About Me

Understanding Bankruptcy Cases and Outcomes

Hello, my name is Quianna Ridalgo. I enjoy talking to others about bankruptcy case outcomes. Court officials handle each type of debt, from credit cards to home loans, differently. Debtors must carefully prepare themselves for the court proceedings to cope with the outcome appropriately. The way creditors handle the discharged debt also interests me. Bankruptcy attorneys assist their clients with each step of the bankruptcy process from filing paperwork to meeting with creditors. Debtors and creditors both receive counsel that helps them move forward appropriately at every point in the case. The information I share on my site may help you learn about everyone's role in these complex cases. Feel free to come by anytime to learn more information about this interesting subject.

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Understanding Bankruptcy Cases and Outcomes

Legal Assistance For Chapter 13 Bankruptcy

by Loretta Harris

Did you file for Chapter 7 bankruptcy but were denied due to not passing the means test because you make too much money? If the thought of having to continuously deal with creditors makes you feel frustrated and hopeless, hire a lawyer to discuss filing for Chapter 13 bankruptcy. A lawyer can find out if you qualify and help you get the filing process started if you decide that Chapter 13 bankruptcy is right for you. A lawyer can assist you through the entire process of getting approved and can also assist if you are unfairly denied. Your chance of getting approved is higher with the guidance of a lawyer.

How Is Chapter 13 Different from Chapter 7 Bankruptcy?

Chapter 7 bankruptcy is ideal for most people who cannot afford to pay their creditors back. The reason is that Chapter 7 wipes debts away so a filer can start over without creditors constantly calling about debts. On the other hand, Chapter 13 bankruptcy is useful for a filer who makes a satisfactory income but cannot afford to pay all of the debts back at once. Rather than your debts being wiped out completely, a trustee will be appointed so you can pay creditors back a specific amount of money each month. A lawyer can help you to determine if you are qualified for Chapter 13 bankruptcy, as well as if you can actually afford to stick to a repayment plan.

How Many Years Are Allowed for a Repayment Plan?

A repayment plan can vary based on the number of debts that a filer must pay back to creditors. However, just because one filer does not owe as many debts as another filer, it does not mean that they cannot take advantage of the maximum repayment period allowed. If something happens to your income within the repayment period, a lawyer can assist with modifying your payments or settling the situation in another way. A lawyer can possibly get the Chapter 13 bankruptcy case dismissed altogether.

What Is the Filing Process for Chapter 13 Bankruptcy?

When you consult with a lawyer about Chapter 13 bankruptcy, they will explain the filing process. A mandatory step that you must take is to take a credit counseling course. The course will help you understand more about your financial situation from a professional perspective. A lawyer will assist with the remainder of the process, including filing your bankruptcy documents, meeting with creditors, and several other steps.  

Contact an attorney like Ricardo B. Casas to learn more.