Southern California Bankruptcy Attorney Jeffrey Hsu Explains the Chapter 13 Bankruptcy Process In Orange County

Posted by on Nov 21, 2011 in Chapter 13 Bankruptcy Issues | 0 comments

Chapter 13 bankruptcy cases in Orange County are typically filed at the Ronald Reagan Building located at 411 W 4th St, Santa Ana, CA.  When filing a chapter 13 bankruptcy case, typically orange county bankruptcy filers will have their case assigned to Mr. Amrane Cohen, standing chapter 13 trustee.

The judges assigned to a chapter 13 bankruptcy case in Orange County will be judges located within the Ronald Reagan Building.  See more here about that.

So what is chapter 13?   Well,  chapter 13 is a repayment plan.  The plan will be between 3-5 years, depending on your income and how much you owe in debts.   The duration of the plan is not negotiable but rather is based on the financials of each case.   How much you pay to complete the plan is also entirely based on the financials of each case.   Chapter 13 is for wage earners and not for corporations.  Corporations that wish to reorganize file chapter 11’s.    Also individuals with high debts may have to file what are called individual chapter 11’s rather than chapter 13 due to what many consider low statutory debt caps for chapter 13 cases.

So why file chapter 13?  Well, people file chapter 13 when chapter 7 is not an option in some cases because they either make too much money (in the context of bankruptcy) or they own too much stuff (you can only keep so many personal assets in chapter 7).    People also file chapter 13 to strip liens on homes and less often on investment property even where they could otherwise file chapter 7.    People also file chapter 13 because they owe tax debts, or other certain martial debts.   People also file chapter 13 to cramdown the debts they owe on cars and other personal assets that may be secured by loans while also reducing the rate of interest paid towards those loans.

As you can see, there are many reasons to file a chapter 13 bankruptcy Orange County case.  Southern California bankrupty attorney Jeffrey Hsu of JCH Law Firm can help.   Mr. Hsu has successfully filed many types of chapter 13 cases.   At JCH Law Firm, we will guide you through the Chapter 13 process and take the time to explain the details of your case to you so you can make sense of what is going on with respect to your financial situtions and the options you face in chapter 13 cases.    Call us at 626-999-5959 today for a free consultation.   If you are considering bankrutpcy and want the best combination of experience, honesty, and affordability that you can find in your bankruptcy attorney, attorney Jeffrey Hsu is right for you.

 

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