Chapter 13 Bankruptcy in San Jose
San Jose Chapter 13 Bankruptcy Lawyer
San Jose Chapter 13 Bankruptcy attorneys at the bankruptcy law office of Geoffrey C. Nwosu located in San Jose Bay Area California will answer your bankruptcy questions for free. Chapter 13 bankruptcy, often called “debt consolidation” or “reorganization bankruptcy”, is different from Chapter 7 bankruptcy. While chapter 7 or liquidation bankruptcy will wipe out most unsecured debts, chapter 13 or reorganization bankruptcy involves a payment plan or proposal by the debtor to the trustee showing how he or she plans to make payment to the creditors. In a Chapter 13 bankruptcy, you don’t have to give up your property, but you must use your income to pay some or all of what you owe to your creditors over time usually three to five years. Chapter 13 bankruptcy is sometimes called a wage earner’s plan. It enables individuals with regular income to develop a proposal to repay all or part of their debts to creditors. At the bankruptcy law center of Geoffrey Nwosu, Our attorney will work with the bankruptcy trustee and bankruptcy judge to make sure that the payment plan approved will be affordable by you and your family. The purpose of chapter 13 is not to make your financial position worse but instead to improve it. They are limitations to the amount of debt that will qualify for Chapter 13 bankruptcy. At the time of writing this article, unsecured debts must be less than $336,900, and Secured debts must be less than $1,010,650.
Eligibility to file Chapter 13 is determined by the debtor’s ability to finance the repayment plan. Consult Nwosu Bankruptcy lawyers in San Jose, Santa Clara County.
A Bankruptcy lawyer will consult with you at the bankruptcy law center of Geoffrey C. Nwosu in San Jose California to determine whether you are qualified to file chapter 13 bankruptcies. In order to qualify for Chapter 13 bankruptcy, your income must not be less than a certain minimum to ensure that you can pay your debts. Sources of income to fund a chapter 13 plan can include, any wages earned through employment, any income earned through self-employment, Social Security benefits, alimony or child support, unemployment or disability benefits, royalties, rents, pension payments and proceeds from the sale of businesses or properties. Our San Jose Santa County bankruptcy attorneys will evaluate your financial situation, review your income documentation and recommend solutions that will reduce your financial problems and hardship.
Looking for a free Bankruptcy help with a San Jose Bankruptcy Attorney and California bay Area Bankruptcy Lawyer?
We are San Jose bankruptcy lawyers and California debt relief attorneys located in south bay area Northern California. We provide chapter 7 and chapter 13 bankruptcy services to California clients who are facing difficult financial hardship. Decision on filing personal bankruptcy is not an easy one. We can provide you with some answers that might help you in making that decision.
Credit Counseling Course Requirement – Nwosu bankruptcy Lawyers will provide guidelines on Credit Counseling
At Nwosu bankruptcy law center, a bankruptcy lawyer will explain to you about the required two credit counseling courses that the bankruptcy court wants you to take and list of where you can take it. As with a Chapter 7 bankruptcy, a person who wishes to file a Chapter 13 bankruptcy petition must first take a credit counseling course. Upon completion of this course, the debtor must present their certification of completion to the bankruptcy court, along with the many forms they will be required to fill out, their tax returns and a detailed repayment plan. In San Jose Bankruptcy Division, you are allowed to submit your tax returns after filing bankruptcy petition but before meeting of creditors.
Automatic Stay & Bankruptcy – Santa Clara County Bankruptcy Lawyer helping Debtors file Bankruptcy
Contacting a bankruptcy lawyer at our law office will help determine whether you are qualified to file chapter 13 bankruptcy or chapter 7 filing. Filing of the bankruptcy petition under chapter 13 “automatically stays” most collection actions against the debtor, or the debtor’s property, while a repayment plan is worked out under the supervision of the courts. Automatic stay also applies to chapter 7 bankruptcy filing and debt relief. Automatic Stay also stops the creditors continuing and maintaining any valid lawsuits, creditor’s liens, make wage garnishments, or even telephone calls requesting payment of their debts. Please contact the Bankruptcy & Debt Relief Law Office of Geoffrey Nwosu located in Silicon Valley, Bay Area at 408-912-5983 or www.nwosulaw.com for a confidential free consultation
Free Consultation with Experienced Bankruptcy Attorney in San Jose – Nwosu Bankruptcy Lawyer
Nwosu bankruptcy attorneys in San Jose Bay Area will consult with you for free. If you are having financial difficulty, lost your job or have high medical bills and want to start fresh, you need to hire an experienced bay area bankruptcy attorney and lawyer at the bankruptcy and debt relief law office of Geoffrey Nwosu representing clients in San Jose Santa Clara County, Alameda County, San Mateo County and San Francisco Bay Area. Our law office bankruptcy attorneys and lawyers represent clients who are facing foreclosure, creditor harassment, high medical bill, court judgment, repossession, wage and IRS garnishment. You have rights. Please contact the Bankruptcy and Debt Relief Law Office of Bk attorney Geoffrey Nwosu located in Silicon Valley, Bay Area at 408-912-5983 for a confidential free consultation.