California Debt Relief Lawyers
Attorneys practicing in Debt Relief Debt Relief Case Evaluation Contact the law offices of New Horizon & Associates LLP
Debt Relief Practice Areas
Foreclosure Defense
Short Sale Deed in Lieu
Loan Modification
Bankruptcy
Chapter 13
Chapter 7
Loan Audits
Foreclosure Loans

Chapter 13 Bankruptcy

Debt Relief Lawyer Serving Los Angeles, San Bernardino and Ventura

Chapter 13 bankruptcy offers debtors a number of specific benefits. By establishing a repayment plan that allows a debtor to pay a portion of his or her debt over three to five years, Chapter 13 bankruptcy offers a debtor protection for non-exempt assets and property. Chapter 13 bankruptcy will also place an automatic stay on foreclosure proceedings and may offer a debtor a better chance of keeping his or her home, as the repayment plan may include mortgage arrears. Upon the successful completion of a Chapter 13 repayment plan, all remaining eligible debt will be discharged.

Not all debtors will qualify to file for bankruptcy under Chapter 7 of the bankruptcy code, under the Means Income Test. This test essentially evaluates a debtor's income, and if a debtor's income is too high, he or she will not qualify to file under Chapter 7. As such, Chapter 13 is typically recommended for debtors with regular income and who have property they would like to protect.

Making the decision to file for bankruptcy is not an easy one, but with the right information and guidance, you can make the choice that is truly right for you. That is precisely why we at the Law Offices of John Ribarich are committed to providing our clients with personalized attention and guidance that is based upon our legal knowledge in regard to Chapter 13 bankruptcy cases in California. Our law firm represents clients throughout Ventura, Los Angeles and San Bernardino. We welcome you to call us at 877-306-6343 to discuss your options and how we can assist you.

Contact a Chapter 13 bankruptcy lawyer at our law firm today if you are considering bankruptcy and you reside in Ventura, San Bernardino, Los Angeles or the surrounding areas in Southern California.





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Address: 15223 Burbank Blvd.    Sherman Oaks, CA 91411    Phone: (877) 306-6343

Further Disclaimer: By now, you may have made your own attempts at loan modification. You now know what we have known: Despite all the government and media hype, the voluntary loan modifications are not the silver bullet to the foreclosure crisis. Even after President Obama introduced the HAMP program, only about 8% of the anticipated 9 million loan modification applications have been considered. Never forget that lenders and loan servicers are in the business of making money for their shareholders, not solving people’s financial problems. Despite the incentives created by the government, loan servicers remain inconsistent, negligent, understaffed, arrogant and just plain indifferent to the financial plight of most folks. If you’ve ever wondered why the bank doesn’t seem to care? Consider that it is the investor, not loan servicer, takes the financial hit when a property is foreclosed. Loan servicers make more money when a borrower falls into foreclosure. Servicers have an incentive to drag out the foreclosure and loan modification process. Despite what the government and the lenders may say, the loan modification or short sale process is not as quick and easy as has been portrayed.

VIOLATIONS CAN GIVE YOU LEVERAGE to secure a “SETTLEMENT”, not a LOAN MODIFICATION.

Whether hiring a lawyer will increase your chances for success a little or a lot depends on whether the lender has done something wrong. This is why Attorney Ribarich encourages every client to commission an audit of the original loan documents, review the appraisal and take measure of any agency relationships between the broker, the lender, the appraiser, the escrow and the title companies. Anecdotally, Attorney Ribarich believes that your chances of success increase fourfold if there is litigation or bankruptcy. Hiring a lawyer to review your options and handle the process makes sense. Your chances of obtaining a substantial loan modification will be greatly improved if the lender has violated the law…but how will you ever know? A lawyer can help you gain negotiating leverage on your behalf by finding violations of the law or capitalizing on provisions of the bankruptcy code.