Pinole Bankruptcy Lawyers
Get the debt relief through chapter 7 or chapter 13 bankruptcy you deserved. Schedule a FREE PHONE or FREE OFFICE CONSULTATION to find out how bankruptcy can get rid of your debts, save your house, save your car, get rid of underwater second mortgages or equity lines of credit and more. Our experienced and compassionate Pinole bankruptcy lawyers | attorneys are ready to provide you with the best bankruptcy experience for a reasonable fee.
Meet our attorneys: Ryan C. Wood and Kitty J. Lin
We are committed to providing you with the best bankruptcy experience for a reasonable fee.
Bankruptcy can stop the foreclosure of your home and stop the repossession of your car. As soon as your bankruptcy case is filed the automatic stay takes effect stopping any and all collection actions against you. This includes foreclosure and repossessions. If your mortgage company or finance company still thinks they have a right to foreclose or repossess they must obtain the bankruptcy court’s permission to continue to foreclose on your home or repossess your car. The most common form of bankruptcy to save a house or a car because you are behind on your payments is chapter 13. Chapter 13 will allow you to spread out the missed payments over three to five years to make catching up on the payments affordable. Bankruptcy cannot permanently modify the terms of a first mortgage, but chapter 13 can get rid of a underwater second or equity line of credit. Chapter 13 can also cramdown what you owe on a vehicle to the fair market value of the car, not what you owe. So if your car is worth far less than what you owed, and you purchased the vehicle 910 days before filing the chapter 13, you will only have to pay what the fair market value of the vehicle is at the time of filing the bankruptcy case.
Chapter 13 bankruptcy is far more complex than filing a chapter 7 bankruptcy case. A chapter 13 plan of reorganization must be prepared and filed with the court and confirmed or approved by the court.
By
Ryan
C. Wood