While there are a number of benefits that a Chapter 7 bankruptcy filing provides, there may be a number of reasons why filers might instead choose Chapter 13 bankruptcy. Not everyone can qualify for Chapter 7. Also, while it may eliminate a substantial amount of debt, not every sort of debt is dischargeable under Chapter 7. Chapter 13 bankruptcy, on the other hand, allows for individuals in debt to reorganize their debt and make it more manageable.
As a bankruptcy attorney practicing in California since 1987, I understand the benefits of Chapter 13. By listening to your concerns and providing a straightforward assessment of your situation during a free initial consultation at my La Mesa office, I can let you know if Chapter 13 is the right option for you in eliminating your debt.
During this process, you will put together a petition and payment plan for restructuring your debt for the approval of the bankruptcy court. A Chapter 13 filing can allow you to earn a regular income while paying off your bills and mortgage payments in a more manageable way. In some instances, it allows you to reduce unsecured debt as well as discharge some debts.
During the Chapter 13 filing period, the court places an automatic stay upon your debt collectors. This means that you will be given breathing room until the court decides whether to approve your debt reorganization plan. Creditors must not attempt to collect any debt from you while this automatic stay is in place.
When considering filing Chapter 13 bankruptcy, my staff at Michael Koch, Esq. Lockhart, Britton & Koch, in La Mesa, will carefully analyze your circumstances to let you know whether Chapter 13 is right for you. We will file the necessary paperwork and propose a plan regarding the reorganization of your debt for the bankruptcy trustee and your creditors.
We will be your advocate at any hearings or meetings of creditors. And if for some reason you are unable to complete the terms of your Chapter 13 reorganization plan, we will work towards converting your case to a Chapter 7 bankruptcy if at all possible.
To speak with me during a free initial consultation, please contact Michael Koch, Esq. Lockhart, Britton & Koch by calling us or contacting us online.
I am a debt relief agency. I help people file for bankruptcy relief under the Bankruptcy Code.