Chapter 13 Bankruptcy

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At the Law Offices of Zhou & Chini, our California bankruptcy attorney team is highly qualified in all bankruptcy matters and well versed in the United States Bankruptcy Code. If you are considering bankruptcy, you need a bankruptcy law firm you can trust, one that will competently guide you through the bankruptcy process.

Chapter 13 bankruptcy, sometimes known as a “Wage Earner Plan,” is a way for consumers/debtors to undergo a financial reorganization which is supervised by the bankruptcy court. While Chapter 7 offers an immediate relief to secured and unsecured debt, Chapter 13 is more of a rehabilitation program.

Under Chapter 13 bankruptcy, the consumer will be able to hold on to all of their property if they can repay their creditors over a three to five year period. The California bankruptcy attorney team at the Law Offices of Zhou & Chini, can walk you through Chapter 13 bankruptcy effectively and efficiently.

How Does Chapter 13 Happen?

There are countless ways in which a person can find themselves in such harsh debt problems that they seek out Chapter 13 bankruptcy. Illness, loss of work, divorce, bad luck, poor planning and other unforeseen circumstances can all contribute to the kinds of debt problems that Chapter 13 bankruptcy is designed to help fix.

Credit Card Debt

Throughout California, and the United States, people are overwhelmed from the affects of credit card debt. Massive credit card debt is one of the major causes of Chapter 13 bankruptcy, because people use credit cards when things get tight financially and can’t pay them back. Credit Card companies spend billions of dollars in marketing to get you to use their cards as often as possible, causing you to live beyond your means. What you need to help you through your financial challenges is a bankruptcy law firm that can help you through this situation, understand your circumstances and help get you out of it.

Chapter 13 bankruptcy is designed to enable each debtor, under court protection and supervision, to apply a portion of future earnings to the payment of some or all of their debts over a period of time. The consumer/debtor is protected from creditors through the automatic stay while the plan of repayment is calculated and carried out. It is sometimes also called “Consumer Debt Adjustment,” and is akin to Chapter 11.

Law Offices of Zhou & Chini, works tirelessly to help each and every client we work with. Our California bankruptcy attorney team is well respected in the legal community, and our successful track record of helping people through Chapter 13 bankruptcy is unparalleled.

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