California Chapter 13 Lawyer
Bankruptcy is a toolbox, filled with tools to help you overcome your debt. Chapter 13 bankruptcy is simply a bigger, better stocked toolbox. At the Law Offices of Brian A. Barboza, we will take great care to review your case and determine what toolbox makes the most sense to use to resolve your debt problems. If Chapter 7 bankruptcy truly makes the most sense, we will advise you to use that toolbox. If your case has a few more nuances or unique issues that are a bit more challenging to address, Chapter 13 bankruptcy may very well be your best option. We will help you use it.
If you are ready to overcome your debt through the bankruptcy process, contact the law firm to schedule your free initial consultation.
The Tools of Chapter 13 Bankruptcy
Chapter 13 involves the creation of a repayment plan. Through this plan, you can create a way of paying off priority debts that would not be dischargeable in Chapter 7, such as child support and alimony, tax debt and even student loan debt in some cases. You also may be able to stop interest and penalties on these types of debts.
Perhaps the most powerful tool in the Chapter 13 toolbox is the ability to strip your second mortgage. If your first mortgage is upside down, you may be able to eliminate your second mortgage entirely. Similarly, you may be able to do a cramdown of your car loan if your car is worth less than what you owe. For example, if you owe $15,000 on a car worth $8,000, you may be able to pay off only the $8,000 your car is worth.
Contact Us for a Free Initial Consultation
Want to know more about the advantages of Chapter 13 bankruptcy? Call our Santa Rosa attorney at 707-304-5251 or toll free at 866-965-2831, or send us an e-mail.
