Leventhal Law Group, P.C., in Woodland Hills, California, serves clients in the San
Fernando Valley area. Communities include Northridge, Van Nuys, North Hollywood,
Encino, Santa Clarita, Valencia, Palmdale, Lancaster, Mission Hills, Thousand Oaks,
Simi Valley, Calabasas, Canoga Park, Chatsworth, Porter Ranch, Reseda, Tarzana, Malibu
and counties that include Los Angeles County and Ventura County.
Chapter 13 Bankruptcy: A Woodland Hills, California, Attorney
Information About Chapter 13 Bankruptcy
Chapter 13 bankruptcy is a court-supervised reorganization of your debts. Reorganizing
debts as opposed to liquidating them allows debtors to repay some of them. If you
fail to qualify for Chapter 7 bankruptcy through the means test, you can still get
relief through Chapter 13 bankruptcy. There are some advantages to Chapter 13, so
even if you think you won't qualify for Chapter 7, you should still consider filing
At the Woodland Hills, California, Leventhal Law Group, P.C., I provide clients with
assistance throughout the bankruptcy process. From initial counseling through the
filing and submission of documentation, I am available and responsive to clients'
Call a Los Angeles-area Chapter 13 bankruptcy lawyer at 818-347-5800 for a free initial
Differences Between Chapter 7 and Chapter 13 Bankruptcy
Repay your debts. Unlike in Chapter 7 bankruptcy, a Chapter 13 debtor does not surrender
any of his or her assets, such as the home or car. Rather, Chapter 13 involves a
repayment plan over time — usually three or five years. The repayment plan is based
on the debtor's anticipated income over the period of repayment. Because of this,
it is sometimes known as wage-earner's bankruptcy.
Automatic stay in place for three to five years. Another difference is that the debtor
does not discharge his or her remaining debts until the payment plan is complete.
The person is protected by the automatic stay that applies for the entire duration
of the repayment plan — for three or five years.
Requires regular income. Most people are eligible for Chapter 13 bankruptcy; there
are upper limits on the amount of secured and unsecured debt that can be included.
Debtors do need to have regular income so that they can make the agreed-upon payments
to creditors. As with Chapter 7, the debtor must complete a credit/bankruptcy counseling
session and file a certificate of completion with the bankruptcy petition.
Save the house. A Chapter 13 bankruptcy filing can stop impending foreclosure and
save the debtor's house, because past-due mortgage payments may be folded into the
debt to be repaid over time. As long as the ongoing payments are made, the debtor
is usually able to keep his or her house.
Contact a Los Angeles Debt Reorganization Lawyer
Contact the law firm of Jonathan Leventhal. Call 818-347-5800 to find out how an
attorney can help you file Chapter 13 bankruptcy.
We are a debt relief agency. We help people file for bankruptcy relief under the