Filing For Chapter 13 Bankruptcy DIY
Under Chapter 13, the debtor plans to actually pay his creditors over a period of three to five years. During which, his creditors cannot attempt to collect the individual's previously incurred debt except through the bankruptcy court. The person keeps his property and its creditors get less money than they are owed.
The decision to file for chapter 13 bankruptcy is never an easy one,
let alone deciding to go through the process without the aid of an experienced chapter 13 lawyer. If you must go through the process alone, there is a lot you will need to know. Everything involved in a bankruptcy is time sensitive, and those filing must adhere to various schedules and regulations. In this article, we will outline the process of filing for bankruptcy DIY style.
Step 1: Obtain the necessary forms pertaining to the filing of a chapter 13 bankruptcy. Each form is required to properly file. You can download forms online or obtain them through the courts, though many people simply opt to go the online route in order to save time.
Step 2: Complete each form according to the specified directions attached. Forms should be filled out in order and be completely accurate. Save copies of each file to your computer in order to make the rest of the process easier. This will also allow you to file electronically if desired.
Step 3: If you have chosen to file electronically, begin doing so. If the forms have been downloaded, you should have them saved to your hard drive in order to extract the required information from each file to the corresponding files online.
Step 4: Employ the help of a credit counselor with your first session. During your meeting, you will be asked a series of questions and asked about various information regarding debts. Payment will be required after completion of the session. If you are using an online credit counselor, you will then have a brief phone meeting. Print out your certificate number and retain it for future court appearances.
Step 5: Take the time to review any and all information obtained from the Trustee in regard to your case. Follow all instructions and retain as much information as possible. Attend each court appointment and follow any instruction the Trustee gives you. The information provided will detail your payment plan.
Step 6: Follow through with your final credit counseling session. The appointment takes roughly an hour. Pay your fee, print your certificate number, and provide this information to the proper channels. A letter will be sent to you outlining where to send the information. Be sure to be prompt in sending.
Step 7: After you've filed, you will receive the final documents through the mail. Pay your monthly payments and do as you're told. Any questions you may have can be answered by your Trustee.
