Chapter 13 Bankruptcy Attorney: Who Can Use Chapter 13 Bankruptcy?

bankruptcy document

If you have overwhelming debt and you think that you qualify to use Chapter 13 bankruptcy, you should first talk to an attorney. Our Chapter 13 bankruptcy attorney is known in Los Angeles as a committed lawyer who only wants her clients to be free from the shackles of their debts. Sadly, though, not all debtors are qualified to file for chapter 13 bankruptcy. To meet its qualifications, you need to be an individual. Businesses, stockbrokers and commodity brokers cannot file bankruptcy under Chapter 13. Even if their debts are personal, they are not qualified to file. 

Hire a Chapter 13 Bankruptcy Attorney to Assess Whether You Qualify or Not

Individuals can file for chapter 13 bankruptcy. However, you must demonstrate that you can pay your debts. In this case, you must show your sources of income. They could be your unemployment compensation, SS payments, and pension income, among others. You may also declare royalties and profits from a property sale. Furthermore, you must submit proof that you have filed state and federal tax returns. If you cannot exhibit evidence, though, your case will be delayed until you can produce reports to prove that you are current on your tax filings. 

Before you file, though, you should talk to an attorney who specializes in this case. Our attorney will give you credit counseling. She can review your finances and find solutions to settle your debt without resorting to bankruptcy. You may also talk to a debt manager. Debt management plans can take up to five years to settle. Other options would be debt consolidation and debt settlement. But each of these solutions has its own pros and cons. And our attorney will discuss all of them so you can make the right decision. Our bankruptcy attorney does not always recommend debt settlement. But there are instances that our lawyer may suggest it. However, in most cases, she will find other ways to resolve your debt problems and debt settlement is usually the last resort. 

At Karine Karadjian law office, our bankruptcy attorney will first analyze your situation and assess all options available based on your situation. As mentioned earlier, we do not recommend filing immediately. We analyze completely your situation to find those holes in your finances. From there, we can create a plan. Now, if your creditors are suing you for unpaid debts, our law office is here to defend your case. When you face overwhelming debt, it is ideal that you have someone to guide you to find a solution. 

At Karine Karadjian law office, we believe that anyone can get out of debt no matter how overwhelming it is as long as they start handling their finances properly. The good thing these days is that there are free apps that can help you manage your budget and finances. You can download a free app that will assist you in monitoring your money and finding out where it is going. However, if you are struggling to pay your debt now, talk to our chapter 13 bankruptcy attorney. She can help you either file or look for other solutions to fix your debt problems. Contact us today for consultation: (818) 918-9660

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