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Introduction to Bankruptcy

The Law Offices of Chen & Tran  - bankruptcyThe Law Offices of Chen & Tran features attorneys who have a strong background in helping clients obtain relief from their unmanageable financial situations.  In many cases, bankruptcy is the best solution.  Bankruptcy will help you eliminate all or most of your unsecured debt.  Additionally, it will stop creditor harassment, garnishments, repossessions and foreclosures.

Chen & Tran have knowledge, experience and attention to detail required to guide you through each step in the process.  Our goal is to make sure you get the assistance and relief to move forward.

Chapter 7 Bankruptcy

People commonly refer to Chapter 7 as liquidation.  However, this term is somewhat misleading.  In most cases, people who file bankruptcy do not lose anything at all.  At Chen & Tran, we will make sure we do everything we can to completely discharge your debt without losing any of your property.  Those that qualify for Chapter 7 will receive a discharge of their unsecured debt without making any other payments to the courts or creditors.

Chapter 13 Bankruptcy

Many people refer to Chapter 13 as a reorganization or restructuring of debt.  To put it more accurately, a Chapter 13 is a 3 to 5 year payment plan.  The payment amount is determined by the amount you can afford each month.  Basically, the payment plan is your gross monthly income subtracted by your necessary expenses (e.g. taxes, mortgage, health insurance, food, clothing cell phone bill).  The Law Offices of Chen & Tran have experience working in the Central District of California.  We will work with you and the Bankruptcy process to obtain a plan payment that is affordable and works.