chapter 13 bankruptcy Los Angeles

Bankruptcy And Its Types

Call: 888-297-6203 The most common types of bankruptcy available for individuals and sole proprietorship businesses include: 1) Chapter 7 This is also known as straight bankruptcy. It will help you take away most of your unsecured debts including medical bills and credit card bills. The deficiency debt following the surrender of any collateral such as a house or car will also be wiped out through this chapter. However, it will do so by selling off your assets. If you want to keep any of your assets you have to make sure to exempt them beforehand. There are several [...]

2023-04-21T12:23:00+00:00
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How To Get A Good Start In Your Chapter 13 Bankruptcy Case

Call: 888-297-6203 Chapter 13 bankruptcy is also known as a reorganization bankruptcy. In a reorganization bankruptcy, you can keep all of your properties and repay some of the debt following a structured repayment plan showing how you are going to do so from your disposable income, typically over 3-5 years. Tips on getting a good start when filing for a chapter 13 reorganization bankruptcy case-   When is the right time to file (at the start of the month or end)?  The first three months are very crucial for the bankruptcy proceedings. Try filing for chapter 13 in the [...]

2023-04-21T12:20:09+00:00
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What Is Chapter 7 Debt Discharge?

Call: 888-297-6203 In chapters 7, 11, 12, and chapters 13 of the US bankruptcy code, some or all of your debts are discharged, that is you will not be liable to pay it back and the creditors you owe like the credit card company or hospitals will not be able to take collection actions against you. You are no longer liable for the debt as it is permanently discharged by the bankruptcy court. How does the court discharge your debt of not taking your money?  They give you debt relief in turn for your non-exempt properties. Chapter 7 [...]

2023-03-30T11:44:19+00:00
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What Happens In Bankruptcy Means Test?

Call: 888-297-6203 While filing for bankruptcy it is important to note that federal and state laws provide exemptions that allow bankruptcy filers to keep some amount of property to start their life afresh. Individuals who file for bankruptcy prefer to opt for Chapter 7 bankruptcy. This is primarily because you get a discharge within 4 to 6 months without paying for anything. Chapter 7 bankruptcy is meant for filers with little to no income and most of their property is exempted. However, there are stringent laws for filing for Chapter 7 bankruptcy. The Bankruptcy Means Test is used [...]

2023-05-30T13:24:18+00:00
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What Happens In Chapter 7 Bankruptcy?

Call: 888-297-6203 If you struggle with debt and find it difficult to keep your creditors off your back, filing for Chapter 7 bankruptcy is an excellent option. However, though you get rid of your debts, the bankruptcy chapter also results in you losing some of your property. The bankruptcy trustee can liquidate your non-exempt property to pay your unsecured creditors. The only silver lining to the process is that you will not lose all your property. This is primarily because bankruptcy is a way for people struggling with debts to get a new financial start. As a result, [...]

2023-05-29T12:45:54+00:00
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Personal Bankruptcy

Call: 888-297-6203 Let us know how declaring bankruptcy might solve your problems. Personal bankruptcy aims at providing individuals with a fresh financial start. Collection Activity is stopped by Personal Bankruptcy Once a Bankruptcy is filed, an automatic stay is an order that is issued by the court. This order prohibits creditors from contacting you, it can stop your house from being sold at an auction, or an employer from deducting your wages and so far. It will also stop all lawsuits at the moment. Even though it may be temporary, like in a situation where a lender asks [...]

2023-05-29T12:37:44+00:00
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FAQs Of Chapter 7

Call: 888-297-6203 1) Chapter 7 Bankruptcy Chapter 7 bankruptcy is a legal process of eliminating your debts and obtaining a fresh start. Though most of the debts can be eliminated by chapter 7, there are some exceptions like student loans and certain taxes which cannot be eliminated. 2) Time is taken for Chapter 7 An average-case in Chapter 7 takes about 3 months from filing. The time taken to file for chapter 7 is normally 3 business days or it can be even lesser. It depends on how fast you submit your documents and complete your online credit [...]

2023-05-19T07:29:12+00:00
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Stripping Off Mortgage Lien In Chapter 13 Bankruptcy

Call: 888-297-6203 If you are struggling with debt, you often take out multiple mortgages on your home. However, if your home is underwater and you file for Chapter 13 bankruptcy, you can get rid of junior mortgages. This can be done by lien stripping. The primary mortgage is a secured debt, while all secondary and subsequent mortgages are treated as unsecured debt. When you file for chapter 13 bankruptcy, you must pay your debts through a repayment plan. The priority of debts is secured debts, unsecured priority debts (alimony, child support, unpaid taxes), followed by unsecured debts (credit [...]

2023-05-29T12:39:39+00:00
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Benefits You Will Get If You File Under Chapter 13 Bankruptcy

Call: 888-297-6203 First, what is chapter 13 bankruptcy? Chapter 13 is a reorganization debt, here you will have to pay all your debts in the way the court plans a repayment. It goes on for 3 – 5 years and helps you keep all your assets. To be allowed to file under this you must have a regular income. Discharges your unsecured debts- When filing under chapter 13 bankruptcy, most of your unsecured debts are discharged. Some of the examples of unsecured debts are credit cards, medical bills, payday loans, signature loans, and personal loans. While paying off [...]

2023-05-19T07:17:36+00:00
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Chapter 7 And Chapter 13

Call: 888-297-6203 When you plan to file for bankruptcy, there are two different types that you can file for. Though the result of both is the same, there are a lot of differences in both. Chapter 7 Filing for chapter 7 bankruptcy gives a permit to an individual to discharge their secured debts. Unsecured debts are mostly considered a consumer and household debts. Credit card debt, medical debt, auto loans, and mortgage debts are some debts that come into this category. Very limited debts are not covered under chapter 7 bankruptcy- Debts like student loans, child support, and [...]

2023-06-12T04:26:24+00:00
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We are a debt relief agency. We help people file bankruptcy petitions to obtain relief under the bankruptcy code.