Questions to Ask a Chapter 13 Attorney

A Chapter 13 attorney can provide you with the help you need to make one of the biggest decisions of your life. Take a few minutes to consider if this is the right decision for you. If so, book a consultation with a professional to find out if this is something you can and should do for your own benefit. Of course, you do not have to make a final decision before seeking out aid from a lawyer to discuss if this is the best option available to you. Rather, you should invest the time necessary in making sure you make the best possible decision for your needs.

What You need to Know

There are many decisions you can make on your own, but a Chapter 13 attorney is a resource that is going to answer many of your questions without forcing your decision. You can get the answer to the questions you have by simply talking to these professionals about your options and your needs. The following are some of the most important questions to answer before you make the decision to file.

-Is this the best form of bankruptcy for you to file? Those with little assets and large amounts of debt and who are under the average income in the state may be better off filing under Chapter 7, total liquidation.

-What will happen to your home if you file? In many cases, this puts a freeze on any creditor trying to foreclose, if that is occurring. However, you still need to find a way to negotiate a better rate or a lump sum payment to get the debt caught up.

-What will this do to your credit in the long-term? What about the short-term implications? You should fully understand what is going to happen to you during the three to five years that it takes to work through this process.

-What should you expect to happen if your income increases during this period? What should you expect if your income falls during that timeframe? Is it possible to pay it off early?

-What if you cannot continue to make the required payments as are a part of this form of bankruptcy? You should understand the repercussions of this process.

There are likely many other questions that you are struggling to know the answers to, and a consultation is the perfect time for you to ask them. A Chapter 13 attorney will discuss the process with you at length, and provide you with a range of different options. He or she has the job of advising you on what is best for your future.