Attorneys for Debtors Who Need to File Chapter 13
If you are having difficulty paying your bills, but you want to keep your home, business, or other assets, Chapter 13 bankruptcy may be a good option for you and your family. Chapter 13 bankruptcy allows you to maintain many of your assets and properties while still getting a break on payment amounts and plan structure through the bankruptcy process. Bankruptcy is a serious legal decision, and the San Fernando Valley bankruptcy attorneys at SM Law Group can help provide you with the information and the tools you need to make the best decision for you and your family.
What is Chapter 13 Bankruptcy?
Chapter Thirteen Bankruptcy is a type of bankruptcy also known as “restructuring bankruptcy.” It is designed to assist indebted individuals who wish to retain some of the property they own, and restructure their payment plans over an extended time period to make their payments more affordable. At SM Law Group, we assist many Californians with their Chapter 13 bankruptcy case. If you are having difficulty paying your bills and you want to keep your home and other assets while restructuring your debt, you should speak to an attorney as soon as possible. Call SM Law Group today to schedule a consultation where we will review your financial situation and help you determine whether Chapter 13 bankruptcy is the right choice for you.
How to Know if You Qualify for Chapter 13 Bankruptcy
Chapter 13 bankruptcy is not for everyone. Unlike Chapter 7 bankruptcy, with Chapter 13, your debts will not be wiped away. Instead, they will be restructured. A debtor will qualify for Chapter 13 bankruptcy if they have income that is reasonably regular. In addition, there is a limit on debt that you can have in order to qualify. If your debt exceeds a certain amount, or if you don’t have a steady income, you would not be able to file for Ch. 13 and would instead have to file Ch. 7. Conversely, if a debtor makes too much income, or doesn’t have enough debt, they may not qualify for bankruptcy at all. Determining whether you qualify for Chapter 13 bankruptcy can be confusing and difficult. The best way to figure this out is to meet with an experienced San Fernando Valley Bankruptcy lawyer. At SM Law Group, our attorneys can sit down with you and help you review your financial situation to help you decide if you wish to file for Chapter 13 bankruptcy.
Call SM Law Group Today to File Ch. 13
If you think that Chapter 13 Bankruptcy might help your financial situation, the first step is to speak with an attorney. Call SM Law Group to schedule a consultation with one of our knowledgeable San Fernando Valley Lawyers who will review your financial situation and help you make important legal decisions about your financial future. Our attorneys can help you though the entire bankruptcy process and are always available to answer any questions you have about Chapter 13 bankruptcy.