Legal Question in Bankruptcy in California

Filing Chapter 13

Hi our investment property will be foreclosed soon. The sale date is on 1/6/09. We are looking into filing chapter 13 to protect us from harrassment. Is this a good idea? What is the a good timing to file chapter 13 if you think this will protect us.


Asked on 12/21/08, 3:11 pm

1 Answer from Attorneys
Carl Starrett Law Offices of Carl H. Starrett II

Re: Filing Chapter 13

Filing any type of bankruptcy will temporarily protect you from creditor harassment, but the decision to file bankruptcy cannot be mad on the limited set of facts present. Whether you should file bankruptcy and what type of bankruptcy to file will be based on many factors. For example, filing for a Chapter 13 bankruptcy might be useful to create a court-ordered repayment plan that lets you get caught up on the mortgage payments. However, there are also limits on how much debt you can have while going into a Chapter 13.

You need to consult with a local bankruptcy attorney. I would go to the website for the National Association of Consumer Bankruptcy Attorneys and use their attorney search function to fine someone in your area.

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Answered on 12/21/08, 4:15 pm


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