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Ventura Chapter 13 Bankruptcy Attorneys

Serving Ventura, Santa Barbara, and Westlake Village

Chapter 13 bankruptcy is an effective option for wage-earners who face mountains of crippling, unsecured debt. In general, Chapter 13 is more expensive than Chapter 7 and takes more time to reach the ultimate goal of discharge and debt relief. However, it is a great option for people who have regular income that exceeds the US Trustee median family income limits or results in monthly disposable income. Chapter 13 provides you with a time buffer on repayment of past-due debts and stops the accrual of interest and late fees. You will develop a plan to repay all or part of your debt over a specified time period, with no interest, and the remaining debt will be discharged. If you owe more than you can pay or are struggling with interest and principal payments for medical bills, credit card debt, or other unsecured debt, call the dedicated bankruptcy attorneys at Rounds & Sutter LLP to find out if Chapter 13 bankruptcy may work for you.

Helping Individual Debtors Find Relief Through Chapter 13 Bankruptcy

Rounds & Sutter combines business experience and legal expertise to provide you with the advice and representation you need to get out of consumer debt. Our Southern California debt relief attorneys will work with you to evaluate your outstanding debt and other financial circumstances in order to determine your best step forward. If filing for Chapter 13 bankruptcy is the right option for you, we will help you gather all of the necessary materials, put together the proper filings, and represent you throughout the bankruptcy court proceedings. Your debt does not have to hold you back from living your life.

How does a Chapter 13 bankruptcy work?

A Chapter 13 bankruptcy allows debtors with regular income to reorganize their finances. It is, in essence, a way to buy additional time to repay debts. Under a Chapter 13 bankruptcy, you work with your creditors and a bankruptcy trustee to consolidate your debt and create a payment plan. The payment plan will typically last three to five years. At the end of the repayment period, any remaining unsecured debts will be discharged. The majority of Chapter 13 debtors end up paying significantly less than the total they owed prior to bankruptcy, making Chapter 13 a very attractive option for many debtors to get out of crippling debt.

You can use a Chapter 13 bankruptcy to avoid foreclosure on your home, to pay owed back taxes, to stop interest from accruing on certain types of debt including California local, state, and federal taxes, and to keep valuable property. Ultimately, the amount that the debtor will repay in accordance with the plan will be determined by a variety of factors, including the debtor’s disposable income.

Eligibility for Chapter 13

Each bankruptcy chapter has certain criteria that must be met in order to file. If you think Chapter 13 bankruptcy might be the solution for you, the debt relief attorneys at Rounds & Sutter will evaluate your finances, debt, and income to determine whether you fit the profile of a proper Chapter 13 debtor.

Under Chapter 13, your eligibility depends on a variety of factors, including the amount of debt that you owe and your regular income. You must not exceed a certain threshold of secured and unsecured debt, and you may only discharge a certain amount of debt in a Chapter 13 proceeding. Additionally, to qualify for Chapter 13, you must be earning sufficient income to ensure that you can repay a portion of your outstanding debt in accordance with a plan over the next three to five years. Speak with a bankruptcy attorney at Rounds & Sutter to discuss your eligibility for Chapter 13 bankruptcy.

Build a Repayment Plan that Works for You

At Rounds & Sutter, our Chapter 13 bankruptcy attorneys know the pros and cons of the different bankruptcy chapters. We take the time to understand your unique situation and advise you on the best option to meet your particular goals. To determine if we can help you with a Chapter 13 bankruptcy or other forms of debt relief, reach out to the dedicated bankruptcy lawyers at Rounds & Sutter. Contact our offices in Santa Barbara, Ventura, Westlake Village, or San Clemente for a free consultation.