Call A Chapter 13 Bankruptcy Attorney. Most Qualify for Chapter 13.

Most debtors can qualify for Chapter 13 if they have an income.  You must have   a regular source of income and owe unsecured debts of $336,900.00, or less, and whose secured debts are $1,010,650.00, or less.  You may file Chapter 13 if you meet these initial prerequisites.

Debtors who are facing foreclosure of their home, repossession of their vehicles, seizures of assets and IRS wage garnishments, can stop such actions of creditors by filing for Chapter 13 protection if they meet the qualifications of having a regular source of income and the total amount of their debts are within the amounts of debt limitations of the Title 11 under Bankruptcy, Chapter 13. Debtors file a plan of reorganization involving monthly plan payments for a minimum of three years, but not more than five years. During the term of the Plan, the debtor pays any arrearages for secured property that are to be retained and non-dischargeable liabilities such as certain kinds of taxes.

Payments to the court-appointed Chapter 13 Trustee must begin within thirty (30) days of the petition date. The Chapter 13 Trustee distributes ninety percent (90%) of the funds to creditors pursuant to the terms of the Plan.

The Trustee retains the remaining ten percent (10%) to cover his/her costs of operation. Usually, unsecured creditors receive much less than full payment of their claims - sometimes very little or nothing. Automobile and truck loans can be modified to pay the lien holder only the value as of the date of the petition, plus reasonable interest over the plan-payment period.

The Chapter 13 debtor is entitled to receive a Discharge Order from the Bankruptcy Court upon completion of all payments of a Plan that has been confirmed by the Court. The Discharge Order releases the debtor from all claims of creditors provided for in the Plan or disallowed by the Court.  This is one of the protections under Chapter 13 bankruptcy.

A creditor who received timely notice of the filing of the Chapter 13 petition, but failed to file a formal written claim may NOT thereafter bring or continue a legal action to collect the discharged debt.

Certain long-term obligations of a debtor are not, however, discharged by the filing or successful completion of a confirmed Chapter 13 Plan. Home mortgage payments are an example of this. The obligations of the debtor survive completion of the Plan. In other words, you have to pay the remaining balance on the debt. Home mortgage payments and vehicle payments when a debtor elects to retain such assets, alimony, child support, most student loans, debts arising from death or personal injury due to driving while intoxicated or under the influence of drugs; and debts for restitution or for a criminal fine. 

If a Chapter 13 Trustee or a creditor files with the Court an objection to Confirmation of a Plan, the Court schedules a hearing to determine if the proposed Plan complies with the law. The Plan must provide that all the debtor's projected net income will be paid to the Chapter 13 Trustee for the life of the plan. Net income is determined by applying the debtor's take-home pay against his monthly reasonable and necessary expenses.

Filing Chapter 13 | Most qualify for Chapter 13? | My law office has represented clients in San Diego County for the last 20 + years | Call Bankruptcy Attorney at 619 447-6780 for a fresh start.

Whether you need relief from garnishments, liens, foreclosures, credit card debts, medical bills or the constant harassment from your creditors, Bankruptcy can help you get a fresh financial start. Please call for your free consultation!

Call (619) 447-6780 and learn about:  

How Bankruptcy Can Stop Creditors from Harassing You  

  How to Eliminate most OR all of your debts  

   What property you can keep after a Bankruptcy Filing

 Whether Chapter 7 liquidation or Chapter 13 is right for you and much more!

This communication is an “Advertisement” as defined by the California Rules of Professional Conduct and California Business and Professions Code. No communication herein shall create an attorney-client relationship unless a separate retainer agreement is signed by an attorney and client. This material is for informational purposes only and not intended to provide legal counsel or legal advice to you.

The Law Office of David A. Casey represents individuals and businesses seeking Bankruptcy relief.

Call (619)  447-6780   Talk with a Bankruptcy Attorney today!

Filing Chapter 13 | Most qualify for Chapter 13? | My office represented clients in San Diego County for the last 20 years | Call Bankruptcy Attorney at 619 447-6780

          
We are a debt relief agency. We help people file for relief under the Bankruptcy Code.

Spring Valley CA Bankruptcy Attorney.  Spring Valley Bankruptcy CA

 Bankruptcy Spring Valley Attorney. Spring Valley Bankruptcy Debt Relief