A tax bill can be especially difficult when the IRS and the California Franchise Tax Board are both seeking payment. You may be able to handle many prebankruptcy tax debts in a Chapter 13 plan instead of trying to maintain separate collection arrangements alongside credit card and car payments. The plan can spread required payments over several…
Continue reading ›A Chapter 13 plan can last years. During that time, you might make the last payment on a car loan, receive insurance money after an accident, or learn that an insurer has paid the vehicle lender. It is natural to ask: If the car creditor is no longer owed money, why am I still paying the…
Continue reading ›Most people enter a Chapter 13 consultation hoping to keep their car. Sometimes, however, the vehicle payment is the expense preventing a workable plan. A car with repeated repairs, high insurance, or a loan far above its value can drain money needed for rent, food, taxes, and the Chapter 13 payment. Surrendering a car is…
Continue reading ›A common promise in bankruptcy advertising is that Chapter 13 can “cut your car loan down to the car’s value.” That can happen in some cases. It can also be entirely unavailable for a particular loan. Before counting on savings, separate two issues: the amount of the secured claim and the interest rate used to pay it under…
Continue reading ›For many Californians, losing a car would make it harder to work, take children to school, or handle medical appointments. That is why the first question at a bankruptcy consultation is often simple: Can I keep my car? In many Chapter 13 cases, the answer is yes. Chapter 13 offers a way to propose payments over…
Continue reading ›If you have always paid your car lender on time, you may wonder why your Chapter 13 bankruptcy plan now includes the car. Wouldn’t it be simpler to keep sending the lender its usual monthly payment and reserve the bankruptcy payment for your other debts? Sometimes direct payment is possible. But it is not a…
Continue reading ›Facing severe debt can feel overwhelming. If you are dealing with constant creditor calls, threatened wage garnishments, or the fear of rising interest payments in the Sacramento area, bankruptcy can provide a legal pathway to a fresh financial start. Filing for bankruptcy is not a sign of failure. It is a powerful federal tool designed…
Continue reading ›If you are searching for an affordable bankruptcy lawyer in Sacramento, attorney fees are probably one of your first concerns. That makes sense. If you are already struggling with credit cards, personal loans, medical bills, taxes, or other debts, the last thing you want is another expense you cannot afford. But there is an important distinction…
Continue reading ›If you are searching Google for the best bankruptcy attorney serving Sacramento, you are probably looking for more than someone who can simply file bankruptcy paperwork. You want a bankruptcy lawyer who can look at your entire financial situation, explain your options clearly, protect what you have, and help you choose the strategy that gives you…
Continue reading ›If you owe money to the IRS or the California Franchise Tax Board (FTB), you’re not alone. Many hardworking people in Sacramento fall behind on their taxes after experiencing a job loss, divorce, medical emergency, business slowdown, or other unexpected financial setback. Once tax debt begins to grow, penalties and interest can quickly make the…
Continue reading ›
