Reorganize Your Debt
Are you facing mounting debt, but only able to pay a small portion of it each month? Would you be able to catch up on your bills if you were just able to get some breathing room? If so, Chapter 13 bankruptcy might be an option for you.
Bankruptcy is not right for everyone; debt negotiation could be a better option for your particular situation. Sometimes, though, it is the only way for a person to get out from under a mountain of crippling debt. At Boyd Contreras, LLP, in San Diego, our knowledgeable attorneys will explain your options and guide you through the bankruptcy process, helping you get on the path to financial freedom.
How Does Chapter 13 Bankruptcy Work?
Chapter 13 bankruptcy is essentially a debt reorganization plan. With this type of bankruptcy, your unsecured debt is rolled into one monthly payment that you make over the period of 3-5 years. The court trustee uses that money to pay your creditors. After the 3-5 years are over, any remaining consumer debt is discharged.
Benefits of Chapter 13 Bankruptcy
Chapter 13 bankruptcy allows people to:
- Protect their assets
- Stop foreclosure proceedings
- Avoid vehicle repossession
- Stop most wage garnishments
- Possibly strip away a second mortgage
Individuals who make too much money to qualify for Chapter 7 bankruptcy or have assets they want to protect may find Chapter 13 bankruptcy a good alternative. This debt repayment plan is particularly helpful for people with non-dischargeable debt like:
- A home mortgage
- A vehicle loan
- Student loans
- Child support
- Spousal support
- Tax debt
To learn if Chapter 13 bankruptcy is right for you, contact our officefor a free initial consultation with our knowledgeable attorneys.
Give Yourself a Chance to Catch Up
To discuss whether or not bankruptcy can help you find debt relief, contact us online or call our office locally at 619-378-4033 or at 949-242-0656 to schedule a free confidential consultation with a knowledgeable California bankruptcy lawyer.
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