Chapter 13 · Monterey Park
Chapter 13 Attorney for Monterey Park Homeowners and Families
Monterey Park homeowners have built equity over many years, and Chapter 13 helps protect it. Chapter 13 stops a foreclosure or repossession and lets you catch up over 3 to 5 years. Call (310) 362-9071 for a free consultation.
- Median owner home value: $863,000
- Stop a foreclosure or repossession
- Catch up over 3 to 5 years
- Meet in Beverly Hills or by video
Saving a home in Monterey Park
About 51.6% of homes in Monterey Park are lived in by their owners, and the median owner-occupied home is valued at $863,000. California's homestead exemption protects a large share of that equity. Owners who have paid their mortgage down a lot should still have us run the numbers before choosing a chapter. California's homestead exemption rises with inflation each year. In Los Angeles County, owners generally get the top amount, which is about $744,000 in 2026.
Owners who have lived in Monterey Park for decades often have small mortgages and large equity. When equity is above the homestead exemption, Chapter 13 keeps the house and stops a foreclosure.
How long a Monterey Park Chapter 13 plan runs
Because half of Monterey Park households earn less than $81,855, many filers here are below the state median for their household size. Below-median filers can often use a 3-year plan instead of 5.
Your plan payment is based on your income after reasonable costs. Median rent in Monterey Park is $1,888 a month. A year of that rent equals about 28% of the city's median household income. Even so, a job loss or medical bill can push rent and other bills onto credit cards fast. Those housing costs count when we build your budget.
When Chapter 13 fits Monterey Park filers
- You are behind on a mortgage. Past-due payments are spread over the plan while the sale stays on hold. See stop foreclosure.
- You pass the means test but need more time. Many Monterey Park filers qualify for Chapter 7, yet choose Chapter 13 to catch up on a house or car they want to keep.
- You need to keep a car. Some older car loans can be cut to the car's value.
Chapter 13 also helps Monterey Park families who share a home across generations and need time to catch up on the mortgage or property taxes.
Where a Monterey Park Chapter 13 case is heard
Bankruptcy cases from Monterey Park are assigned to the Los Angeles Division of the U.S. Bankruptcy Court, Central District of California, at the Roybal Federal Building, 255 East Temple Street, downtown.
After filing, you make plan payments to the Chapter 13 trustee, and a judge confirms the plan at a hearing.
Related pages
If your debts are mostly credit cards and medical bills, a Chapter 7 attorney for Monterey Park may be the faster path. See bankruptcy attorney for Monterey Park for both options, or read our main Chapter 13 bankruptcy page.
Chapter 13 questions from Monterey Park
Can Chapter 13 stop a foreclosure on my Monterey Park home?
Yes, Chapter 13 can stop a foreclosure if it is filed before the sale. The missed payments are then paid over the plan while you keep making current payments.
Will I keep my Monterey Park home in Chapter 13?
Yes, you usually keep your home in Chapter 13 if you make the plan payments and stay current on the mortgage after filing. With a median home value near $863,000 in Monterey Park, many owners can protect their equity either way, so we compare both chapters.
Can my adult children help pay my Monterey Park Chapter 13 plan?
Yes, adult children who live with you can help pay your Monterey Park Chapter 13 plan. Their help counts as household income.
Free consultation
Protect your Monterey Park home or car
Call (310) 362-9071 or send the form. Have any sale date or notice ready.
Law Offices of John Asuncion9454 Wilshire Blvd., Penthouse Floor
Beverly Hills, CA 90212
(310) 362-9071
Monday to Friday, 9 a.m. to 6 p.m.