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Sacramento Chapter 13 Bankruptcy Attorneys

Talk With a Lawyer About Chapter 13 Bankruptcy

For many people in financial trouble, chapter 13 bankruptcy is a good option. At Attorney Debt Reset, we can guide you through the process. Our law firm is dedicated to helping people reset their debt. We use legal and financial knowledge to help our clients resolve their financial problems.

What is Chapter 13 Bankruptcy?

Chapter 13 bankruptcy is a court-ordered debt consolidation plan, which requires that you pay your creditors a specified amount each month. How much you are required to pay is determined by the amount of money you make – your gross income. Even though chapter 13 bankruptcy requires you to make a monthly payment on your debt, there are many reasons why chapter 13 can still be a very good solution to your financial problem.

When Bankruptcy Is Best

One benefit of a chapter 13 bankruptcy is that instead of having to make several payments each month to many different creditors, chapter 13 bankruptcy only requires you to make one monthly payment – to the bankruptcy trustee. The bankruptcy trustee then takes your payment and disburses it accordingly to your creditors.

Further, even though you are required to make a payment to the trustee each month, often times this payment is literally a fraction of what it would be if you chose not to file chapter 13 bankruptcy. For example, many of our clients make monthly payments of $1,000-$2,000 per month on their debt before their bankruptcy. Our bankruptcy attorneys can often reduce this payment in chapter 13 to as little as $100 per month, just a portion of what their debt payments were before they filed for chapter 13 bankruptcy protection. In fact, sometimes we can help our clients design a chapter 13 plan that does not require any payment to your unsecured creditors. This means you are only required to pay your secured creditors such as your vehicles.

You may want to consider chapter 13 bankruptcy if you are in certain situations:

  • Someone you care about has co-signed on a loan for you
  • You are trying to protect your home from foreclosure and you are behind in payments
  • You have a large outstanding tax liability to the IRS
  • You are ineligible to file bankruptcy under chapter 7
  • You have a large domestic support obligation
  • You are trying to get rid of a 2nd mortgage, 3rd mortgage, or equity line that is secured against your home
  • You are behind on your car payment and are trying to save your car from repossession

While there are various reasons why you may want to consider chapter 13 as an option, talking directly with our lawyers is the best way to help you decide. Our attorneys can explain chapter 13 bankruptcy in detail so that you are comfortable with the entire process.

Chapter 13 bankruptcy may just be the best thing possible for your financial situation. Often times our clients liquidate their retirement accounts and blow through their savings while trying to tread water and pay their bills. Before you do something drastic like this, please talk to one of our experienced bankruptcy attorneys. If you choose to file bankruptcy, you will find that life after bankruptcy has far less financial pressures and you should be in a position to begin saving for more important things in your life – like a child’s wedding or your retirement.

Free Consultation – Reset Your Debt Today

If you are struggling financially, we urge you to push the reset button on your debt today. For your free attorney consultation, call Attorney Debt Reset today at 1-877-273-7383 or simply complete our online contact form.