Learn More About Chapter 13
A Chapter 13 bankruptcy allows debtors to reorganize and pay off unsecured debt over a three-five year period. In many cases, the unsecured debt is discounted, and the debtor only pays a portion of the debt. Your individual circumstances, including income, expenses and total debt, are examined to determine the amount of your payments and whether your unsecured debt will be discounted.
Our legal team at The Law Offices of Kelly Warren* has served individuals and small-business clients throughout San Gabriel Valley. Our staff is led by our principal bankruptcy attorney, Kelly Warren. Mr. Warren has more than three decades of legal experience handling a wide range of bankruptcy and financial matters, including Chapter 13 bankruptcy for individuals and unincorporated businesses in California.
We provide individuals and small-business owners with the information they need to make informed decisions about bankruptcy. If bankruptcy is right for you, we will guide you through the process and help you gain a fresh start.
Creating A Payment Plan To Help You Pay Off Your Debt And Retain Assets
If you need to buy yourself time or get creditors off your back while you make arrangements to pay your debts, a Chapter 13 bankruptcy may be right for you. A Chapter 13 bankruptcy can be an effective way to restructure a loan or debt (sometimes referred to as a “cram down”).
Take, for example, a car with a fair market value below the amount due on the car loan. The secured portion of the loan (the fair market value of the car) can remain secured by the car. The amount due on the loan above the value of the car is deemed “unsecured” and subject to the same terms as all other unsecured debt, which is often paid at a discount in bankruptcy.
There are other financial benefits you may receive when you file Chapter 13 bankruptcy. Our team will explore all options when we create a legal strategy based on your income and obligations.
Work With A Skilled Lawyer To Stop Debt Collector Harassment And Rebuild Your Credit
Mr. Warren is eager to discuss your Chapter 13 bankruptcy matter with you today. Contact our Covina firm online or over the phone at 626-859-1030 to schedule a confidential consultation. Our firm offers a range of consultation options.
*We are a debt relief agency. We help people file for bankruptcy under the Bankruptcy Code.