Chapter 13 Bankruptcy

Ventura Bankruptcy Lawyer

What if you have debts you can’t discharge, or you want to catch up on mortgage or car payments while keeping your house or car?

You would want as much time as possible to pay back those debts. Chapter 13 can “buy” you the time you need.

Chapter 13 can also help if your income is too high to file Chapter 7, or if you have assets you can’t exempt in Chapter 7.

Chapter 13 bankruptcy can help you stop foreclosure and save your house if you are behind on payments.
Chapter 13 allows you to stop car repossessions and catch up on payments.
A “cramdown” in a Chapter 13 bankruptcy allows you to reduce the principal balance of a debt to the value of the property it is secured by.
Chapter 13 lien stripping allows people who have first mortgages exceeding the value of their house to remove or “strip off” junior liens such as second or third mortgages. (This is pretty rare in California these days; but who knows what the future holds for our crazy real estate market.)
Chapter 13 payment plans are based on your ability to pay. This allows you to make manageable payments on non-dischargeable student loans.
Chapter 13 stops credit card interest.
Chapter 13 allows you to avoid debt lawsuits while you are under the protection of the bankruptcy court.
You can discharge many “leftover” unsecured debts at the end of your repayment plan.