The decision to file bankruptcy usually comes after an extended period of financial stress. As difficult as this decision is, most individuals breathe a sigh of relief once it has been made. This is usually because filing bankruptcy means freedom from debt and a fresh financial start. However, for filers of Chapter 13 bankruptcy, the relief is not immediate and requires careful consideration and proper planning. Chapter 13 bankruptcy does alleviate the stress and financial struggle associated with debt, but it is a highly complex and involved process that usually requires the help of an experienced bankruptcy attorney.
Chapter 13 bankruptcy offers filers a way to restructure their debt so that it is more manageable. This restructuring process requires that filers make timely payments for several years, with the success of their discharge hinging on the completion of these payments. Like Chapter 7 bankruptcy, there are several confusing aspects to a Chapter 13 restructuring that if not done correctly, may slow, or even stop an individual’s path to financial freedom. These common mistakes can be avoided by working closely with a bankruptcy attorney. With their help, the process of filing a Chapter 13 restructuring bankruptcy can be made easier and relatively stress-free.
The decision to file bankruptcy is a big one. The last thing filers want to see happen is their bankruptcy petition be dismissed because of inaccuracies and errors. An experienced attorney knows bankruptcy law inside and out and can help filers stay on task and avoid these mistakes. They may also be able to offer filers valuable advice on how to apply every benefit bankruptcy law offers to their case and their property.
For help with the complex process of a Chapter 13 restructuring bankruptcy, struggling individuals should consider speaking with an experienced bankruptcy attorney. With their help, individuals can stay informed during the bankruptcy process and can look forward to financial stability and freedom from debt.