Savannah Bankruptcy Lawyer: What Is Chapter 13 Bankruptcy?
Your Savannah bankruptcy lawyer has discussed your options with you and you’re leaning towards Chapter 13 bankruptcy. What exactly does that mean? Most people, if not all, who see a Savannah bankruptcy lawyer wish they didn’t need to consider filing at all. Unfortunately though, many of us are in situations where we need to turn to a bankruptcy lawyer for advice and guidance because there just is no other way to solve the situation. There are different options for bankruptcy, including Chapter 13 bankruptcy, which is what we’ll be focusing on within this article.
A visit with a Savannah bankruptcy lawyer should be the last alternative for anyone in a financial bind. Once you file for bankruptcy, it can take up to ten years for it to be removed from your credit record. This means it will be challenging for you to get any new loans or credit. In addition, it will show up anytime you try to secure a new home, apartment, or job. If you are considering bankruptcy, be sure to consult with a bankruptcy lawyer and consider the following information to determine if bankruptcy is needed in your particular situation.
Chapter 13 bankruptcy requires you complete credit counseling before filing, and your bankruptcy lawyer can guide you on the timing and process. Your bankruptcy lawyer will guide you in how to go about getting credit counseling and in addition, should be able to provide resources for you to use.
Chapter 13 bankruptcy means you’ll get to keep your home and assets. While you and your bankruptcy lawyer work out a repayment plan for your debts, you’ll get to keep your assets. However, you do need to continue to make the payments on these assets throughout the bankruptcy proceedings.
Can a friend or relative help you out for a period of time during this financial struggle? Again, when you sit down with your bankruptcy lawyer, this is another question to consider. Though most of us would prefer not to ask for help in a situation like this, sometimes we need to let go of our embarrassment and ask. But, if it’s not an option, then you and your bankruptcy lawyer can begin to look at the right bankruptcy options for you, unless you come up with another solution.
Are you able to work with the Savannah bankruptcy attorney you’re considering? You may be spending a lot of time with this individual, so be sure to go into a detailed interview process with the potential candidate to represent your case. You want to work with someone who’s truly on your side and has your best interests in mind when representing you.
These are just some of the highlights of Chapter 13 bankruptcy, but each case has unique circumstances. It’s important to do your own research and also work with a good Savannah, GA bankruptcy lawyer to ensure you’re making the right decisions when entering into and going through Chapter 13 bankruptcy. You don’t need to go it alone, nor should you; it’s not a wise decision for you to attempt to do so. Good luck!
Want to find out more about savannah bankruptcy, then visit Mike Lewis’s site on how to choose the best savannah bankruptcy attorney for your needs.