Important Ways That A Chapter 13 Bankruptcy Lawyer Will Help You
When you file for a Chapter 13 bankruptcy, you'll be able to save your home from foreclosure and create a reasonable repayment plan to cover your other debts. This option will give you some financial relief and peace of mind, but the process may seem very daunting. To navigate the nuances of your unique situation, you should work with a Chapter 13 bankruptcy lawyer. Once you hire an attorney, you can rest assured that you'll have an advocate to help you move through the complicated steps of your case. Below are some of the valuable ways that a Chapter 13 bankruptcy lawyer will ensure your success.
1) Your Chapter 13 bankruptcy lawyer will confirm that all of your paperwork is filed correctly.
A substantial part of the Chapter 13 bankruptcy process requires completing a great deal of paperwork. You'll need to file a petition with the bankruptcy court and submit several additional documents. However, even a minor error with this paperwork can cause big problems for your case. Delays could cause you to lose protection from creditors, and any mistakes on a form may result in your case being dismissed entirely. A lawyer, on the other hand, will know how to prepare all of the necessary Chapter 13 bankruptcy forms correctly. Since your attorney will know local filing rules, your paperwork will always be submitted on time and with great accuracy.
2) A lawyer can guide you in developing a proper repayment plan.
Creating a Chapter 13 bankruptcy repayment plan that satisfies all legal mandates can be difficult. Your plan must outline precisely how much will be paid towards each debt. To verify that all secured debts (mortgages and car loans) and unsecured debts (credit cards and medical bills) are included, it's best to ask a Chapter 13 bankruptcy lawyer for some guidance. They can help you determine which debts are of the utmost priority and which ones have non-priority status. These details are essential because the degree and order of your debts will ultimately dictate how your Chapter 13 monthly payments will be distributed. An attorney can make certain that your plan is compliant and fair.
3) Your lawyer will represent you at your Chapter 13 confirmation hearing.
After you have submitted your proposed repayment plan, some meetings will be scheduled to confirm the plan. One of the most important meetings is called the Chapter 13 confirmation hearing. At this hearing, the court will discuss any objections that your creditors have made regarding your plan. Your attorney will address the objections for you and will work to move your plan through to a final confirmation. Having a Chapter 13 bankruptcy lawyer on your side can make a big difference at a confirmation hearing because your attorney will be able to settle all disagreements about your plan with your creditors. Without a knowledgeable party to argue on your behalf, you may not be able to overcome the objections in order to successfully confirm your repayment plan.
If you are considering filing for a Chapter 13 bankruptcy, don't hesitate to consult a lawyer to discuss your options. An attorney will guide you through the process and make sure that you take the right steps for your particular situation. Contact a Chapter 13 bankruptcy lawyer for more information.