Sacramento Bankruptcy Lawyer

Roseville Chapter 13 Bankruptcy Lawyer, Fairfield Chapter 13 Attorney

Chapter 13 Bankruptcy - Personal Reorganization and Repayment Plans
Chapter 13 bankruptcy is often referred to as the "individual debt adjustment" chapter, also referred to as reorganization which involves a repayment plan. A Chapter 13 bankruptcy permits you to repay debts if you feel you would benefit from repayment.

In a Chapter 13 bankruptcy, the debtor is essentially saying to his or her creditors that his or her household generates a certain sum, such as $4,000 per month, that it spends a certain sum, say $3,700 per month, on its normal going forward obligations such as rent or mortgage, car payments, utilities, food and groceries, insurance, medical, transportation, and, accordingly, has net funds of say $300 left over at the end of each month to offer to repay to the pre-bankruptcy creditors, all of whom are put on the proverbial back burner when the bankruptcy petition is first filed

Each Chapter 13 debtor proposes a repayment plan which must be approved by the court. The amounts set forth in the plan must be paid to the Chapter 13 trustee who distributes the funds for a percentage fee. Many debts that cannot be discharged can still be paid over time in a Chapter 13 plan. After completion of payments under the plan, chapter 13 debtors receive a discharge of most debts.

Are you overwhelmed by debt and just need some breathing room? At the Sacramento Bankruptcy law offices of Brooks & Carpenter, we help people with Chapter 13 Bankruptcy filings that restructure your debt to make it manageable. Find out how we can help during your initial consultation. Contact us today. Call (916) 927-4989.

If you are in need of expert legal counsel, contact the Sacramento bankruptcy lawyers at Brooks & Carpenter. We proudly serve Sacramento area and entire Northern California.

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If you are in need of expert legal counsel, contact the bankruptcy lawyers at Brooks & Carpenter. We proudly serve Northern California.

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