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Are You Considering Chapter 13 Bankruptcy? Contact Us Today for the Respect and Dignity You Deserve Through This Legal Process

Chapter 13 Bankruptcy Lawyer in Cerritos

Bankruptcy Representation for Consumers in Cerritos, CA

Individuals who owe unsecured debts less than $383,175.00 and secured debts of less than $1,149,525.00 may qualify to file bankruptcy under Chapter 13. In most Chapter 13 proceedings, the primary issue is not whether the debtor qualifies, but rather how his or her monthly Chapter 13 plan payment should be structured.

In order to learn more about qualifications and to see if you may be eligible for this particular chapter, do not hesitate to contact a Cerritos bankruptcy lawyer from the Law Office of Raymond J. Seo right away.

Understanding Reorganization of Debts

Under current law, a Chapter 13 bankruptcy, also known as reorganization bankruptcy, allows the debtor to reorganize and pay back debt over a 3 to 5 year period.

Filing for Chapter 13 bankruptcy eliminates the interest on unsecured debt and reorganizes the following debts:

  • Late mortgage payments
  • Tax debt
  • Back child support
  • Late car payments
  • Miscellaneous secured debt.

Based on financial circumstances, some debtors are not required to pay any money toward their unsecured debt and can reduce their secured loans to the fair-market value of the security at the time of filing.

The best benefit of Chapter 13 bankruptcy is that it combines all payments to creditors into one affordable plan. As such, many compare Chapter 13 to debt consolidation; however, unlike debt-consolidation programs offered by private companies, unsecured creditors must accept the terms of your reorganization plan. Chapter 13, like all bankruptcies, also provides immediate relief from creditor harassment, foreclosures, repossessions, wage garnishments, levies, lawsuits, and other concerns, which are not granted in a typical debt consolidation.

Contact the Law Office of Raymond J. Seo today!

Are you interested in learning whether you are eligible for Chapter 13 bankruptcy? If so, we encourage you to work with our firm as soon as possible. Our team stands ready to ensure that you receive the best possible representation for your case. We want to help you establish financial security and feel confident in our ability to fully represent you.

When you retain our services, we will immediately review your situation and establish an effective plan of action for your case. What are you waiting for? Working with a Cerritos Chapter 13 bankruptcy lawyer can provide you with a sound resolution.

Contact the firm today by filling out our online contact form. Once you do, we will be in touch shortly to discuss your situation.

Why Hire the Law Offices of Raymond J. Seo

  • We See Our Clients
    as People First

    We treat each client with respect and dignity and ensure the highest quality of professionalism for each individual. We see our clients as people first, not paychecks.

  • Lower Fees

    Our firm also proudly offers significantly lower fees than other large firms and direct access to the attorney working on your case.

  • Personalized Strategies

    We stay abreast of the changing bankruptcy laws and concerns so that we are always prepared because we understand that your case is unique to you.