Chapter 13 Bankruptcy

31 Aug 13 Ways To Maximize Your Chances For Chapter 13 Bankruptcy Success

You file for Chapter 13 bankruptcy for a variety of reasons: to save a home, car or other property; to reorganize your finances; to account for income that's too high to qualify you for a Chapter 7; because it's better for your individual situation. Whatever your reason, you deserve to succeed. There's a long road involved in a Chapter 13 bankruptcy. With your Plan lasting 36-60 months, you're going to get to know your lawyer pretty well. You may not speak that often, but there have got to be open lines of communication in order to make things run smoothly. From the lawyer's side, a Chapter 13 bankruptcy involves not only thorough review of your financial information and meticulous preparation of the court documents, but also a keen eye to red flags. Confirmation, any good Chapter 13 lawyer will tell you, is in many ways the beginning rather than the end. But what about your responsibilities? It's a two-way street, after all.
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29 Aug Bankruptcy Petition Schedules Reveal Your Basic Information

Filing a bankruptcy petition is a process in which you disclose important information about your assets, your debts and your income and expenses. Anyone looking at your petition can usually see all they need to know about your financial condition by studying your bankruptcy schedules. Who will be looking at your bankruptcy schedules? Your bankruptcy petition is public information, accessible and available for anyone to view. Usually, however, the only ones who will study your schedules include the trustee assigned to your case, the United States Trustee’s office, and any creditors who care to.
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07 Aug Bankruptcy and a Motion To Suspend

A Chapter 13 bankruptcy is a bankruptcy where you can adjust your debts and "keep your stuff" as one trustee says. During the lifetime of the Plan you might fall behind on the payments that you have agreed to make to keep your stuff. When this happens a Motion to Suspend the Plan payments can prevent your case from being dismissed while bringing the account current. However, it is not like winning the lottery as some debtors believe because there are restrictions and repercussions to filing a Motion to Suspend. Your Plan can only last 60 months and generally you can never fall behind more than two months worth of Plan payments before a Motion to Dismiss is filed in your case.
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