Murieta, Gold River, Clayton, San Anselmo, Discovery Bay, Moss Beach, Waldon, East Oakdale, and El Dorado Hills.

Serving the Southern California area, Los Angeles, Inland Empire, Orange County, San Diego, Long Beach, Santa Ana, Anaheim, Bakersfield, Riverside, Chula Vista, Irvine, Glendale, San Bernardino, Huntington Beach, including the LA Metro, the LA Basin, including Downtown Los Angeles, Ventura, Encino, Hollywood, Culver City, West Los Angeles, Los Feliz, Silverlake, Echo Park, West Hollywood, East Los Angeles, San Gabriel Valley, Venice, Pasadena, Santa Monica, Beverly Hills, Century City, Burbank, Altadena, Norwalk, Cerritos, City of Commerce, East Los Angeles, South Pasadena, El Monte, Lynwood, Florence, Whittier, Hawthorne, Gardena, Paramount, Cypress, Carson, Lakewood, Rancho Verdes, Garden Grove, Seal Beach, Torrance, Redondo Beach, Manhattan Beach, Sacramento, Fresno, San Luis Obispo, Westwood, Marina Del Rey, Malibu, San Fernando Valley, Van Nuys, Costa Mesa, La Jolla, Del Mar, El Cajon, Escondido, Oceanside, Carlsbad, Orange, Palmdale, Lancaster, Thousand Oaks, Simi Valley, South Bay, Pomona, Santa Ana, Ontario, Fontana, Palm Springs, Indian Wells, Rancho Mirage, Westchester, La Mirada, Panorama City, Newport Beach, Rancho Santa Margarita, Rancho Cucamonga, Rancho Bernardo, Mission Valley, Plaza Del Mar, La Jolla, Carmel Valley, Rancho Santa Fe, Woodland Hills, San Gabriel Valley, Rolling Hills, Fair Banks Ranch, Hidden Hills, Montecito, San Joaquin Hills, San Marino, Bradbury, Westlake Village, La Ca'ada Flintridge, Solana Beach, Calabasas, Rancho Palos Verdes, Toro Canyon, Carmel-by-the-Sea, Granite Bay, Tustin, Tracy, Summerland, and Sierra Madre.

Disclaimer: The information contained in this website is not intended to create an attorney-client relationship, and such a relationship is not created by using this website. If you send an e-mail to our firm, you agree that sending us an e-mail will not make you a client of our firm. Until we agree to represent you, anything you send us may not be confidential or privileged. The information included in this site is not, nor is it intended to be, legal advice. Please consult an attorney directly for legal advice. The information in this website is general in nature; the reader is strongly encouraged to consult with an attorney before relying on any information so that an attorney can thoroughly review the facts applicable to the reader's specific situation. Any reliance on the information contained in this website is taken at the reader's own risk. Wilshire Law Group is not responsible for the content of any web site linked to or from this web site.

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