Keeping the house or the family car is often one of the biggest concerns on the minds of our clients when they first walk through our office door in Alameda or call us on the phone to discuss bankruptcy. “Will filing for bankruptcy in Oakland leave us homeless and with no way of getting to work?” they ask anxiously.
The short answer is NO! In most cases, people do not lose their home or car just because they file for bankruptcy. They lose them if they are unable to pay for them. That happens even if you don’t file for bankruptcy. It’s the way things work here in Alameda, in Alameda County and throughout California.
Protecting a Home with Bankruptcy in Oakland. In many cases, filing a bankruptcy case can help you either catch up if you’ve fallen behind on your mortgage. In a chapter 13 case, you can get up to five years to get caught up. Chapter 13 was built by Congress to help Americans stay in their homes if they are able to continue making their payments and can catch up on arrears if given time. Many residents of Alameda are currently catching up the mortgage with a chapter 13.
In addition, a little know fact is that chapter 13 can often eliminate a second mortgage. Call Pixton Bankruptcy of Alameda today at (510) 451-6200 to schedule a no cost-no obligation consultation. We can help you decide if chapter 13 will help you save your home!
Protecting a Car in Bankruptcy. The great news is that you can keep your car in either chapter 7 or chapter 13 as long as you can afford the payments. As long as you navigate the bankruptcy system correctly, you’ll keep driving your car. Let Pixton Bankruptcy Law show you the way. Whether you live in Alameda or elsewhere, we know bankruptcy law and we can show you how to protect your car during and after the bankruptcy process.
Here’s another piece of good news: Chapter 13 can often reduce the amount you have to pay on your car. If you’ve owned your car for long enough, we can file a chapter 13 and get you into a payment plan where you pay only what the car is worth instead of what you owe on it. Often, we can save our clients thousands of dollars. Call us at (510) 451-6200 for details.
