Anyone can find him or herself drowning in debt. While it may not take place overnight, you need to know that money problems are not something to be ashamed about. The laws provide for willing individuals to pull themselves out and you will have some alternatives at your disposal. If your intentions are to keep your assets and you work on regaining your financial footing, then chapter 13 would be ideal for you. If you wish to file for chapter 13 Salt Lake City Utah is one of the best places to begin the hunt for dependable attorneys.
What happens is that you would be offered a chance to restructure your debts. While this may seem basic, it is actually very complicated and hence the need to work with a lawyer who can defend your rights and provide adequate guidance. The complexity of the system should not intimidate you if you have a competent attorney in your corner.
The first step would involve filing the required paperwork. This is a very delicate process and any mistakes you make could send the whole case crumbling. The filed petition needs to contain descriptions of your debts as well as your assets. In addition, it should come with your tax returns and any major transactions you have made within the past few years. The court will also demand that you go for basic credit counseling and come up with a debt repayment plan within 15 days after filing.
From this point, a creditors meeting will be arranged for within 30 days. A trustee who is court-appointed will sit with you and discuss matters regarding your payment plans. Any concerns will at this point be addressed and there are instances where representatives of your creditors could be present.
If everything goes well during creditors meeting, then within 30 days or so, you will be summoned for the confirmation hearing. This also happens in a courtroom and the bankruptcy judge has to evaluate your most recent proposal. You will also be given a chance to make any adjustments you deem necessary.
The ultimate process that will dictate whether you can have the freedom of your finances will involve honoring your payment plan. The trustee will receive your funds and you may want to ensure that there are no defaulted payments or delays. Keep in mind that subsequent counseling sessions will take place and your payment progress will again be revised.
It is not easy to file for bankruptcy. Navigating the legal maze can be a tricky affair and it would be ideal for you to work with a seasoned attorney. Your specialist of choice will not only guide you through the process, but he or she will also ensure that you have increased chances of having a bearable experience.
Before hiring any legal representative, go through his or her professional history. You want to find out how long the expert has been in practice and how many cases like yours he or she handled the previous year. Most importantly, you must evaluate the success rate of a lawyer before committing to getting assistance.
What happens is that you would be offered a chance to restructure your debts. While this may seem basic, it is actually very complicated and hence the need to work with a lawyer who can defend your rights and provide adequate guidance. The complexity of the system should not intimidate you if you have a competent attorney in your corner.
The first step would involve filing the required paperwork. This is a very delicate process and any mistakes you make could send the whole case crumbling. The filed petition needs to contain descriptions of your debts as well as your assets. In addition, it should come with your tax returns and any major transactions you have made within the past few years. The court will also demand that you go for basic credit counseling and come up with a debt repayment plan within 15 days after filing.
From this point, a creditors meeting will be arranged for within 30 days. A trustee who is court-appointed will sit with you and discuss matters regarding your payment plans. Any concerns will at this point be addressed and there are instances where representatives of your creditors could be present.
If everything goes well during creditors meeting, then within 30 days or so, you will be summoned for the confirmation hearing. This also happens in a courtroom and the bankruptcy judge has to evaluate your most recent proposal. You will also be given a chance to make any adjustments you deem necessary.
The ultimate process that will dictate whether you can have the freedom of your finances will involve honoring your payment plan. The trustee will receive your funds and you may want to ensure that there are no defaulted payments or delays. Keep in mind that subsequent counseling sessions will take place and your payment progress will again be revised.
It is not easy to file for bankruptcy. Navigating the legal maze can be a tricky affair and it would be ideal for you to work with a seasoned attorney. Your specialist of choice will not only guide you through the process, but he or she will also ensure that you have increased chances of having a bearable experience.
Before hiring any legal representative, go through his or her professional history. You want to find out how long the expert has been in practice and how many cases like yours he or she handled the previous year. Most importantly, you must evaluate the success rate of a lawyer before committing to getting assistance.
About the Author:
When you are searching for information about Chapter 13 Salt Lake City Utah residents can visit our web pages today. More details are available http://www.bankruptcyutah.com/about now.
Aucun commentaire:
Enregistrer un commentaire