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A FRESH START WITH A CLEAN SLATE

Bankruptcy is provided for in the United States Constitution. It is a way for honest folks who find themselves in impossible debt situations to cancel (“discharge”) most debts in order to get a fresh start with a clean slate.

Bankruptcies for individuals and small businesses fall within two categories: Chapter 7, sometimes called “straight bankruptcy” because it’s what most people think of when they think of bankruptcy; and Chapter 13, often called a “wage-earner plan” or “debt consolidation,” because it involves your participation in a minimum 36-month payment plan where you repay a certain percentage to your unsecured creditors.

What happens to your home when you file for Chapter 13 bankruptcy? For the most part, you don't give up any property in Chapter 13 bankruptcy. This means that if you are current on your mortgage, you keep your home.

If you are behind on your mortgage or facing foreclosure, Chapter 13 (unlike Chapter 7) allows you to make up mortgage arrears through your Chapter 13 plan.

Chapter 13 bankruptcy provides other tools to reduce your home mortgage debt. You can strip off junior liens (second or third mortgages or home equity lines of credit) in certain situations. This can reduce your home loan debt significantly.

Salinas Bankruptcy Attorney Clark Miller can help you with all your questions and decisions about bankruptcy and mortgage.

And, your initial consultation is always FREE, with no obligation beyond the first visit.

Phone (831) 424-1764

217 West Alisal St - Salinas, CA

Serving Salinas, Hollister & All of Monterey County Since 1973

 

As featured in the The Carmel Pine Cone (page 25)!

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First Interview At No Charge (Evenings Available)

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We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code...and have been doing so proudly for over 30 years.

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