Santa Clarita & San Fernando Valley Bankruptcy Attorney

What is Chapter 13 Bankruptcy?

Chapter 13 bankruptcy is a practical alternative for those who do not qualify for bankruptcy protection under Chapter 7.  Unlike Chapter 7, which eliminates an individual’s dischargeable debts, Chapter 13 restructures your debt.  The debt is consolidated into one lump sum, which then is paid off over time, between three to five years.  There are terms of payment scheduled and approved by the bankruptcy court judge.  Once your bankruptcy petition is approved by the judge, your creditors will no longer be able to contact you or continue attempts to collect the debt.

If you are considering filing for bankruptcy, it is essential that you contact a San Fernando & Santa Clarita bankruptcy attorney.  As many people do not qualify for Chapter 7, you need a knowledgeable attorney to determine whether a Chapter 13 bankruptcy will work in your situation.  If you own a home, you may have the chance to do a loan modification to lower your mortgage payments to a more reasonable payment.  Cutter & Lax are able to handle either type of bankruptcy for you; as well as assist with a loan modification should you own property.

Bankruptcy Lawyer in San Fernando & Santa Clarita

With the proper evaluation of your debt, income, assets and property you may own, the correct handling for your mounting debt problem can be found.  The Chapter 13 bankruptcy option allows you to repay all of your debts in a simpler, more manageable manner.  Getting your debts under control can greatly relieve the stress of being harassed and called by collection agencies.  Finding a solution to a foreclosure threat is also an alternative that can be pursued with this type of bankruptcy option.  Our professional attorneys can carefully review your finances in order to effectively provide you with the best choice for your future.

Due to the complexity of bankruptcy laws, finding the correct option for you is best left to a professional.  Cutter & Lax has years of experience handling bankruptcies for individuals in the San Fernando and Santa Clarita area.  Call us today.

Contact Cutter & Lax, Chapter 13 Bankruptcy Attorneys, for a free consultation.