Essential Steps Your Legal Advisor Wants You To Take When Applying For Chapter 13 Bankruptcy

A successful chapter 13 bankruptcy application starts by employing the right success tactics. For this reason, you might want to consult a bankruptcy lawyer for assistance. They will advise you on what to do and avoid during the application procedure to ensure a smooth process. Here are some essential steps to ensure a seamless application process. 

Seek Legal Assistance from a Legal Practitioner

Choosing the wrong chapter might worsen your situation, especially if your creditors have already started threatening to take legal action against you. For that reason, it would help if you considered getting legal advice before beginning the application process. Your lawyer will evaluate your case to determine whether chapter 13 will offer the relief you need or if another bankruptcy type will work better. 

Essentially, they will recommend chapter 13 if you have not managed to make your mortgage payments for a while. Additionally, this chapter is preferable if you're not eligible for chapter 7, which comes with an income limit. Chapter 13 bankruptcy is also suitable if you have too many debts that might not be dischargeable.

Provide the Right Information and Documents

Your lawyer will ask you for essential information to prepare a strong application. You should provide them with the correct details when they ask you how much you earn, the assets you own, and the amount of money you owe. Besides that, your bankruptcy attorney needs your tax returns, income documents, and other official papers giving details about your financial status. They will examine these documents before submitting them to the court along with the application. In addition, these documents enable your attorney to approximate your payments and create a repayment plan.

Take a Credit Counseling Course

Bankruptcy trustees only approve applications of those who meet all the requirements. Therefore, you must ensure that you have taken all the measures recommended in law before applying for bankruptcy. For instance, you must have completed a credit counseling course from an institution that has been evaluated and approved by the treasury department. Failure to provide a certificate proving that you have completed the course could lead to a disapproval of your application.

A single mistake when filing for chapter 13 can blow your opportunity to wipe out your debts. Therefore, your lawyer will want you to take the right measures during your application. For instance, they will ask you to take the steps above since they will boost your chances of qualifying once you render the application.

Reach out to a firm like the Martinez Law Firm to learn more.