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Receive Guidance from a Reputable Legal Team For Chapter 13 Bankruptcy

Want to File for Chapter 13 Bankruptcy?

Talk with an Irvine Chapter 13 attorney! Call: (949) 390-9994

Have you considered filing for Chapter 13 bankruptcy? Are you unsure if it is the right option for you? While bankruptcy can be a great financial tool, it is crucial that you have an experienced legal professional guide you through the process. You need an Irvine Chapter 13 bankruptcy lawyer who knows how to provide counsel for your financial situation.

Contact Attorney Peter Rasla today for seasoned and qualified legal guidance!

Peter Rasla & Associates, P.L.C. is committed to providing exceptional services paired with legal knowledgeable. Their firm understands the ins and outs of bankruptcy law and can give you insight into filing Chapter 13.

Why work with a proven attorney?

Bankruptcy can be a complex process, even if your financial situation seems straightforward. Having a proven legal advocate by your side can bring peace of mind and assurance.

When you work with Attorney Peter, you get the following:

  • Years of legal experience
  • Personalized support and counsel
  • Guidance for credit rebuilding
  • Tips on avoiding falling back into debt

His firm truly puts clients first and goes the extra mile to ensure that bankruptcy is effective for their case.

Benefits of Chapter 13 Bankruptcy

Bankruptcy is a unique financial tool that provides debt relief to those facing financial troubles. There are multiple options when it comes to bankruptcy, but Chapter 13 has long been one of the most effective and popular. It is often referred to as reorganization bankruptcy, as it allows a consumer to restructure their finances and debts and pay off creditors over time.

Some of the benefits of filing Chapter 13 include:

  • Put a stop to creditor action
  • No selling off personal assets to repay creditors
  • Gradually get rid of debt over time
  • Discharge debts, such as medical and credit card bills, that are remaining
  • Typically, you can keep your home

In order to be able to file for Chapter 13, you will need to have enough income to pay back creditors over time. Without sufficient income, you will likely not be able to keep up with a new payment plan. If you are in this situation, Chapter 13 bankruptcy may be a more viable option.

What is the Process of Filing Chapter 13 Bankruptcy?

The following are the steps and what to expect when filing for Chapter 13 bankruptcy:

  1. You must finish a credit counseling with an approved agency within 180 days of filing
  2. An attorney can help you prepare the necessary paperwork, which includes:
  3. A list of creditors and amounts of debt for each
  • Evidence of income (pay stubs, W2)
  • An account of property and valuables
  • Tax return from the past year
  • Detailed account of your living expenses
  • Certificate of achievement for the credit counseling course
  1. File a bankruptcy petition with your local bankruptcy court.
  2. Submit a repayment plan that includes methods that the debt from each lender will be paid within 14 days of filing the petition.
  3. Prior to approval, you will have to begin following the steps of the repayment plan 30 days after filing.
  4. The court will assign a trustee who will set up a meeting with creditors 21-50 days after you have filed. You will answer questions about your debt and repayment plan under oath.
  5. A mandatory confirmation hearing will be held within 45 days preceding the creditor meeting. Your plan will be accepted or denied by the Judge. You may refile for Chapter 7 bankruptcy if your plan was denied.
  6. Over the next 3 to 5 years you must follow the repayment plan.The trustee will collect and distribute payments during the duration of your payments.
  7. You will be released from bankruptcy once you have finished paying your debt as outlined in the repayment plan and you’ve taken a debtor education course from an approved agency.

Peter Rasla & Associates are here to help you through the process and make sure your repayment plan has the best possible chance of being accepted. Give us a call today for a consultation!

How Long Does it Take to File Chapter 13 Bankruptcy?

The Chapter 13 filing process usually takes 95 days starting from the filing of the petition and ending with approval of the repayment plan. But the bankruptcy won’t actually be discharged until you have finished the three- to five-year plan.

Schedule a Free Consultation: (949) 390-9994

If you have been struggling with overwhelming debt and harassing creditors, you are in need of some relief. A trusted legal representative from the firm can help you preserve your financial interests and can guide you through your options. Let the firm provide the assistance and legal guidance you need to take positive steps towards resolving your financial issues.

Contact Peter Rasla & Associates, P.L.C. to schedule a free consultation.

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