In some cases individuals and families may not qualify for Chapter 7 for a number of reasons including their earnings are above minimum requirements to qualify for Chapter 7. Those individuals, families and small businesses may still qualify for bankruptcy protection under Chapter 13 of the Bankruptcy Code. The Bankruptcy Law Center of Thomas R. Burns can advise you as to which chapter of the Bankruptcy Code best helps you achieve your financial goals. At the initial meeting we discuss your financial situation and all your options in detail.
Walnut Creek Repayment Plan Attorney
A "Chapter 13" bankruptcy stops wage garnishments and eliminates lawsuits while also allowing you to catch up on house and car payments. You will work with our firm to develop a monthly payment plan for a period of three to five years. Upon completion of your plan unsecured debt is discharged and you will have brought current your house and car payments.
In some cases a Chapter 13 allows you to pay the amount on your car loan that your car is actually worth instead of what is owed. Additionally, a Chapter 13 may enable you to eliminate multiple mortgages on your house through a process called lien stripping. A Chapter 13 will also enable you to take a large debt (such as tax debt) and, instead of having to pay it all at once, pay it over a period of months in manageable installments.
A Chapter 13 bankruptcy may present a better option than declaring a Chapter 7. For some people, a Chapter 13 is preferable to a Chapter 7 for personal reasons in that they want to pay back part of the debt even if they do qualify for full debt elimination under a Chapter 7.
San Francisco Chapter 13 Bankruptcy Attorney
For a discreet and completely confidential free initial consultation with a bankruptcy lawyer from our firm, call us at 415-543-9900. You can also schedule your appointment with us by contacting our California firm online.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.