Chapter 13 Bankruptcy. Stockton, CA

Bankruptcy: Chapter 13 – Bankruptcy Attorney Stockton

The most common misconception regarding Chapter 13 is that it is a “repayment plan”. In reality, your Chapter 13 plan payment has little to do with the amount of debt your owe. Rather, it has to do with the amount of disposable income that you have at the end of each month. Many clients that owe $50,000 in credit card debt are pleasantly surprised to find our that their chapter 13 plan payment is only $175 per month. Consult with a Stockton bankruptcy lawyer at Law Office of Robert W. Fong today.

Some people have to do a Chapter 13 instead of a Chapter 7 either because they make too much money or because they have an asset that they would lose in a Chapter 7.

Some people, however, choose to do a Chapter 13 because of the unique benefits that this type of filing provides the client. A Chapter 13 allows one to save their house from foreclosure by bringing their first mortgage current, and in many situation, completely eliminating their second mortgage. A Chapter 13 bankruptcy also allows you to repay IRS debt interest and penalty free, and to reduce your car loan (although now this actually can even be accomplished in a chapter7).

So, while a Chapter 7 is generally preferred in most situation, a Chapter 13 can in some situations be the best method to solve your financial problems. Call us to speak with an experienced Stockton bankruptcy lawyer about your particular situation.

If you are having financial hardship, contact experienced bankruptcy lawyers at our law firm by calling (209) 475-0499. We offer FREE confidential bankruptcy consultation.

Law Office of Robert W. Fong
1151 W Robinhood Dr C8
Stockton, CA 95207 US
Phone: (209) 475-0499

Click here to fill out our FREE Confidential Bankruptcy Case Consultation form.

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