Bankruptcy Attorney in Sacramento CA | Sacramento CA Bankruptcy

Chapter 13 Bankruptcy

Sacramento CA Bankruptcy Lawyer

Chapter 13 is also known as a "wage earner's plan" bankruptcy. Chapter 13 is designed primarily for debtors who have a regular income and need help reorganizing debts. This chapter is also very helpful for debtors who have significant non-exempt assets.

In a Chapter 13 bankruptcy, the debtor's assets are not liquidated to pay creditors. Rather, a Chapter 13 debtor proposes a three (3) to five (5) year plan to pay creditors. If a debtor has a mortgage payment or a car payment he or she is behind on, Chapter 13 allows the debtor to come current on the debt without losing the property. At the end of the three to five years, if the debtor has maintained the monthly payments, most remaining unsecured debt is discharged.

Chapter 13 bankruptcy is a complicated process and one that should be handled by an experienced Bankruptcy Attorney in Sacramento CA.

If you are having financial hardship and are considering filling for bankruptcy in the Sacramento area, please call a Sacramento CA Bankruptcy Lawyer toll free at 1-888-446-4333 for a FREE confidential Bankruptcy consultation.

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Allaye Chan Law
A Professional Corporation
1000 G Street, Suite 220
Sacramento, CA 95814