The decision to file for bankruptcy is a significant one for a person’s life. Yet many people do not know what bankruptcy requires of them or how they can improve their odds of success. Talk to a team member from Gillman, Bruton & Capone and learn the benefits of retaining a Chapter 13 bankruptcy lawyer in New Jersey.
After you file a Chapter 13 bankruptcy petition, you must attend a trustee meeting about a month later, where they request various documents for review. An attorney can help speed up the process by properly advising you prior to filing for bankruptcy, and securing all the documents needed to prepare a petition and provide for the trustee afterward. Then, we can address any issues the trustee has as soon as they come up. Since our attorneys have been doing this for so long, we know everything the trustee is going to ask for prior to the hearing and we make sure to address all of it before the case is even filed.
Then, the trustee will file their objections, which may pertain to additional documents they want to see that explains your assets, values, income, and/or expenses. The quicker an attorney responds to those requests, the better chance there is of getting the case confirmed on the first attempt.
Sometimes it is easier for a debtor to go through Chapter 7 bankruptcy, let them get their discharge, wipe out all of their unsecured debt, and then come back and file a Chapter 13 to deal with mortgage arrears or taxes that are owed without having to deal with the unsecured debt. That is what we call a Chapter 20 bankruptcy. Now we are solely dealing with carrying these arrears or paying back these taxes, which can sometimes be the easier option.
A benefit of working with a New Jersey attorney is you can learn about these unique options that might not be obvious to someone who does not work with Chapter 13 bankruptcies for a living.
A lawyer can provide you with all the pros and cons of either going with a Chapter 7 or Chapter 13 bankruptcy, explaining the process for both, and showing what the ramifications will be of going one way versus the other.
We investigate the facts of your case and determine which Chapter is the path of least resistance for achieving your discharge, and making sure whichever way we go, you are eligible to file it. We do not want you to be in danger of losing any assets that you are not prepared to lose if we go the Chapter 7 bankruptcy route; and make sure you can afford whatever payment is going to be required in Chapter 13. If a person wants to save their house but an analysis of their mortgage arrears and income suggests that is not going to be feasible, a lawyer should be able to honestly explain that situation.
When you work with a legal professional, you get someone who is highly experienced in bankruptcy matters and the small details that will make the process easier. Contact us and learn the benefits of a Chapter 13 bankruptcy lawyer in New Jersey. Your lawyer will be available to you at all times to answer any questions you have.