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Weintraub & Selth, APC

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Weintraub & Selth, APC
Experience True Debt Relief
310-584-7702

In response to COVID-19, we are offering our clients consultations via telephone or through video conferencing. Please call our office to discuss your options.

Debt Relief Through Chapter 13 Bankruptcy
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Debt Relief Through Chapter 13 Bankruptcy

Debt Reorganization And Debt Relief

If you are seeking debt relief through bankruptcy, you may have questions about which chapter is right for you. If you have assets that you do not want to liquidate to pay off your creditors, Chapter 13 may be the more attractive choice since it is more flexible than Chapter 7. Debt relief through Chapter 13 is achieved through debt reorganization and repayment, while Chapter 7 involves liquidating assets to repay creditors. Because your financial situation is unique, however, you should speak with a bankruptcy lawyer before making a decision about which chapter to file.

The attorneys at Weintraub & Selth, APC, have counseled and represented hundreds of clients with financial problems throughout California. We have the knowledge and experience to help you determine whether debt relief through Chapter 13 will provide the best solution for you. If Chapter 7 or 11 would be better, we will explain the differences. Additionally, we will also explore bankruptcy alternatives with you. We may determine that debt relief can be achieved in some other way. To arrange an appointment, please contact us online or call us at , our Los Angeles office.

Debt Reorganization And Reduction

Chapter 13 bankruptcy is generally available for people whose income is above the median income in California for a household of their size or who wish to keep assets they might lose in Chapter 7. To qualify for Chapter 13, you must have a regular source of income, and you must make payments on your debts. If you qualify, the benefits you will have access to include:

  • If you are behind on your mortgage, Chapter 13 can prevent foreclosure
  • Chapter 13 allows you time to become current on your past-due mortgage payments
  • Your debts will be reorganized and, typically, become significantly reduced
  • You will enter into a reasonable repayment plan lasting from three to five years
  • After you complete the repayment plan, you will receive a discharge of all eligible debt
  • Lien stripping may be available which will allow you to eliminate certain mortgages

As with all forms of bankruptcy, Chapter 13 debt relief also comes in the form of an automatic stay. This immediately puts an end to creditor harassment, wage garnishment and other collection activities. For more details about debt relief and Chapter 13, contact Weintraub & Selth, APC, for the guidance you need.