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Chapter 13 Bankruptcy Attorney Anaheim CA

Do You Need a Chapter 13 Bankruptcy Attorney?

It’s time to consider bankruptcy in Anaheim 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 Anaheim 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

Anaheim 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 Anaheim and the surrounding areas.

More About Hiring a Chapter 13 Bankruptcy Attorney in Anaheim 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_bankruptcyIn Chapter 13 bankruptcy, you propose a payment plan to your lenders, and it usually lasts 3 to 5 years. It uses to pay all or part of your debt from any future earnings you make. You can use Chapter 13 to make up missed out on automobile payments, pay back taxes you owe, prevent 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 much more.

When you follow the terms of your contract to repay your financial obligations, all your staying dis-chargeable debts would be launched at the end of the repayment duration. The financial amount appointed to lenders under a Chapter 13 bankruptcy need to be equal to the quantity they would have gotten if a Chapter 7 bankruptcy had been filed.

To file Chapter 13 bankruptcy, you must have a “routine income source” and disposable earnings to apply to your payments. Especially when you live in Anaheim CA or in a nearby city.

Usually, a chapter 13 bankruptcy is used when you wish to keep secured possessions, such as a vehicle or house, where you have more equity in the secured assets that you can protect using your bankruptcy exemptions. It’s a reorganization of the financial obligations you owe your creditors that are not non-dischargeable debts.

A Chapter 13 bankruptcy allows you to make up your past due payments in time and to reinstate your initial payment contract. It may likewise be a much better option when you have a valuable non-exempt property that you wish to keep. To keep a non-exempt property, you must pay the financial institution for the value of the home.

An exemption limitation would apply to any equity you have in the residential or commercial property. Equity is just 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 just contains equity of $1,500. When you have a residential or commercial property that is held by a loan, the equity you own in that home is covered by your exemptions. That is if you are current on your payments. Also, if you decide to keep making your typical payments on the loan, you can keep the property throughout and after your bankruptcy term is total.

If the equity is not covered by your exemptions, your creditor may opt to sell that property and then disperse the cash arising from the sale. In this case, you would be entitled to the worth of your exemption in the sold-off property as a money payment. Existing bankruptcy laws permit a married couple filing together to each claim a complete set of exemptions, suggesting more home 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 eliminate in bankruptcy consist of debts for individual injury/death brought on by DWI/DUI, back child assistance, spousal support, debts connected to household assistance, student loans, earnings tax debts within the last 3 years as well as any other tax financial obligations, penalties for traffic tickets, criminal restitution, and any debts you forget to list in your bankruptcy papers, unless you inform the financial institution of your bankruptcy case. Aside from those non-dischargeable financial obligations, everything else consisted of in your bankruptcy case will be released at the end of your decided upon bankruptcy duration.

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