How Chapter 13 Bankruptcy Works
The lawyers of Weintraub & Selth, APC can be your guides and your advocates through the Chapter 13 bankruptcy process. Because we are so experienced with all types of bankruptcy, we can explain the Chapter 13 bankruptcy process in clear language and help you achieve your goals as expeditiously as possible. Our attorneys have more than 75 years of combined experience.
When you meet with an attorney at Weintraub & Selth, APC, we will discuss your debts, assets, income, and goals for debt relief. If Chapter 13 bankruptcy is the right solution for you, our bankruptcy attorneys in Los Angeles will carefully explain how it works and what you can expect.
The Chapter 13 Process
As soon as you file your Chapter 13 case, the automatic stay is imposed. This is a court order that prohibits creditors from taking collection actions against you or even contacting you directly. Wage garnishment, repossession, foreclosure actions, litigation, judgment enforcement, and creditor harassment all must stop.
Other parts of the Chapter 13 process include:
- You and your creditors will receive a letter from the bankruptcy court notifying you of the meeting of creditors.
- At the meeting of creditors we will represent you and discuss your case with the bankruptcy trustee assigned to your case. Creditors are not typically present at this meeting.
- The bankruptcy attorneys at Weintraub & Selth, APC will help you formulate a repayment plan of your debts that will typically allow you between three and five years to repay your negotiated debts. We have had decades of success helping our clients re-structure their debt for lower payments on loans and other types of debt.
- After we have formalized a re-payment schedule, we will present it to the bankruptcy trustee who will recommend that the court either approve (confirm) or deny the plan at the bankruptcy court confirmation hearing. We will represent you at this hearing and argue against any objections to the plan.
- Once the re-payment plan is confirmed, you will begin making payments until the plan is completed.
- Once you have completed the re-payment plan you will receive a discharge of all remaining eligible debts.
The above represents a very brief overview of the Chapter 13 process. Since each case is unique and you may have specific questions about Chapter 13 bankruptcy, call Weintraub & Selth, APC, for clear answers and practical advice from experienced bankruptcy attorneys in Los Angeles.
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