Chapter 13 Bankruptcy

Thousand Oaks Chapter 13 Bankruptcy Attorneys

For those who do not qualify for Chapter 7 bankruptcy filing, Chapter 13 bankruptcy offers a solution for debt relief. At Gumm & Green, LLP, our bankruptcy attorneys offer the support and guidance individuals need to overcome their financial difficulties.

Contact us today for a free consultation.

Debt Reorganization

Unlike in Chapter 7 bankruptcy, filing Chapter 13 bankruptcy does not result in debt liquidation. Chapter 13 bankruptcy filing involves a reorganization of your secured debt into manageable payments. Your unsecured debt may be paid in full or in part depending on your debt to income ratio. The repayment schedule is usually set between three and five years.

Avoiding Foreclosure

When you file for Chapter 13 bankruptcy, creditors must stop all actions against you, including home foreclosure. If filed early enough, you can catch up on back payments for your house and continue paying mortgage payments. This avoids foreclosure and allows you to stay in your home.

Who Files for Chapter 13?

Many people who file Chapter 13 bankruptcy have a steady income. They simply ran into financial troubles, causing them to get behind on their payments. Our clients have suffered illnesses, job loss for a period of time and other life-challenges. Our goal is to help them relieve their debt so they can get back on track and begin fresh.

Contact a Bankruptcy Attorney

Our aggressive, dynamic approach to bankruptcy law has helped many people obtain financial relief. Find out the bankruptcy lawyers at Gumm & Green, LLP can help you. Contact us today and schedule a free consultation to discuss Chapter 13 bankruptcy filing. Call 818-707-4233 OR 1-855-707-4233.