Chapter 13

California Chapter 13 Bankruptcy Lawyers​

In today’s economy, many individuals and families are struggling to make ends meet. With the changes that were made to the bankruptcy laws in the past few years, people came to believe that they would be ineligible to file for bankruptcy protection. However, this is not always the case. Many people still qualify for bankruptcy and can explore it as an option to regaining control of their financial situations.

At the Temecula and Covina law offices of Cristiano & Lillard, we have years of experience handling Chapter 13 bankruptcy cases. Our attorneys are fluent in the language of the recent changes to the bankruptcy laws and can help you understand how they may be affected. We take the time to ensure that our clients understand their options and what filing for bankruptcy means for their futures. Contact us  today to speak with an attorney about your Chapter 13 questions or concerns.

Chapter 13

On the other hand, the Chapter 13 Bankruptcy is the reorganization type of bankruptcy where the debtor is allowed three to five years over which to pay back the debts. There are various factors that would determine whether you should opt for Chapter 7 or Chapter 13. In Chapter 13, the debtor retains ownership and possession of all of his or her assets, but must devote some portion of his or her future income to repaying creditors, generally over a period of three to five years. The amount of payment and the period of the repayment plan depend upon a variety of factors, including the value of the debtor’s property and the amount of a debtor’s income and expenses. Secured creditors may be entitled to greater payment than unsecured creditors.

Lien Stripping

A second mortgage can be stripped in a Chapter 13 Bankruptcy if the value of the property is less than what is owed on the first mortgage. A member of our firm can discuss exactly what this is and what it may mean for you.
We can also assist with Chapter 7 bankruptcy, home foreclosure, stopping creditor harassment and other bankruptcy related issues.

Contact us to speak with an attorney at our firm about your Chapter 13 bankruptcy questions or current financial situation. We offer a free initial phone consultation and accept credit card payment by Visa, MasterCard, American Express or Discover. Payment options are also available.