Bay Area Chapter 13 Bankruptcy Attorney
What Is Chapter 13 Bankruptcy?
If you have a regular income, Chapter 13 bankruptcy can allow you to create a plan to repay all or part of your unsecured debt (credit cards and medical bills, for example). Generally, filing for Chapter 13 bankruptcy can let you keep valuable property, such as cars and homes, making it a welcome relief.
Are you wondering whether filing Chapter 13 bankruptcy could benefit you? Do you want guidance on the filing process and advocacy in legal proceedings? Turn to Compass Bankruptcy Law Group. We are a compassionate firm that has helped numerous clients overcome debt and get their lives back on track.
Schedule a free consultation with a trusted Bay Area Chapter 13 bankruptcy attorney at our office today. We offer affordable, $0 down services and can arrange payment plans. To start with us, simply reach out by phone or submit our online contact form.
Call (888) 850-0624 to get our help. We serve the Bay Area and North Bay Area from our Benicia office.
Why Choose Compass Bankruptcy Law Group?
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Compassionate SupportWe understand the emotional toll of financial difficulties and are dedicated to providing compassionate, empathetic support throughout your bankruptcy journey
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Proven Track RecordOur attorney's experience includes cases presented before the Supreme Court, highlighting our capability to handle complex and high-stakes legal matters.
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Board Certified RepresentationOur attorney is a board-certified specialist, ensuring you receive top-tier legal representation.
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Offering 100% Free ConsultsWe offer free consultations to ensure you get experienced advice without any financial burden upfront.
How Long Does Chapter 13 Bankruptcy Take?
To file for Chapter 13 bankruptcy, you will create a repayment plan that will last between three and five years. Generally, the length of the repayment plan will depend on your income, expenses, and the amount of debt you owe. Once you complete your repayment plan, any remaining qualifying debts may be discharged, providing you with a fresh financial start.
Property Loss & Chapter 13
Generally, you will not have to give up “exempt property” when you file for Chapter 13 bankruptcy.
Exempt property includes but is not limited to:
- Your home or other residence (up to $600,000)
- The equity in a car or other motor vehicle (up to $3,625)
- Many tax-exempt pension and retirement plans
- Jewelry, art, and personal heirlooms (up to $9,525)
- Necessary health aid equipment and technologies
- Insurance, wage, and public benefits
- Alimony and child support
It is important to note that you can keep non-exempt property through Chapter 13. You will have to pay for non-exempt property through your repayment plan.
Chapter 13 vs. Debt Consolidation
Let us start with general definitions of bankruptcy and debt consolidation. Bankruptcy is a court-supervised process where you can restructure, reduce, and discharge debts. Debt consolidation involves combining multiple debts into a single loan to make payments more manageable.
The two differ in these key ways:
- Chapter 13 bankruptcy allows you to reduce the debt you must repay, while debt consolidation does not.
- A Chapter 13 bankruptcy will stay on your credit report for about seven years. Debt consolidation may initially negatively impact your credit score, but you can improve your score by paying the debt off quickly.
- Filing for bankruptcy puts a legal stay on creditors, protecting you from them. Debt consolidation does not offer this safeguard.
How a Bay Area Chapter 13 Bankruptcy Attorney Can Help You
While filing for Chapter 13 bankruptcy can provide much-needed relief, you may have to overcome many hurdles when filing and after. Here is where Compass Bankruptcy Law Group can be your guide.
We can do the following and more:
- Gather necessary documents and information to prepare to file for Chapter 13 bankruptcy
- Handle the logistics of filing at the appropriate bankruptcy court
- Draft a legally compliant repayment plan proposal that serves your best interests
- Help you avoid pitfalls in the filing process and look out for your rights
- Offer counsel during your repayment period, providing answers to legal questions and addressing concerns that arise
Our founding attorney, Reno Fernandez, is a certified specialist in bankruptcy law with more than 16 years of experience in the field. His insights and know-how guide everything we do and have benefitted clients just like yourself.
Are you interested in finding out more about our firm and what we can offer? Arrange a free consultation today.
Call (888) 850-0624 or contact us online to get started with Compass Bankruptcy Law Group.
