El Cajon Wage Earner Plan Attorney
While Chapter 7 bankruptcy is typically the best option for people facing debt, there are situations where Chapter 7 is not possible or will not provide effective debt relief. Chapter 13 is an option in certain cases where a person may not qualify for Chapter 7 bankruptcy or where a person is attempting to get rid of a second or third mortgage on a house he or she wants to keep.
Unfortunately, many bankruptcy lawyers attempt to use Chapter 13 in far more cases that they should. A large number of Chapter 13 cases fail, but since lawyers can make more in fees from that form of bankruptcy, many still advise their clients to begin the process of Chapter 13 even if it will not work effectively for their debts.
At Financial Law Associates, APC, we will never take advantage of your situation and will only advise Chapter 13 in instances where it can realistically be effective for debt relief. We have the experience to develop a debt repayment plan that is right for you and your situation.
La Mesa Chapter 13 Bankruptcy Attorney
There are basically six ways that a person can deal with his or her debts:
- Finding a way to pay off all of the debts by him or herself
- Credit counseling
- Debt settlement and debt negotiation
- Chapter 7 bankruptcy
- Chapter 13 bankruptcy
- Defaulting on the debts
In a Chapter 13 bankruptcy, a person will create a repayment plan, which is an agreement between you and your creditors. In exchange for making payments over a three- to five-year period, a portion of your debt will be forgiven by your creditors. Our firm can help you create this plan, notify all of your creditors and guide you through all other aspects of the process.
Schedule a Free Initial Consultation at Financial Law Associates, APC
For more information regarding Chapter 13 bankruptcy, contact one of our lawyers at Financial Law Associates, APC. Our firm is available seven days a week by phone and six days a week in the office. Contact us in California to schedule a free initial consultation at 619-928-5649 or toll free at 866-654-5047.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
