An opportunity for a fresh start.
Chapter 13 is designed for individuals with regular income who would like to pay all or part of their debts in installments over a period of time.
There are many reasons why Chapter 13 bankruptcy is often more appropriate for a person in debt than Chapter 7.
Whether you have a large volume of property you are concerned with losing, did not qualify under the means test for Chapter 7 or you simply feel better knowing that you are paying off your debts, Chapter 13 is a viable and healthy option for many people.
Our experienced attorneys provide Chapter 13 bankruptcy services. By having someone on your side that you can trust, you will feel confident about moving in the right direction and getting the relief that you deserve.
Under a Chapter 13 bankruptcy, a person in debt will create a repayment plan known as a “wage earners plan” based upon income, expenses and the debts that are owed. Payments will be made over the life of the plan, which is generally 3 to 5 years.At the end of the repayment term, all remaining debts will be discharged.
It is wise to seek the advice of a Chapter 13 bankruptcy lawyer as soon as possible. Hiring a qualified bankruptcy attorney in Ontario, Ca will give you access to detailed knowledge of the best way to protect your assets in a bankruptcy.
Get Expert Lawyers to File Your Chapter 13 Bankruptcy
Our bankruptcy attorneys can help families and individuals get the most out of Chapter 13 bankruptcy. We fully evaluate your financial situation, debt and income to ensure that Chapter 13 is your best option.
Bankruptcy isn’t about giving up. It’s about taking action to rebuild your credit and your financial health. We have seen year after year with all our clients, how a well-crafted bankruptcy can dramatically improve people’s lives. Chapter 13 is a personal bankruptcy and ends with discharge. Browsing publicly available online bankruptcy forms may give you an idea that hiring the best bankruptcy attorney for chapter 13 filing, to navigate the process and maximize your bankruptcy exemptions. Our attorneys’ knowledge and familiarity maximize your bankruptcy exemptions. with the bankruptcy code, will will provide you with expedient guidance.
The Chapter 7 process allows for the elimination of your unsecured debts following the liquidation of nonexempt assets. In many cases, you may be able to find relief from your debt in as little as four months and may be able to maintain possession of your most valued assets.
Chapter 13 is a process by which your finances are reorganized. Instead of liquidating your assets to pay off your debts, you and the court work with your creditors to put together a manageable payment plan for you to pay off your debts over a period of a few years.
As a result, Chapter 13 can allow you to get out from under unmanageable debt, while letting you keep much of your property and other assets.
At Hedtke Law Group, our California bankruptcy attorneys concentrate on crafting the best debt solutions for each of our clients. We work tirelessly to help individuals, families, and businesses resolve financial difficulties in a way that best suits each individual situation.
Contact us today to learn more about how our legal team can help you resolve your outstanding debts and put you on a path to financial strength.
Why Choose Chapter 13 Bankruptcy?
Individuals who are considering bankruptcy tend to choose Chapter 13 bankruptcy over Chapter 7 bankruptcy, either because their income and assets exceed the limits to qualify for Chapter 7 bankruptcy, or because they wish to keep assets and properties that would otherwise have been sold off in a Chapter 7 bankruptcy.
Chapter 13 bankruptcy is often a better choice for individuals whose income is sufficient to make regular monthly payments on outstanding debt without the need to liquidate significant assets.
People often choose to file for Chapter 13 bankruptcy in circumstances such as:
- Falling behind on mortgage, car loan, or student loan payments
- Hoping to establish manageable payments to pay off non-dischargeable debt
- Looking to keep ownership of business assets without having to use the more expensive and complicated Chapter 11 bankruptcy process
- Wanting to avoid the greater credit score hit from a Chapter 7 bankruptcy
If you are wondering whether Chapter 13 bankruptcy is the right solution for you, you should contact our knowledgeable bankruptcy attorneys in the Inland Empire to discuss your situation in greater detail.