Alameda County Debt Repayment Plan Attorneys
With Chapter 13, you can place the following obligations into a repayment plan to reduce or discharge them:
- Mortgage arrears
- Non-dischargeable income tax debt
- Car payment arrears
- Debts that are not dischargeable under Chapter 7
- Lien stripping second mortgages
Individuals who do not qualify for Chapter 7 bankruptcy protection due to their income may be able to achieve debt relief through Chapter 13 bankruptcy. Chapter 13 is a debt reorganization that enables you to repay and discharge most unsecured debts within three to five years. It doesn't mean all of your creditors will be paid in full — some unsecured creditors may receive nothing from the plan, but the debt can still be discharged at end of plan. It provides many options for those facing overwhelming financial obligations.
Chapter 13, therefore, may be the best solution to help you stop a foreclosure. If you have enough disposable income to cover your current mortgage payments and your Chapter 13 payment, bankruptcy protection would provide you with three to five years to catch up on your arrears and save your home.
At The Cline Law Group, our Oakland Chapter 13 bankruptcy attorneys have sophisticated experience with bankruptcy petitions. Our lawyers have focused their practice exclusively on Chapter 7 and Chapter 13 for nearly four decades. We are committed to helping you get through the bankruptcy process effectively so you can achieve your goals.
Other Benefits
Like Chapter 7, you benefit from an automatic stay, which prevents creditor harassment and legal actions (lawsuits, levies, garnishments). In addition to placing certain debts into a repayment plan, you may also be able to receive other collateral benefits. With proper guidance, you may be able to:
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Obtain a zero percent interest rate with the IRS or Franchise Tax Board
- Strip off consensual second mortgages
- Reduce the amount of your car payments
- Protect cosigners
- Provides protection from creditors whose debts would not be eliminated in Chapter 7 (examples: taxes, fraud claims, child and spousal support arrears and student loans)
- Strips off consensual second or third mortgages or equity loans from real estate where amount owed on first is more than the value of the property
California Small Businesses
Our legal team has helped many small-business owners determine the best course of action based on several factors. We will discuss your goals and how your formation can affect bankruptcy protection. A few factors to review include the size of the business, debt limitations and whether you have any assets. Depending on your situation, you may be able to file Chapter 13 and stay in business.
Free Consultations
We invite you to contact us today at 510-338-4110 to discuss your situation with a team of qualified California bankruptcy lawyers. The Cline Law Group is across from the Federal Building and located in the same building as the bankruptcy courts for Alameda and Contra Costa counties. Hablamos español.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
