Bankruptcy

Lassen County Chapter 13 Bankruptcy Attorney

Bankruptcy is designed to help individuals who are experiencing financial difficulty to erase their debts, or pay it off on a schedule. Chapter 13 offers an opportunity to catch up on past-due mortgages or car payments on a 3 to 5 year payment plan. After following this plan, remaining debts are relieved and you get to keep your property, removing your stress and worries.

Through a Chapter 13 repayment plan, you can eliminate up to 100% of your unsecured debt. It is often a better result than struggling to repay each individual creditor, since there is no interest on your chapter 13 payments. You will not have to sacrifice assets, such as your home, as you would when filing chapter 7. Many times, individuals who have too much “disposable income” turn to Chapter 13 to help them organize their finances.

Bankruptcy is the most effective way to start a new financial slate. You can discharge your debt after paying a portion of them, and then wave goodbye to them at the end of your repayment plan. You will be protected from the efforts of debt collectors, meaning no annoying phone calls or letters. You will not have to give up your home, car, or other possessions to get relief from debt.

Depending on the amount of your disposable income, your monthly payments can vary. Assessing this amount can be tricky. With the help of an experienced bankruptcy attorney, you can be more prepared for your Chapter 13 bankruptcy. Some of the information your attorney will need includes:

• A complete list of all creditors
• The amounts and nature of all creditors claims
• A list of all debtor’s property
• Amount of debtor’s income, source of debtor’s income
• Pay stubs for past 6 months, and,
• A list of all monthly living expenses including, housing, clothing, utilities, taxes, and food.

Once your attorney has all the necessary information he or she will begin drafting the necessary documents.

Lassen County Bankruptcy Attorney

If you are considering filing for bankruptcy, don’t do it alone. An attorney from Bowman & Associates can make the process smoother for you by handling paperwork and communications with the required parties. We will explain every step of the process to you and make sure you make informed decisions on your case. Contact our skilled bankruptcy attorneys today for a free consultation!

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