Chapter 13 Attorney – Why You Need One

If you are going to file the repayment form of bankruptcy, you need a lawyer on your side. A Chapter 13 attorney is almost necessary with this form of bankruptcy. While you can legally file without professional help, you will find it to be very challenging to do so. This type of bankruptcy is very complex and requires an expert’s skill.

One reason that you want help is because of the complexity of filing the petition. While you do not have to worry about exempt property with this form of bankruptcy, you do have to set up a repayment plan that is affordable for you, yet acceptable to the courts and your creditors. A Chapter 13 lawyer can help you with this, and will have your best interests in mind, unlike the courts and trustee, which may side with your creditors or have a non-committal approach to the case.

Sometimes, things will change after you file this form of bankruptcy. Remember, it is a three to five year repayment period. If you lose your job or become very sick during that time, what are you going to do? You may be able to modify your petition to change your repayment plan, and having a skilled lawyer on your side will make it easier to do so. You may even be able to convert to a discharge form of bankruptcy, and having skilled legal help will make that possibility even more of a reality.

This form of bankruptcy requires a lot of negotiating with the trustee and your creditors. Someone with experience handles that negotiation best. You can do it on your own, but you will likely end up with a repayment plan that you simply cannot afford.

There are many variables in these cases. For instance, the value of your property plays a role in how much the courts feel you can afford to repay. Failure to have legal representation can cause some of these variables to swing in your creditor’s favor.

You will have to appear in court before the bankruptcy judge when filing this form of bankruptcy. Having a Chapter 13 attorney at your side will help you feel confident every time you have to go to court. Keep in mind that the average filer has to appear for more than one time.

Finally, having a lawyer on your side ensures that you understand everything about this complex process and have all of your paperwork in on time. This may not sound important, but it is a vital role. Failure to file certain forms on time can lead to a dismissal of your bankruptcy case. Failure to understand the laws can lead to mistakes on your part that could cost you a nice chunk of money or the case. Yes, hiring a Chapter 13 attorney requires a monetary investment, but the benefits are many, and the risks of not having one are great, so find one in your area if you are seriously considering bankruptcy.