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.
Steps in a Chapter 13 Bankruptcy Case
- Credit counseling course: First, you must complete the required credit counseling course before you ofile. The course must be from an approved agency on the list of the U.S. Trustee's website.
- Bankruptcy Petition and Filing: You must complete and file all the paperwork necessary for your petition. In your petition, you must disclose all information related to your debts, income, assets, properties, recent tax returns, etc. You should also propose a repayment plan to show the courts how you intend to repay the debts. An attorney can help you file your paperwork and structure your plan.
- Automatic Stay: 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.
- Trustee Appointed: The court will appoint a bankruptcy trustee to oversee your case and handle the repayment plan to your creditors.
- Meeting of Creditors: 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.
- Confirmation Hearing: 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.
- Begin Payments: Once the re-payment plan is confirmed, you will begin making payments until the plan is completed.
- Discharge & Bankruptcy Completion: Once you have made your last payment, you will have completed the re-payment plan and receive a discharge of all remaining eligible debts.
The above represents a very brief overview of the Chapter 13 process. We can 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.
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 attorneys in Los Angeles.
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Our experienced attorneys have successfully represented thousands of businesses and individuals with financial problems.
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One of the few true full-service bankruptcy firms in Los Angeles specializing in all chapters of the Bankruptcy Code and out of bankruptcy solutions.