Call Now
(916) 780-7005
Click Here
Free Case Analysis
MENU
  • Spectacular!

    I liked your fast, friendly service. You were all knowledgeable in the area of bankruptcy. Your treatment of me as a client was spectacular! You were great at promptly responding to my questions and concerns. I loved that you provided courteous and quick responses to all my questions.
    --Donna
  • Highly Recommended!

    I have worked with Seth and he is the utmost professional in how he works with his clients. If you need an attorney you can trust I would highly recommend the Law Office of Seth Hanson.
    --David
  • Very Professional.

    Everyone was very professional and efficient. Seth, and everyone that I had contact with were very knowledgeable. I was very pleased with how we were treated by his staff. My questions were always answered promptly. I was very pleased with the service I received and would not hesitate to refer someone to your firm.
    --Anonymous
  • Non-judgmental.

    You were very open and answered all of my questions. You never made me feel like I was asking a dumb question. I was comfortable with your knowledge of the law. It was hard for me to make this decision to move forward in my life. Everyone was friendly to me and respectful. Non-judgmental. Every question I asked was answered promptly and appropriately. I would recommend you.
    --Anonymous
  • More Than Expected!

    I found the firm's representation to be more than what I expected. I was always kept in the loop, all my questions were answered (whether or not I asked more than once the same question), and I felt completely supported by the firm staff when going through this (at times) scary ordeal. Thank you again.
    --Joanna
  • Very Impressed!

    I liked that you had very friendly, caring staff. You were all very knowledgeable. Your treatment towards me was excellent and you quickly responded to all my concerns. If a friend asked of your overall impression, I would say that we were very impressed and we would recommend you to them.
    --Danielle

Top Reasons To File Chapter 13 Bankruptcy

chapter 13, bankruptcy sacramento, chapter 7, attorney, attorneys, lawyer, lawyers, California, CA, bankrupt, Bankruptcy, Stockton, citrus heights, roseville, sacramentoIn our guide to Chapter 13 Bankruptcy, we discuss how this type of debt relief is much broader in scope when compared to a Chapter 7 filing.  One of the most common questions posed to bankruptcy attorneys is: “which form of bankruptcy is the best for me?” This is a question that only an experienced and straight-shooting bankruptcy attorney can truly answer with any form of certainty, and this only after they have had the chance to study your situation after your initial consultation.  While neither chapter is inherently “better” than the other, there are some key indicators that can help steer you in the right direction.

You Don’t Qualify for a Chapter 7 Bankruptcy

The most evident reason to file a Chapter 13 bankruptcy is if you don’t qualify for a Chapter 7. If you make too much money according to your state’s guidelines, you won’t be able to file a Chapter 7 bankruptcy but there is a chance you can still qualified for a Chapter 13 filing.

Your Equity in Your Home Won’t be Protected in Chapter 7

The great thing about Chapter 13 is that you usually get to retain the property that you’d like to keep, including your home. A helpful first step in determining how your home equity affects bankruptcy is to subtract your remaining mortgage balance by the value of your home. This is valuable information to know as every state is different in the amount of home equity you can exempt through the homestead exemption. If you haven’t equity in your home, the trustee can’t sell any of your property including your house.

You’re Trying to Get Caught Up on Delinquent Payments

A Chapter 13 bankruptcy will spread out what you owe over the course of 36 to 60 months, allowing you to get caught up on all your payments. This could be considered both a pro and con as the process will save your property but at the same time the bankruptcy process will take longer. When you file a Chapter 13 bankruptcy, you will come up with a repayment plan consisting of which creditors will get paid, how long it will take, and the values of all your property. This can be an overwhelming process for some as both the trustee and your creditors can object to your plan. Getting help from a Sacramento Bankruptcy Attorney can not only greatly increase your chances of success, but give you a person experienced in the process to assist you in coming up with your plan.

You have 2nd or 3rd Mortgages

Through a process called “lien stripping”, a Chapter 13 bankruptcy can eliminate certain liens on your property. Junior leans which are secondary to your initial mortgage can often be removed from your property all together under certain situations.

You Have Tax Debt

Chapter 13 bankruptcy is also an excellent tool to catch up on back taxes.  Taxes are generally not dischargeble in bankruptcy and the taxing authorities can be pretty aggressive in their efforts to collect.  A Chapter 13 bankruptcy not only protects you from garnishment and bank levies by the IRS or State Franchise Tax Board, it also allows you 5 years to pay off the tax debt.

You Have an Income to Pay Down Your Debt

Chapter 13 bankruptcy is sometimes referred to as the “wage earners bankruptcy” because it’s geared towards debtors who are earning a wage/salary or have regular income. If you have enough income after expense to pay your debts, then you should qualify for a Chapter 13 bankruptcy.

 

Chapter 13 bankruptcy can be an extremely effective vehicle towards repaying your debt, saving your home and vehicle, paying off back taxes, and eventually improving your credit. It can be a complicated process, so the logical first step before filing on your own is to obtain the services of qualified California bankruptcy attorney. Doing so will not only increase your chances of obtaining a successful discharge, but will also give you valuable guidance you need during the process.

Categorized in: