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In some cases, you may have multiple options for which type of bankruptcy you can file. There will inevitably be factors that make some choices better than others. Our bankruptcy attorneys in Los Angeles will collect information from you and discuss your goals and challenges. After a thorough analysis and a candid conversation with you, we will discuss which bankruptcy path is right for you or if there are alternatives to bankruptcy available.
Chapter 13 bankruptcy can provide numerous benefits, including.
- Flexible repayments: Chapter 13 allows for flexibility in repaying your debt, such as when it comes to the terms of your payments, amount you are payment, etc.
- Consolidate payments: You are able to consolidate your debts into a single monthly payment to the trustee, who will disperse these payments to creditors.
- Keep assets: Since you are repaying your debts, you are often able to keep more of your nonexempt assets than allowed by Chapter 7.
- Automatic stay (stop all collection actions): Like all bankruptcy filings, Chapter 13 provides you with the protection of automatic stay, which halts collection activities such as foreclosure, harassing calls, repossession, liquidation, and judgment enforcement while the bankruptcy is in progress.
- Reduced overall debt: You will typically only be responsible for repaying a fraction of your debts. After you complete your payment plan, the court will allow you to wipe out the remaining eligible debt.
- Less negative effect on credit: Chapter 13 reorganization may be less harmful to your credit than liquidation in Chapter 7. A Chapter 13 stays on your credit for 7 years while a Chapter 7 typically stays o for 10 years.
To learn whether Chapter 13 makes sense for you, speak with an experienced lawyer. At Weintraub Zolkin Talerico & Selth LLP, our attorneys have helped thousands of people file bankruptcy in Los Angeles and throughout California.
To arrange an appointment and case analysis with one of our Los Angeles bankruptcy attorneys, contact us online.
Hear From People We've Helped
Honesty, Integrity, and Respect for the LawSally C.
Courageous Judicial Officer of the CourtFormer Client
Honor, Compassion, and Zealous Respect for the LawMS
"David Zolkin’s tenacious advocacy restored my faith in the judicial system. He was able to secure an order dismissing the debtor’s case with a permanent bar; something unheard of in bankruptcy. This, in turn, protected my rights as a creditor."Former Client
"We remain incredibly grateful!"Patrick K.
"Jim Selth has always come through in a very professional, timely, and responsible manner."Marc B.
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