Chapter 13

California Debt Repayment Plan Attorney

Los Angeles Chapter 13 Bankruptcy Attorneys – Protect Your Assets

Chapter 13 Bankruptcy (Adjustment of Debts of an Individual with Regular Income) allows individuals to undergo a financial reorganization which is supervised by a federal bankruptcy court. Under Chapter 13 Bankruptcy, also known as "reorganization" or "consolidation,” the debtor proposes a plan to pay his/her creditors over a three to five year period. Once a reorganization plan is approved by the court, a Chapter 13 Bankruptcy allows debtors to pay off and discharge debts for a fraction of the amount that is owed, while being able to save their home from foreclosure or default under the loan agreements. A Chapter 13 homeowner can pay off all delinquent mortgage payments or deficiencies through a three or five-year plan of reorganization. Most homeowners need the benefits of a successful five year plan, and KLC helps to ensure the confirmation of successful plan together with minimizing the percentage paid on unsecured debt, concluding with a successful discharge. This includes discharge of credit card debt, unpaid taxes, and missed mortgage payments all of which may be paid back at a much lower or reduced amount. Thus, a Chapter 13 Bankruptcy allows individuals to protect their house from foreclosure and to reduce debts by paying off their debt obligation at a discounted amount and over an extended period of time.

Chapter 13 Bankruptcy is the best option when a debtor is a wage earner or has other “regular” income, has assets or equity in his/her home, and does not want to lose those assets in a Chapter 7 Bankruptcy petition. A Chapter 13 Bankruptcy differs from a Chapter 11 Bankruptcy because the reorganization of the business must be court approved.

In effect, an individual in a Chapter 13 Bankruptcy is allowed to keep their property and their creditors end up with less money than they were originally owed. KLC has successfully devised zero or one percent plans in applicable cases.

Chapter 13 Bankruptcy Solutions – Affordable Fees

Bankruptcy is a complex legal procedure. At Khansari Law, our attorneys and staff have years of experience working with every aspect of bankruptcy.

To discuss your immediate legal needs and future financial goals with the experienced attorneys and staff at Khansari Law, please do not hesitate to call our offices at 818.650.6444. You may also e-mail us now at to answer any of your questions or to request a consultation to discuss your bankruptcy or alternative to bankruptcy options.