How to Make Sure You Are Doing Your Chapter 13 Bankruptcy Filing Right
When you have been advised by your lawyer to file for Chapter 13 bankruptcy, the next few steps are crucial. It is important to ensure that you follow the due procedure of filing for bankruptcy. This will ensure smooth completion of the Chapter 13 bankruptcy filing process which many think is complex and cumbersome.
What Are The Mandatory Requirements?
Before you file for the Chapter 13 bankruptcy case, you have to do a few things. This includes completing the official paperwork as stated by the local bankruptcy laws. When you file a Chapter 13 case, you must provide ample proof to the court that you have the income needed to meet your monthly household obligations and comply with the agreed repayment plan. You are unlikely to get approved for Chapter 13 if your income is irregular or too low.
By using the services of the top chapter 13 bankruptcy lawyer northern Virginia, you can improve the chances of success in filing for bankruptcy. Experienced lawyers specializing in bankruptcy laws will know how to deal with the challenges that people generally face while filing for bankruptcy under this chapter.
When Does The Recovery Action Stop?
If your bankruptcy petition and other forms needed to complete the process, meet the approval of the authorities, you can heave a sigh of relief because, from this point onwards, the automatic stay effect comes into play. It immediately stops the action in the civil lawsuits filed against you. It also prevents all collection actions from being initiated against you by your creditors, collection agencies, or even the government.
When you have the support and chapter 13 bankruptcy lawyer northern Virginia, you can move ahead with confidence and ensure that the filing process is being completed effectively. On successful completion of the procedure, the court will appoint a trustee to oversee the case. This will be made official through a notice stating the appointment of the trustee and the details thereof.
Why You Need an Experienced Lawyer
Your chapter 13 bankruptcy northern Virginia lawyer will keep you updated about the various developments happening right through the bankruptcy filing process. The next step involves sending a Notice of Chapter 13 case by the court to you and your creditors. It will contain general information about Chapter 13 bankruptcy such as the date of the scheduled meeting of creditors, the deadline for filing claims by the creditors, the date of the confirmation hearing, and so on.
You must be aware of the fact that your creditors can object to your bankruptcy plan. The same must be expressed to the court through written objections and this must be done at least 25 days before the confirmation hearing. You are required to provide a set of documents that establishes your bankruptcy status and also your ability to follow the obligations of Chapter 13 bankruptcy. These include your latest tax return documents and other papers relevant to the case.