Filing a Chapter 13 Bankruptcy can be precisely what a person needs to start a new life and fresh financial future. However, there are certain requirements an individual must meet in order to be able to file a Chapter 13 Bankruptcy. There are also many legal documents that should be filled out for a Chapter 13 Bankruptcy. This article will discuss the simple procedure of filing a Chapter 13 Bankruptcy and how a lawyer may help you deal with a Chapter 13 bankruptcy situation.
Before filing a Chapter 13 Bankruptcy, a person will need to undergo a credit counseling briefing that's approved by the government and U.S. Trustee office. Be sure to save the certificate of completion you'll receive from this session. After, you will directly hand over this certificate of completion along with your petition to file a Chapter 13 Bankruptcy. One excuse to hire a lawyer is so you can double check that you're completing all of the legal documents in a satisfactory fashion. An attorney is also able to file all of your documents with the court in a no-hassle manner. Also, attorneys have a keen understanding of the court system and are able to navigate it in an efficient manner. After your lawyer files your petition for bankruptcy in bankruptcy court, then lenders will stop calling you on a daily basis.
Because of 11 U.S.C. 362, you will be protected from the harassment of lenders after filing a Chapter 13 Bankruptcy. After filing the first petition, it takes only a couple weeks to schedule the next court meeting for filing a Chapter 13 Bankruptcy. There is a repayment schedule that also must be submitted to the court. This will also need to be filed within 15 days of sending in the petition and certificate of completion to the court.
After you visit the 341 meeting, you will frequently be discharged by the court within anywhere from 60 days to 90 days after the meeting. While the process seems simple, it is important to have a bankruptcy lawyer look over your situation before proceeding to file a bankruptcy. If you have large levels of debt, you may have to confront creditors at the 341 meeting which could be a stressful experience without an attorney. A lawyer could help make every bump in the legal process seem really smooth. In addition, a lawyer will advise you if there is anything that could make your case appear fraudulent before a court. Many individuals transfer properties to pals or families prior to filing bankruptcy and don't understand this is fraudulent activity. An attorney could help you from unwittingly producing such illegal errors.
