Long Beach Chapter 13 Attorneys
Reorganize Your Debt & Protect Your Valued Assets
In many cases, risking sizeable portions of your assets, finances, and property in Chapter 7 bankruptcy is less than ideal and not completely necessary. Chapter 13 bankruptcy offers an interesting and effective alternative that strives to reduce and reorganize your debt, rather than completely eliminate it. In a successful Chapter 13 filing, the typical petitioner ends up repaying much less of their original debt and spaced out over a three- to five-year period to make it easier.
Wadhwani & Shanfeld is a Long Beach bankruptcy law firm that has helped manage 12,000+ bankruptcy cases for our clients. If you want to file for Chapter 13, you can trust in our lawyers to give you the legal insight and compassionate guidance required to make it work.
Do not hesitate to call us at 800-996-9932 to set up a free consultation, during which we can help you figure out if Chapter 13 is really the right form of debt relief for your unique situation.
Who Should Use Chapter 13 Bankruptcy?
Diving headfirst into bankruptcy is a considerable gamble. Without full preparation and knowledge, you could inadvertently sacrifice some of your most valued possessions, giving them up to debtors and banks. As our Long Beach bankruptcy attorneys can tell you, Chapter 13 filings can be utilized as somewhat of a bankruptcy middle ground.
You may benefit from Chapter 13 bankruptcy if you:
- Do not pass the means test due to a high monthly income.
- Do not want to risk losing your home to foreclosure due to filing for bankruptcy.
- Want the impact on your credit score to be minimized and manageable.
- Can reasonably afford to repay a portion of your debt over an extended period of time.
- Possess $394,725 or less in unsecured debts, and $1,184,200 or less in secured debts.
The Right Plan Can Make All the Difference
Chapter 13 bankruptcy is all about finding a way to help you live comfortably and debt-free again while also compromising with debtors and financial institutions so they do not attempt to reclaim your property. This is a delicate balance that often requires professional legal assistance to accomplish.