Each chapter of bankruptcy has certain criteria that must be met in order to file. Some of our clients qualify for more than one chapter. We always perform a thorough analysis of our clients’ circumstances to determine which path they qualify for and which chapter is best. We also use our experience as bankruptcy attorneys to identify alternatives to bankruptcy because bankruptcy should always be a last resort. You may have trusted family members and friends to discuss your options with but there is no substitute for discussing your legal options with an experienced attorney.
If you are eligible for Chapter 13 bankruptcy, we will offer clear and candid advice for preparing for and completing the process. We will explain the criteria and if necessary, work to help you meet them. To arrange an appointment with our bankruptcy attorneys, call (310) 620-1008 or toll free (877) 716-7285.
Is Chapter 13 Reorganization Right for You?
Chapter 13 bankruptcy allows you to reorganize your debt and pay a smaller amount that has been approved by your creditors and the bankruptcy court under the guidance of a bankruptcy trustee. Some of the eligibility requirements include:
- You have a median income higher than the California median income
- You have the funds to honor the approved repayment plan over three to five years
In Chapter 13 bankruptcy, your debts will be consolidated and reorganized into a repayment plan of three to five years. As we help you refine a repayment plan, we will work to achieve the lowest payments allowed by law on all applicable debts. Our attorneys will use their decades of experience and extensive resources to get a plan approved that helps you maintain your quality of life, retain your assets and move towards long-term financial health.
Because every situation is different and the amount of secured and unsecured debt you have will greatly influence which chapter you are eligible for, contact us for the answers and the guidance you need.