“We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.”


(209) 475-0499


(209) 475-0499

Stockton Chapter 13 Bankruptcy Lawyer

Chapter 13 Bankruptcy

Stockton Chapter 13 Bankruptcy Lawyer

You are not alone, thousands of people are seeking help from the bankruptcy court. Contact Stockton Chapter 13 Bankruptcy Lawyer for free consultation today.

Chapter 13 Bankruptcy requires a repayment

Stockton Chapter 13 Bankruptcy LawyerChapter 13 is a reorganization bankruptcy, which enables you to pay off all or a portion of your debts during a three-five year time span but doesn’t require you to forfeit any of your belongings or assets to pay unsecured debts. Unsecured debts are those that are not secured property, like your car or another valuable asset. The repayment plan must be proposed by you and approved by the court. As long as you keep making your payments, creditors will leave you alone. Filing for a chapter 13 is great if you are able to make the payments and live within the confines of a budget. But if it demands frugality to the point of misery, you are doomed.

Every chapter 13 plan must pass two tests. The first is the best-interest test, which mandates that unsecured creditors be paid at least as much as they would receive if you filed a Chapter 7 instead of a Chapter 13. The second is the best-efforts test, which requires that you pay all your disposable income, which is the amount left over after paying reasonable living expenses, to the trustee for at least the first 36 months of your plan.

If your monthly income is more than the median for your state, allowable expenses will be based on Internal Revenue Collection Financial standards, and the plan must run for five years. Otherwise, the amount of your payments will be based on your actual expenses, so long as they are reasonable.

Creditors usually end up receiving only a small percentage of what they’re owed and must typically settle for less. After that, you are free. To qualify for Chapter 13, your debts must fall within specific limits. Your unsecured debts can’t be more than $307,675 and your secured debts can’t exceed $922,975.

Disadvantages of Chapter 13 Bankruptcy

Although bankruptcies may provide some relief, there are undeniable disadvantages. An obvious disadvantage is that it usually takes at least 3 years to complete. You’ll probably have to give up your income tax refunds and you won’t be able to incur any more debts without the trustee’s consent. You can lose your job and your ability to maintain payments, resulting in dismissal of your case. You may also risk your homestead exemption if you move or sell your home. Another disadvantage in comparison to Chapter 7 is that your credit is less attractive. With a Chapter 7, your slate is clean and all your debts are gone.

About two-thirds of Chapter 13 plans fail. Debt collectors come back and resume all their collection efforts. There is a good chance they will force you into Chapter 7 in hopes of getting something out of you.

If you have fallen behind on your bills and are being harassed by creditors contact Stockton Chapter 13 Bankruptcy lawyer at Law Office of Robert W. Fong by calling (209) 475-0499 to see if you qualify to file bankruptcy and get a new fresh start.

Consult with a Stockton Chapter 13 Bankruptcy Lawyer

If you are having financial hardship and are considering filling for bankruptcy contact a Stockton bankruptcy lawyer at the Law Office of Robert W. Fong for help. Bankruptcy attorney Robert Fong will determine if Chapter 7 bankruptcy or chapter 13 bankruptcy is a viable option for you and provide proficient, accurate, and protective representation. Robert W. Fong has represented thousands of people in bankruptcy cases, and has a over 25 years of legal experience. Bankruptcy lawyer Robert Fong has  the experience that is necessary to properly evaluate, prepare, and file your case. We proudly serve Sacramento, Yolo, Placer and San Joaquin County and have offices in Carmichael and Stockton, CA.

Get Help Today

(209) 475-0499

Stockton Office

Law Office of Robert W. Fong
1151 West Robinhood Drive, Suite B15
Stockton, CA 95207
Phone: (209) 475-0499

Bankruptcy Information

How does Chapter 13 differ from Chapter 7 Bankruptcy?

Unlike Chapter 7 Bankruptcy, which involves liquidating assets to pay off debts, Chapter 13 allows individuals to retain their property and repay creditors over time through a court-approved plan. This makes Chapter 13 an attractive option for those with a regular income and a desire to maintain ownership of their assets while addressing their financial obligations. Robert Fong, an experienced Stockton Chapter 13 Bankruptcy Lawyer, can help determine the most suitable bankruptcy option based on your unique financial situation and goals.

Who is eligible for Chapter 13 Bankruptcy?

Eligibility for Chapter 13 Bankruptcy is designed for individuals with a consistent income who do not exceed certain debt limits. This option is not available to corporations or partnerships, but sole proprietors may qualify. Key eligibility criteria include having sufficient income to meet monthly repayment plan requirements while covering living expenses. Understanding these qualifications can be complex, but a Stockton Chapter 13 Bankruptcy Lawyer like Robert Fong can offer clarity and assist in evaluating your eligibility for Chapter 13 Bankruptcy.

What are the benefits of filing for Chapter 13 Bankruptcy?

Filing for Chapter 13 Bankruptcy offers several advantages, including the ability to prevent home foreclosure, reorganize various debts under more manageable terms, and consolidate payments to creditors. This path not only helps protect your assets but also facilitates a structured repayment process without direct creditor harassment. To explore how these benefits apply to your situation and to navigate the intricacies of filing, consulting with Robert Fong, a trusted Stockton Chapter 13 Bankruptcy Lawyer, is a prudent first step.

What happens if I cannot complete my Chapter 13 repayment plan?/h2>

Should unforeseen circumstances arise that hinder your ability to fulfill your Chapter 13 repayment plan, there are several avenues to consider, such as plan modification, conversion to Chapter 7, or a hardship discharge. Each option has specific qualifications and implications for your financial future. Navigating these alternatives can be challenging, but Robert Fong, a dedicated Stockton Chapter 13 Bankruptcy Lawyer, can provide the necessary legal advice and representation to address these issues effectively.