TOVAR LAW FIRM

TOVAR LAW FIRM | CHAPTER 13 BANKRUPTCY ATTORNEY | STOCKTON | MODESTO | SACRAMENTO


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Chapter 13 Bankruptcy offers individuals a number of advantages over liquidation under Chapter 7 Bankruptcy.  Perhaps most significantly, Chapter 13 Bankruptcy offers an opportunity to save a home from foreclosure.  By filing for bankruptcy protection under this chapter, homeowners can stop foreclosure proceedings and can cure delinquent mortgage paymentover time.  To discuss the specifics of a Chapter 13 Bankruptcy Repayment Plan call the Tovar Law Firm today.

Another advantage of Chapter 13 Bankruptcy is that it allows individuals to re-schedule secured debt (other than a mortgage for their primary residence) and extend payments over the life of the Chapter 13 Bankruptcy Plan. Doing this may lower such payments.


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Chapter 13Bankruptcy also has a special provision that protects third parties who are liable with the debtor on "consumer debts." This provision may protect co-signers.

Finally, Chapter 13 Bankruptcy acts like a consolidation loan under which the individual makes the plan payments to a Chapter 13 Bankruptcy Trustee who then distributes payments to creditors. Individuals will have no direct contact with creditors while under Chapter 13 Bankruptcy protection.

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