Mounting bills, late payments and harassment from creditors can cause much anxiety, especially if you have no plan for increasing your cash flow. Unfortunately, these financial problems never go away without a solution, and they typically only get worse. Over the past 30 years, the bankruptcy lawyers at Associates of San Diego, P.C. have helped thousands of clients in San Diego and throughout California get relief from the burdens of debt and financial stress.
Chapter 13 Bankruptcy Explained
Chapter 13 bankruptcy is not as well-known as Chapter 7, and it still requires you to repay debts rather than having them eliminated completely, but it possesses many advantages to the consumer. It is much easier to qualify for Chapter 13 bankruptcy since you may not eligible for Chapter 7 if you are a working individual with enough disposable income to put towards paying your debts. It also gives you the ability to address all of your creditors at one time, rather than putting up with on-going creditor harassment or trying to negotiate a settlement with each individual creditor. Also known as a “wage earner’s plan,” Chapter 13 allows you to consolidate your debt with a 3 to 5-year payment plan, depending on your monthly income. Your creditors can participate in the development of the payment plan, and once it is approved by the bankruptcy court, they are bound to abide by its terms.
The process of Chapter 13 bankruptcy is made easier with an experienced attorney who can effectively review your debts, assets, and cash flow. Individuals who have experienced bankruptcy attorneys on their side are in a better position to negotiate reductions in debt with creditors, lower interest rates or extend payment terms. When the plan is approved, you will have the chance to rebuild your finances.
For some people, filing for bankruptcy has a negative stigma that can dissuade them from asking for the financial help that can give them a second chance. America is the land of second chances, and Associates of San Diego, P.C. uses bankruptcy law for its intended purpose: to help people in financial crisis. As soon as we file, all creditor harassment stops, as does the threat of foreclosure and repossession.
Experienced San Diego Bankruptcy Attorneys Are Here To Help You
If you are under financial stress and suffering from mounting debt, there is help available. The sooner you start, the faster you can get back on track towards financial freedom. For more information about how the bankruptcy attorneys at Associates of San Diego, P.C. can help you, contact our office at (619)-272-8621, or contact us online. We serve clients in the San Diego area, San Diego County and other communities in San Diego and California.