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If you have a legal matter like Auto Accident or Child Support matter, Bankruptcy, or you caught yourself in the Slip and Fall Injury whether you're an individual, a professional, a business owner, or whether you represent a corporation, it is paramount that you hire the best legal team you can in Palmdale and Lancaster CA. Don't leave your outcome up to chance! Our office is known for, and has a reputation for, fighting effectively and aggressively to defend our clients' interests. |
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| Chapter 13 is for Individuals
with a Regular Income |
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| It is designed
for individuals with regular income who would
like to pay all or part of their debts in
installments over a period of time. If your
debts do not exceed certain dollar amounts
as noted in the Bankruptcy Code, you will
be eligible for Chapter 13 Bankruptcy. Contact
us to determine if you qualify. |
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| Under chapter
13, you must file with the court a plan to
repay your creditors all or part of the money
that you owe them, using your future earnings.
The period allowed by the court to repay your
debts may be three years or five years, depending
upon your income and other factors. The court
must approve your plan before it can take
effect |
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After completing
the payments under your plan, your debts are
generally discharged except for domestic support
obligations; most student loans; certain taxes;
most criminal fines and restitution obligations;
certain debts which are not properly listed
in your bankruptcy papers; certain debts for
acts that caused death or personal injury;
and certain long term secured obligations.
Keep you home, auto, furniture, business,
cash, all assets you choose under Chapter
13, because debts and arrears are paid "as
if in full".
We determine your Chapter 13 plan payment
by taking net monthly income less normal living
expenses. The amount left over is paid to
a trustee, who in turn pays creditors monthly. |
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| Chapter 13 is
a federal relief that requires creditors take
less each month from you, for a longer period
of time. It is available to individuals with: |
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- regular income from any source and,
- unsecured debts not exceeding $307,675.00
or
- secured debts not exceeding $922,975.00.
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If the amount
left over cannot repay creditors in full over
3 to 5 years, we reduce the balance owed to
unsecured creditors and sometimes secured
creditors. You pay creditors 0% to 100% of
the balance owing depending on: 1) your budget
and 2) your county's court.
We eliminate all interest on most unsecured
debts and certain types of secured debt. This
reduction of interest, balance owing, and
extended time to pay, makes the payment affordable.
Chapter 13 immediately stops foreclosure.
Delinquent house payments are included in
the payment plan and brought current over
60 months. After filing, regular house payments
are paid outside the plan.
You can payoff your Chapter 13 plan anytime
prior to completion without interest or penalty.
However, if your plan pays creditors less
than 100% of the amount due, you must pay
creditors 100% to obtain an early discharge.
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Contact
us now at (866) 356-3567 for immediate relief.
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