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Vacaville California Chapter 13 Bankruptcy Attorney
Limited Time Offer for all of Solano County California residents:
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For details call (707) 394-4195 to schedule a consultation with Muoi Chea, an experienced Bankruptcy Attorney serving Vacaville California and the rest of Solano County California by providing debt relief to consumers and business owners using Chapter 7 Bankruptcy or Chapter 13 Bankruptcy.
You would file Chapter 13 Bankruptcy instead of a Chapter 7 Bankruptcy if:
1. You want to save your home from Foreclosure
2. You want to eliminate the Second Mortgage or Equity Line of Credit on your home. As the value of homes raises, it becomes more difficult to qualify for lienstripping. It is in your best interest to call immediately for a consultation to determine if you qualify.
2. Your Car was just repossessed and you want it back or car repossession is imminent and you want to prevent it.
3. You want to keep all your assets that are not exempt or protected under the California exemption laws. In other words, you have too much assets that you are worried that a Chapter 7 Trustee would “liquidate” or sell them if you filed a Chapter 7 Bankruptcy.
4. Your income is too high to qualify for Chapter 7 Bankruptcy and you need to restructure your debt in an affordable payment plan. A Chapter 13 Bankruptcy is “reorganization” and allows you to keep all your assets while you are making your monthly Chapter 13 plan payments to your creditors. Chapter 13 Bankruptcy involves a payment plan to your creditors where you pay only a fraction of what you owe in most cases. It can be used to stop wage garnishment from credit cards, medical bills, personal loans, taxes, student loans, child support, and alimony by proposing a more reasonable plan payment. Keep in mind that although Chapter 13 Bankruptcy involves a plan payment to creditors, it does NOT mean you pay all your debts back. In most cases you pay very little back and it can be as little as 1% of your debt. Creditors must accept your plan payment no matter how low it is because of the United States Bankruptcy Code.
5. You cannot afford Wage Garnishment. You might be able to reduce your payment or even eliminate most of the debt through a Chapter 13 Bankruptcy.