Los Angeles Chapter 13 Bankruptcy Lawyers
Providing Debtors with Solutions
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 Los Angeles bankruptcy attorneys at SM Law Group, APC can help provide you with the information and the tools you need to make the best decision for you and your family.
Contact us online or by phone at (818) 805-1758 for a free consultation. We offer payment plans for bankruptcy cases because we understand how challenging this time may be for you both financially and emotionally.
What is Chapter 13 Bankruptcy?
Chapter 13 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.
Our attorneys assist many Californians with their Chapter 13 bankruptcy cases. 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. We can 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 - meaning you will have to repay your debts over time through a repayment plan.
A debtor will qualify for Chapter 13 bankruptcy if they receive a steady income and have debts that do not exceed the maximum limit. If you have excessive debt with little income, you may need to instead file for Chapter 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 bankruptcy lawyer. 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.
Benefits of Chapter 13 Bankruptcy
Chapter 13 offers debtors many advantages, including:
- Save your home from foreclosure - You can work out a plan to repay your mortgage arrears so that you can get back on track and stay in your home.
- Protection from creditor lawsuits and actions - Wage garnishments, repossessions, and harassment from creditors must be stopped once you file for bankruptcy.
- Keep most of your property - Unlike Chapter 7 which requires liquidating most of your property, Chapter 13 allows you to keep your belongings, including furniture, car, home, and other personal property.
- Affordable Monthly Payments - You can set a monthly payment plan that is affordable for you, as long as the court approves it. In addition, not all debt needs to be repaid - your remaining debt may even be forgiven once you complete your repayment plan.
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 our Los Angeles Chapter 13 bankruptcy attorneys to schedule a consultation. We can then 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.
For personalized service and honest communication, call us at (818) 805-1758. We’re here to help you start towards a better future.
Individual v. Credit Card Company (harassing phone calls) $250K Settlement
Individual v. Credit Card Company (harassing phone calls) $280K Settlement
Individual Chapter 13 $100,000 of Unsecured Debt Discharged
Individual v. Credit Card Company (harassing phone calls) $175K settlement
Small Business Chapter 7 Over $750,000 Debt Discharged
Individual v. Credit Card Company (harassing phone calls) $300K Settlement
Individual Chapter 7 Over $1 Million Debt Discharged
Individual v. Credit Card Company (harassing phone calls) $150K Settlement
Hard working- Former Client
I would recommend them to anyone.- Joshua N.
Great working with you guys!!- Hermes P.
They were awesome and spent time with me over the phone and answered my questions.- Shawn M.
I was extremely happy and satisfied with my settlement and outcome of my case.- Dan N.
Thank you, Kian, for your professionalism and expertise!- Nathan N.
The absolute best when it comes to handling bankruptcy!- Anna G.
John and the representative who met me at the courthouse were very thorough and guided me every step of the process.- Evitha B.
They made a very stressful situation much easier for me.- Lenny DcComics
I have never experienced more professional care. My phone calls and emails were answered within 5 minutes!- Lenka Wallace
Learn more about the work that is captured in the news. Our team is recognized in our community and among our peers for our tireless devotion to clients facing bankruptcy and personal injury-related matters.