Chapter 13 Bankruptcy in Santa Cruz CA
Chapter 13 Bankruptcy Santa Cruz CA
If you are considering filing for bankruptcy it can be confusing on what type to file. We will help you determine if filing is the correct type to file. What is Chapter 13 bankruptcy in Santa Cruz CA, are you eligible, and how does repayment work? By the time you are done, you will have a clear understanding of whether Chapter 13 bankruptcy is the right choice for you. Filing for bankruptcy is often confusing.
Chapter 13 Bankruptcy Explained
With Chapter 13 bankruptcy in Santa Cruz CA, you are able to keep your assets. A Chapter 13 bankruptcy filing allows you to repay your debts over time. Allowing you to keep your possessions and property. A Chapter 13 filing doesn’t stay on your credit as long.
Eligibility for Filing Chapter 13 Bankruptcy in Santa Cruz CA
You might not qualify for Chapter 13 bankruptcy in Santa Cruz CA. Chapter 13 can’t be taken by sole proprietorships or corporations. As an individual filing Chapter 13, you must have adequate disposable income to meet the repayment plan set by the terms.
There are also limits set on how much debt you have to be able to file for Chapter 13 bankruptcy. You cannot have more than one million eighty one thousand and four hundred dollars in secured debt and over $360,475 in unsecured debt you are not eligible for filing
Repayment and Chapter 13 Bankruptcy in Santa Cruz CA
A trustee will be appointed to handle your repayments. The trustee will put your creditors in an order of priority for repayment. Secured debts are usually paid first. Last unsecured debt is paid.Distributing repayment is the job of the trustee job. Mortgages may be paid directly to your loan provider.
Filing for Chapter 13 can be confusing. We’ve covered the basics of bankruptcy options, repayment options, and how to know if you qualify. When dealing in an advanced legal problem like bankruptcy filings it is advisable to seek out help from an experienced Chapter 13 bankruptcy attorney in Santa Cruz CA.
Bankruptcy Lawyer Stephen H. Kim is here to aid any queries you might have with the process of registering Chapter 13 bankruptcy. We provide you with qualified representation you can depend on. Do not try and deal with Chapter 13 on your own. Stephen H. Kim is an personal injury attorney you can depend on. We have dealt with a lot of Chapter 13 bankruptcy cases in Santa Cruz CA and will be certain an individual’s interests are safe. Please make sure to contact us right now if you’re considering filing for Chapter 13 bankruptcy in Santa Cruz CA.
I am right here in order to make the whole process of declaring Chapter 13 bankruptcy in Santa Cruz CA as quick and simple and easy as it can be.
Stephen H. Kim, Attorney at Law
10 S Filice St #1, Salinas, CA 93905
831-221-5022