Chapter 13 Bankruptcy

If you are struggling to pay your monthly debts on time, are fighting each month to make ends meet, or are feeling completely overwhelmed financially, contact the Hemet Law Firm of Bloom & Rudibaugh. Our experienced bankruptcy attorneys have been representing bankruptcy clients in and around Hemet for over 34 years. We understand how significant the emotional burden brought about by financial strain can be, and work to help relive the stress brought on by harassing phone calls, threatening letters, and pending litigation.

The Bankruptcy Process is extremely complicated. It is vital to have someone representing you who understands its complexity
and can help you navigate the process with as little stress as possible. If you are considering filing for Bankruptcy, contact
Bloom & Rudibaugh today to schedule a free bankruptcy consultation. We have offices conveniently located in both
Hemet and Murrieta to better serve the needs of our clients.

Chapter 13 Bankruptcy is designed to help those individuals who fail to meet the qualifying conditions of filing for Chapter 7 Bankruptcy Protection, typically because the petitioner has a regular source of income that exceeds the amount allowable under Chapter 7, or because the party owns considerable assets. Also known as “reorganization bankruptcy,” Chapter 13 Bankruptcy provides a means for individuals to consolidate and reorganize their debts, and pay them off either in part or in full over a 3-5 year time period. At the end of the proscribed timeframe, if all payments due under the Chapter 13 Reorganization Plan have been made in a timely manner, the Bankruptcy Court may discharge the remaining balances owed.

As with Chapter 7, as soon as you file for Chapter 13 Bankruptcy Protection, all debt collection and pending litigation must immediately cease, including foreclosure proceedings.

When a party files their Chapter 13 Bankruptcy Petition, they must also include a proposed repayment plan that clearly outlines how and when their debts will be paid. Although the Court may require some creditors to be paid off entirely, they may allow some debts to be paid only in part, and some may be discharged completely.

After your Chapter 13 Bankruptcy Petition and Reorganization Plan are filed with the Bankruptcy Court, the Court will assign a Bankruptcy Trustee to manage your case. The First Meeting of Creditors hearing will typically take place within 4-5 weeks once your petition has been filed. If the Trustee determines that your proposed repayment plan is satisfactory and the plan isn’t opposed by your creditors, the Bankruptcy Trustee will then make a recommendation to the Bankruptcy Court Judge to approve your Chapter 13 Bankruptcy Plan.

If there are any objections to your proposed plan, the court will hold a hearing. Your repayment plan may be amended prior to the hearing for creditor or trustee approval. Once the judge confirms your repayment schedule, and all payments owed under the plan are made, the case will be discharged.

If you are currently undergoing extreme financial stress and are looking for a way to get your life back, contact the Hemet Law Firm of Bloom & Rudibaugh. Our experienced Bankruptcy Lawyers can help you regain your peace of mind and help you obtain a fresh financial start!

We have offices conveniently located in both Hemet and Murrieta to better serve the needs of our clients.

For immediate assistance, please call our experienced and knowledgeable lawyers today at (951) 652-1400 to schedule your free initial consultation!