Chapter 13 Bankruptcy

Oakland Chapter 13 Bankruptcy Attorney

When A Chapter 13 May Be Right For You

Melanie Tavare has years of experience as a chapter 13 bankruptcy lawyer in the Oakland/San Francisco Bay Area and has handled countless numbers of complicated bankruptcy cases. As an expert in the bankruptcy code, she knows what it takes to get your chapter 13 plan confirmed. As your legal advocate, our offices will work tirelessly to get you an affordable chapter 13 payment plan that allows you to receive the fresh financial start you need.  Don’t risk your assets with an inexperienced lawyer contact us today to see how we can help.

What Is A Chapter 13 Bankruptcy?

A chapter 13 bankruptcy is a reorganization of your debt. It requires you to make monthly payments to creditors through a plan for a period of three to five years.

Reasons To File Chapter 13

There are many reasons why a person considering bankruptcy may choose to file a chapter 13 bankruptcy. In a chapter 13 case, the contracts between you and your secured creditors may be modified in some cases. An example of this is if you have fallen behind on your mortgage payment. By filing a chapter 13 bankruptcy, you can repay your mortgage arrears through your plan over a period of three to five years. This cannot be done in a chapter 7 bankruptcy case. Other types of debt that you can repay in a Chapter 13 include:

  • Property tax arrears
  • Non-dischargeable income taxes
  • Vehicle loan arrears

Often times, because the repayment plan can be stretched out for three to five years, the payment made to your creditors may be much lower than it otherwise would be outside of bankruptcy.

Stripping Off Your Second Mortgage:

In certain cases you may be able to “strip off” a second mortgage on your real estate property and have that debt be discharged at the end of your chapter 13 bankruptcy. This ability to strip off a second mortgage can give you the financial relief you need in order to save your home.

Reduce your Car Loan Amount and Mortgages on Rental Property:

Some of the other benefits of filing a chapter 13 bankruptcy that may be available are the possibility of reducing the balance you owe on a vehicle loan and reducing the mortgage on your rental properties.

Reduce your Tax Debt:

You may be allowed to reduce or even eliminate the penalties and interest charged by the IRS and Franchise Tax Board on taxes owed to these agencies. Chapter 13 is a powerful tool you can use to deal with the government to stop and prevent bank levies and wage garnishments.

Protect your Assets:

Another reason to file chapter 13 is to protect and keep the assets you own that may otherwise be liquidated in a chapter 7 bankruptcy.

Contact us Today

Our offices has extensive experience filing chapter 13 bankruptcies and is committed to obtaining a  repayment plan that is affordable and realistic for you. If you are struggling every day to make ends meet, get the tools you need to overcome that struggle. Call the Law Offices of Melanie Tavare today for a free consultation.

The Law Offices of Melanie Tavare is a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.