PERSONAL BANKRUPTCIES --- HELP WITH COVID-19 DEBTS --- TIME FOR A FRESH START

Law Office of David L. Hagan

Law Office of David L. Hagan Law Office of David L. Hagan Law Office of David L. Hagan

Law Office of David L. Hagan

Law Office of David L. Hagan Law Office of David L. Hagan Law Office of David L. Hagan
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    • Home
    • Q&A
    • letters & comments
    • CHAPTER 7 vs. 13
    • DO IT YOURSELF
    • RESOURCES
    • CONTACT US
  • Home
  • Q&A
  • letters & comments
  • CHAPTER 7 vs. 13
  • DO IT YOURSELF
  • RESOURCES
  • CONTACT US

CHAPTER 7 or Chapter 13

Chapter 7 - A Path Forward

Chapter 13 - Restructure Debt

Chapter 13 - Restructure Debt

 

- Frees you from all unsecured debts such as credit cards, medical debts, utilities, phones, etc.


- If you have a house with a mortgage, or a car with a loan, you can usually  keep making payments on these debts and keep your property and possessions within reasonable limits.


- Usually, you cannot discharge state and federal taxes. You  should consult a tax attorney regarding those issues.


- Also, if you owe restitution or a fine to a court or governmental agency, those debts are not dischargeable. 


- We can discuss  your options at your initial consultation. 


- Keep in mind, bankruptcy law is structured to help you start over  with a clean slate.

Chapter 13 - Restructure Debt

Chapter 13 - Restructure Debt

Chapter 13 - Restructure Debt

 

 - Option for wage earners with a steady income to restructure debt so payments are more manageable.


UPSIDES


- May erase or delay part of your debt obligations


- May stop foreclosure on a home


- Spread affordable payments over a longer period of time.


DOWNSIDES


- May prolong the inevitable


- Must make monthly payments to a trustee for 3-5 years


- May have to pay back a portion of general unsecured debts

Contact David L. Hagan

1303 East Grand Avenue, Suite 135

Arroyo Grande, CA 93420

(805) 474-4000

lawprofessional@aol.com

FREE CONSULTATION

 

This website is for informational purposes only. Using this site, or communicating with Bankruptcy Relief Attorney through this site, does not form an attorney/client relationship.  I am a bankruptcy attorney. I also operate as a debt relief agency. 
I help people file for bankruptcy relief under the U.S. Bankruptcy Code.  
(Dates on "Letters" are the dates I posted them, not the dates they were written.)
Copyright © 2022 David L. Hagan.  All Rights Reserved.
  • Home
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  • CHAPTER 7 vs. 13
  • DO IT YOURSELF
  • RESOURCES
  • CONTACT US