Chapter 13 Bankruptcy

Experienced Chapter 13 Bankruptcy Attorneys

Protect Your Home and Property. Call 805-485-8888 Before It’s Too Late.

No one benefits when payments are missed and homes go into foreclosure. Now, more than ever, Chapter 13 bankruptcy offers legal protections that can protect all parties, including you.

Chapter 13 bankruptcy can be a confusing process. However, many people find the process simple and easy to work through with the help of an experienced attorney. Here is a scenario that illustrates how it works and how it can help distressed consumers. Let’s say:

• You owe more money on your home that it’s worth
• You have a second mortgage
• You have a large amount of credit card debt
• You are behind several months on your mortgage

By filing Chapter 13 bankruptcy you can reduce your payments so that they are manageable while retaining all of your property. This is accomplished by proposing a debt repayment plan. The plan will consolidate the debt into a smaller payment, which typically lasts three to five years. At the conclusion of the plan, all remaining unsecured debt in the plan is discharged. Allowing you to:

Eliminate the second mortgage
Discharge the remaining credit card debt
Negotiation of your late mortgage payments so that you can pay back that amount over a four or five month period without interest

In some cases, debts under a Chapter 13 bankruptcy can be paid of 10 cents on the dollar. We have also succeeded in negotiating a reduction in the principal of clients’ primary mortgage and car payment.

Through Chapter 13, debts are paid, assets are secured, equity is protected and credit ratings and the ability to obtain credit often improve over time. To learn more, contact our firm.

Contact Us

If you have Chapter 13 bankruptcy questions, contact the experienced bankruptcy lawyers of The Law Offices of Richard L. Francis and Associates. We offer free initial consultations, are conveniently located in Heritage Square in downtown Oxnard, and speak Spanish and English. To contact us, call 805-485-8888.