Experienced Bankruptcy Lawyer Assists Clients With Their CH 13 Bankruptcy Filings In Sacramento County, El Dorado County, Placer County, Solano County, Yolo County, and Throughout CA
Chapter 13 bankruptcy is a repayment plan. When you fall behind on installment debts, a Chapter 13 bankruptcy is designed to help you catch up on them. For people who make too much money to file other types of bankruptcies, a Chapter 13 bankruptcy is a viable option. If you fall behind on your house payment, filing for Chapter 13 enables you to catch up on the arrearage, so that at the end of the bankruptcy, you would be current. If you have a second mortgage, or there is a second, third, fourth, fifth mortgage judgment lien, a California chapter 13 bankruptcy attorney at Cianchetta & Associates can strip those off in a Chapter 13 bankruptcy, and discharge those debts. There are Chapter 13 bankruptcies where perhaps you are behind on a car payment for a car that is necessary for your work, and the financing company is going to repossess it. We can use a chapter 13 to catch up on that as well.
What Kind Of Debt Is Typically Dischargeable In Chapter 13 Bankruptcies?
Everything that is dischargeable in a Chapter 7 is also dischargeable in a Chapter 13. A Chapter 13 bankruptcy discharge is actually broader than a Chapter 7 discharge in that it wipes out debts that are not dischargeable in a Chapter 7 discharge. In a Chapter 13, you get what is called the “Super Discharge”, which allows you to discharge non-priority unsecured creditors and certain domestic relations obligations. If you had an equalizing payment in a divorce, for example, that can be discharged in a Chapter 13 bankruptcy. Although Chapter 13 bankruptcy is a repayment plan, many non-priority unsecured creditors need not be paid in full, or even at all in some case. Credit Card debt, medical bills, personal loans, older tax obligations and some divorce debts owed to an ex-spouse are a few extras that get discharged in a Chapter 13 but not a Chapter 7 bankruptcy.
What Are the Main Differences Between a Chapter 7 & a Chapter 13 Bankruptcy?
The biggest difference is the time it lasts, Chapter 7 bankruptcy is complete typically in 4 months, Chapter 13 lasts for 3-5 years. Another difference is that a Chapter 7 is a liquidation bankruptcy that wipes out most of your unsecured debt and the trustee can sell your nonexempt property, whereas a Chapter 13 is a reorganization bankruptcy that enables you to keep your property through a repayment plan. Another main difference is the amount of time and the types of debt that are dischargeable. The Chapter 7 trustees also tend to be more aggressive towards the value of assets, as opposed to the Chapter 13 trustees. Chapter 7 bankruptcy allows qualifying debtors to quickly discharge qualifying debts and get a fresh start. Chapter 13 bankruptcy enables debtors to keep their property and catch up on missed mortgage, car, and priority debts through a repayment plan. Definitely discuss your options with a bankruptcy attorney, as the code is incredibly complicated, and every case is different.
How Long Does It Generally Take To Go Through The Bankruptcy Process?
A Chapter 7 typically takes less than 120 days if it is a no asset case. If it is an asset case, you are going to get your discharge in that same amount of time, as long as there are no objections to your discharge. However, your case may stay open for up to a year-and-a-half, which can have some adverse effects on moving on with your life. A Chapter 13, on the other hand, typically takes three to five years to complete. After completing the plan payments, the Chapter 13 can take months to close.
Contact A Qualified California Chapter 13 Bankruptcy Attorney Today
For more information on Chapter 13 Bankruptcy in California, an initial consultation with a qualified California chapter 13 bankruptcy attorney is your next best step. Contact us today for the information and legal answers you are seeking by calling (916) 685-7878 or by filling out our convenient online contact form.
★★★★★
Outstanding! I did a thorough search looking for a good, honest attorney that I could trust, looking at many reviews. I found Peter and made an appointment with him. The best decision and best attorney I’ve done business with in my entire life.
- James M.
★★★★★
Mr. Cianchetta is an OUTSTANDING attorney. I was a little nervous about seeing an attorney for my case. Mr. Cianchetta and his staff made my wife and I feel right at ease. He took extra time explaining what to expect before, during and after our process. His advice was right on!
- Jack M.
★★★★★
Great Lawyer in Elk Grove. He helped me with a bankruptcy a few years ago and is still very helpful in answering any questions I have about it. I have also spoken with him regarding family law and estate issues. He’s very patient and is willing to take the time needed to explain everything to me so I can understand it. He’s also very quick to respond. I have already recommended him to many of my friends and family.
- Kathleen
★★★★★
During a rough time in my life, Peter was there to comfort me and make sure everything will turn out ok. Peter took great care of all my needs and handled every matter with professional care. I would highly recommend Peter because he CARES. You're not a turn-and-burn case. Peter has followed up with me to make sure things are going smoothly and on the right track. If you want a fresh start with an honest, upfront, caring team… Peter Cianchetta should be and will be your only call. Thanks Peter for all your help getting me a fresh start.
- Dante M.
★★★★★
Peter Cianchetta is the best attorney in town! He assisted me all the way through my bankruptcy. He never let me feel as if I was bothering him with my hundred questions. He was very informative and made me feel very comfortable throughout my whole case. I would definitely recommend him to anyone who is in need of a good lawyer that knows what he’s doing and gets the job done!
- Angela
★★★★★
Outstanding! I did a thorough search looking for a good, honest attorney that I could trust, looking at many reviews. I found Peter and made an appointment with him. The best decision and best attorney I’ve done business with in my entire life.
- James M.
★★★★★
Mr. Cianchetta is an OUTSTANDING attorney. I was a little nervous about seeing an attorney for my case. Mr. Cianchetta and his staff made my wife and I feel right at ease. He took extra time explaining what to expect before, during and after our process. His advice was right on!
- Jack M.
★★★★★
Great Lawyer in Elk Grove. He helped me with a bankruptcy a few years ago and is still very helpful in answering any questions I have about it. I have also spoken with him regarding family law and estate issues. He’s very patient and is willing to take the time needed to explain everything to me so I can understand it. He’s also very quick to respond. I have already recommended him to many of my friends and family.
- Kathleen
★★★★★
During a rough time in my life, Peter was there to comfort me and make sure everything will turn out ok. Peter took great care of all my needs and handled every matter with professional care. I would highly recommend Peter because he CARES. You're not a turn-and-burn case. Peter has followed up with me to make sure things are going smoothly and on the right track. If you want a fresh start with an honest, upfront, caring team… Peter Cianchetta should be and will be your only call. Thanks Peter for all your help getting me a fresh start.
- Dante M.
★★★★★
Peter Cianchetta is the best attorney in town! He assisted me all the way through my bankruptcy. He never let me feel as if I was bothering him with my hundred questions. He was very informative and made me feel very comfortable throughout my whole case. I would definitely recommend him to anyone who is in need of a good lawyer that knows what he’s doing and gets the job done!
- Angela
★★★★★
Outstanding! I did a thorough search looking for a good, honest attorney that I could trust, looking at many reviews. I found Peter and made an appointment with him. The best decision and best attorney I’ve done business with in my entire life.