Chapter 13 Bankruptcy Lawyer in Oxnard, CA Making Bankruptcy Easier for You

When you are struggling with debt, it can feel like you are carrying a weight on your shoulders every day. Not only is the debt itself stressful, but the constant worry about how you will make ends meet can be overwhelming. You may feel like you are in a never-ending cycle of stress and anxiety.

On top of all that, you may feel embarrassed or ashamed about your financial situation. You may feel like you are the only one going through this, or that you are failing in some way. All of these feelings are normal, but it is important to remember that you are not alone. Millions of people are struggling with debt, and there is help available.

If you are considering filing for bankruptcy, please contact me and my law firm as soon as possible. The process can be complex, and it is important to have someone who can guide you through it step by step. Bankruptcy is not the right solution for everyone, but it can provide a fresh start for those who qualify. I can ensure you get the right help by analyzing your specific financial situation. Call the Law Offices of Eric Ridley today at (805) 244-5291 for a free initial strategy session and get the help you deserve.

What is Chapter 13 Bankruptcy?

Chapter 13 bankruptcy is a plan that allows you to repay your debts over a period of time. It is also known as a reorganization bankruptcy. In order to file for Chapter 13 bankruptcy, you must have a regular income and your unsecured debts must be less than $383,175.

There are several benefits to filing for Chapter 13 bankruptcy. First, it can help you keep your property. Second, it can help you lower your monthly payments. Third, it can stop foreclosure proceedings. And fourth, it can allow you to discharge certain types of debt.

However, there are also some drawbacks to Chapter 13 bankruptcy. A major one is that it can take longer to complete than other types of bankruptcy. And it may not be available to everyone. However, if you are eligible and have the means, Chapter 13 bankruptcy can allow you to start fresh and take a heavy burden off your shoulders.

If you are considering Chapter 13 bankruptcy, it is important to consult with me so I can advise you on whether this is the right option for you. I inform you of all of your options and what to expect before making any final decisions.

Am I Eligible for Chapter 13 Bankruptcy?

If you have a regular income and want to keep your property, but can’t seem to catch up on your debts, Chapter 13 bankruptcy may be right for you. Unlike Chapter 7 bankruptcy, which completely wipes out your debt, Chapter 13 bankruptcy consolidates your debt into a repayment plan that is overseen by the court.

In general, to qualify for Chapter 13 bankruptcy, you may have to:

• Be an individual or married couple (corporations and partnerships cannot file for Chapter 13 bankruptcy)
• Have regular income
• Owe less than $394,725 in unsecured debt (e.g. credit card debt)
• Owe less than $1,184,200 in secured debt (e.g. mortgage or car loan)

If you do not meet the above criteria, you may still be eligible for Chapter 13 bankruptcy if you can show that your income is lower than the median income for a household of your size in your state.

Once you’ve determined that you are eligible to file for Chapter 13 bankruptcy, the next step is to gather all of the necessary documentation. This includes your most recent tax return, pay stubs, a list of your creditors and the amount you owe each, and a list of your assets and liabilities. You will also need to take a mandatory credit counseling course before filing for bankruptcy.

What Does a Chapter 13 Bankruptcy Lawyer Do?

When someone files for Chapter 13 bankruptcy, they are asking the court to appoint a trustee to help them come up with a repayment plan. This repayment plan will be designed to help the debtor repay as much of their debt as possible over a period of three to five years. A Chapter 13 bankruptcy lawyer will work with the debtor to create a repayment plan that is feasible and that meets the requirements of the court. The bankruptcy lawyer will also represent the debtor in court and negotiate with creditors to get the best possible outcome in the end. I can help you decide if Chapter 13 bankruptcy is right for you by providing a free consultation. Contact me today to get started.

Contact the Law Office of Eric Ridley Today for Compassionate and Helpful Service

No one wants to think about bankruptcy, but for some people, it is the best possible solution. The Law Office of Eric Ridley can help you through every step of the process, from filing to rebuilding your credit. I understand that this is a difficult time for you and I am here to support you every step of the way. I believe everyone deserves a second chance and I will work tirelessly to help you get back on your feet. You are not alone, I am here to help. Call the Law Offices of Eric Ridley today at (805) 244-5291 for a free initial strategy session and get the help you deserve.