Filing bankruptcy can significantly change your life; it effectively discharges you from your debts and prevents creditors from harassing you. While you may already know the numerous benefits derived from filing bankruptcy, you probably don’t know how a Chapter 13 Bankruptcy Lawyer may be of assistance. This article will highlight the role of such a lawyer, how to hire one and how Chapter 13 may potentially save you financially.
To begin with, your lawyer is charged with selecting the best bankruptcy option for you, between Chapter 7 and Chapter 13. This will be based on your eligibility, lest you spend too much money filing Chapter 7, or your debt is too much for Chapter 13. Besides, competent bankruptcy attorney will help you in protecting your assets and properties, regardless of whether you file Chapter 7 or Chapter 13.
For instance, a competent lawyer will tell you that successful filing of Chapter 13 requires you to have sufficient proof of adequate income to support a repayment plan. You also need to show that both your secured and unsecured debts are not too high, while revealing the debts that you can pay in full and those you can only pay a fraction of.
A Chapter 13 Bankruptcy Lawyer will not only help you in proper filing, they will also handle any court actions. You need to realize that you will be required to appear in court while filing, which is why you need a knowledgeable lawyer to handle the majority of the process for you. Such services are extremely invaluable especially if you have little or no experience.
Moreover, filing for bankruptcy will essentially free you from creditor harassment. Chapter 7 ensures a complete discharge of debts, meaning that your creditors will have no reason to contact you. Chapter 13 also entails payment of some or all of your debts. If your creditors continue to harass you, you may refer them to your attorney to achieve some peace of mind.
While chapter 13 filing will not necessarily involve automatic starting over like what happens in Chapter 7, its importance should not be underestimated. It discharges you from your debts eventually, enabling you to buy properties and assets. If you are looking for Chapter 13 Bankruptcy Lawyer, contact the offices of Law Margulies.