
Chapter 13 Bankruptcy Attorney in Glendale
Discover If Reorganization Bankruptcy is Right for You
Not everyone who files for bankruptcy will want to use Chapter 7 or even be eligible to use it. If you’re in a financial situation where Chapter 7 or liquidation bankruptcy might not work best for you, then we encourage you to explore Chapter 13 – reorganization – bankruptcy with the assistance of the Law Offices of Wax & Wax in Glendale, California. Our attorneys are here to help you get a strong understanding of Chapter 13 bankruptcy and what it can do, so you can confidently decide to utilize this powerful debt resolution method or keep looking for alternatives.
To speak with a member of our law firm today, call (818) 946-0608.
Who Can Use Chapter 13 Bankruptcy?
Individuals – and not businesses – usually use Chapter 13 bankruptcy when they have significant debt but not necessarily overwhelming debt. Reorganization bankruptcy seeks to negotiate with creditors to minimize your debt and rearrange it into a repayment plan that works for everyone. Creditors often like Chapter 13 bankruptcy because getting paid a portion of a debt is better than getting paid none of it if the debtor filed for Chapter 7. On the other hand, you might enjoy Chapter 13 because it usually allows you to keep your property, make headway on mortgages and car payments, and protect your credit score from significant damage.
We might advise you to use Chapter 13 if:
- You can’t pass the Chapter 7 means test but your debts are still large compared to your income.
- You have large amounts of non-dischargeable debts that need to be repaid in one way or another.
- You are looking for a way to close the gap on any overdue car or house payments.
Chapter 13 bankruptcy is sometimes called the wage earner’s plan because it is often used by people with regular income sources. If you think this sounds like something that can work for you, then please contact our firm to see if our Glendale and Santa Clarita Chapter 13 bankruptcy attorneys can be of assistance.
How Does Chapter 13 Bankruptcy Work?
The basic premise of Chapter 13 bankruptcy involves:
- Reorganizing your debts into a repayment plan across the next 3 or 5 years.
- Filing your repayment plan to the court for approval.
- Making an honest effort to repay as much of your debt as you can according to the plan.
- Discharging remaining debts if eligible.
It is important to realize that sticking to the repayment schedule agreed upon during your Chapter 13 bankruptcy filing is crucial. If you fail to make a single payment, then the entire plan can be unraveled and you will have to start over with a new plan, including new filing fees. Our attorneys are dedicated to making certain you are truly prepared for Chapter 13 bankruptcy to ensure you aren’t blindsided later by any complications or setbacks. If there is a better debt resolution method for your financial situation, then we can explore your options with you.
Are You Eligible for Chapter 13 Bankruptcy?
You are eligible for Chapter 13 bankruptcy if your total unsecured debts are less than $419,275 and your total secured debts are less than $1,257,850. Both values are subject to change with updated legislation or regulations.
Unsecured and secured debts are usually:
- Unsecured: Credit card debt, medical bills, utility bills, and most personal loans
- Secured: Mortgages, auto loans, and large loans with collateral
Chapter 13 Could Be Right for You – Call Now
The sooner you explore your bankruptcy options with the help of the Law Offices of Wax & Wax, the sooner you could be out from under overwhelming debt. Our Glendale Chapter 13 bankruptcy lawyers would like to tell you more about Chapter 13, what it does, what it can’t do, and more. Call (818) 946-0608 to connect with our team today.
You can fill out an online contact form if you prefer.
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They always filled me in on the details and explanations of everything I needed to know.- Former Client
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I was dealing with my worker's compensation case on my own and I found it confusing and overbearing at times. I met with Alan Wax from The Law Offices of Wax & Wax and I was instantly put at ease. Mr. Wax has been in this business for a very long time; he knew exactly what doctors I needed to see and how to move forward to negotiate my case against the adjusters. He not only advised me for better offers on my case but he demanded I receive all of my doctor requests from the adjuster. As soon as he took on my case, my stress was lifted and Mr. Wax dealt with all the communication and negotiations. Thank you so much for everything! I would recommend the Law Offices of Wax & Wax to anyone and everyone!- Beverly O.
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I worked with Robert Castillo on my case. He is knowledgeable and patient; Allows time and space for you to ask questions. The office staff is organized and responsive. They send regular correspondence to home and set up a phone appointment if necessary. I enjoyed working with this law firm. Reasonable price, friendly staff, and professional. Highly recommend Robert for your future cases.- Azin G.
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I felt comfortable asking any and all questions.- Alejandro
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They helped me make the right decision.- Jonathan
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After working 4 decades at one grocery chain I became badly injured. Filing a WC claim was easy but after 4 major surgeries, one to remove 3 discs from the lumbar region, 1 disc removed from the cervical region, surgery to repair 3 torn rotator tendons, and have an electronic lumbar stimulator the bureacracy of WC insurance and the mounds of paperwork and approvals required for all tests and procedures would have stressed me out to a point of severe anxiety. Going to speak to Mr. Wax was calming and informative. His representatives who accompanied me to depositions and the courthouse was such a relief. I could not have done this myself. Thank you to the lawyers who helped me, Mireya who was my contact in the office for immediate feedback to my concerns. I highly recommend this firm for dealing with insurance companies and the SS office. Thank you- DV Hig
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I wanted to thank you and your staff for helping me in a very difficult time.- Former Client
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They were always warm and professional.- Maureen