Advantages Of Chapter 13 Bankruptcy
Why Choose Chapter 13 Bankruptcy?
Determine If Chapter 13 Is Right For You
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 Los Angeles bankruptcy attorneys 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. If Chapter 13 is the right option for your situation, there are numerous benefits to Chapter 13 bankruptcy.
- hapter 13 allows for flexibility in repaying your debt. This often means that you will be able to keep more of your nonexempt assets than allowed by Chapter 7.
- Chapter 13 is often used to stop foreclosure.
- Chapter 13 allows debt reorganization and offers more time to pay past due debts.
- Chapter 13 reorganization may be less harmful to your credit than liquidation in Chapter 7.
To learn whether Chapter 13 makes sense for you, speak with an experienced bankruptcy lawyer. At Weintraub & Selth, APC, our bankruptcy 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 or call or toll-free .
Chapter 13 Reorganizes Your Debt
Under Chapter 13 bankruptcy, your debts, including your mortgage, will be reorganized into a repayment plan of three to five years. We will assist you in creating such a plan, negotiating with your creditors and leading the process to get the reorganization plan approved by the bankruptcy court. When the plan is completed, the remaining eligible debt is discharged.
Like all bankruptcy filings, Chapter 13 provides you with the protection of automatic stay. This often alleviates tremendous stress for our clients. The automatic stay halts all collection activities, including foreclosure, harassing calls, repossession, liquidation and judgment enforcement, while the bankruptcy is in progress.
For more information on the advantages of Chapter 13 bankruptcy, contact the Los Angeles bankruptcy attorneys at Weintraub & Selth, APC.