Category: Blog

What You Need to Know About Chapter 13 Bankruptcy

Most of our discussions about bankruptcy and debt relief have centered around consultation with a Chapter 7 bankruptcy attorney in San Antonio, Texas. This is because Chapter 7 bankruptcy has become the most common form of bankruptcy filing for people seeking debt relief. However, there are a few advantages to filing for a Chapter 13 bankruptcy instead. Here is what you need to know before you file, according to an expert Chapter 13 bankruptcy attorney in San Antonio.

Why File Chapter 13?

In your quest for debt relief, there are certain advantages to consulting a Chapter 13 bankruptcy attorney in San Antonio. One of the biggest advantages is the fact that a Chapter 13 filing gives you a better chance of keeping your home. Additionally, Chapter 13 offers special protection for cosigners, which means that you may not risk the financial security of friends or family members. Finally, Chapter 13 bankruptcy is often associated with lower monthly payments than other bankruptcy alternatives.

Who Can File Chapter 13?

Anyone can file for Chapter 13 Bankruptcy, even if they own their own business. One of the only hard and fast rules is that you cannot have had a bankruptcy claim dismissed or denied within the past 180 days. There are, of course, certain other qualifications that must be met in order to successfully file for Chapter 13, so your best course of action is to contact a Chapter 13 bankruptcy attorney in San Antonio, Texas to find out what your options are.

Facing down extensive debts that you cannot pay is a stressful experience for anyone. However, there is no reason for you to allow your quest for debt relief to become a hasty Chapter 7 filing. Instead, contact a Chapter 13 bankruptcy attorney in San Antonio, Texas to find out whether or not you are eligible to file for Chapter 13 bankruptcy.

In addition to offering more protection for anyone who may have cosigned with you in the past, Chapter 13 less commonly results in the seizure of your home, and often comes with significantly lower monthly payments. Get the debt relief you so deserve, and call a Chapter 13 bankruptcy attorney in San Antonio today.

Bankruptcy Tips You Should Consider

Bankruptcy is a hard decision, but it is sometimes necessary. Going through this ordeal is easier when you are armed with some good ideas and insights about what is going to be involved.

Make sure that the lawyer you hire is an experienced bankruptcy lawyer. There is a long list of attorneys ready to take your case. Attorney rates can fluctuate and will often reflect the amount of service that you will receive from that attorney. Make sure you feel comfortable and confident with your bankruptcy attorney. You will be dealing with that attorney throughout your bankruptcy process.

Do not delay in filing for personal bankruptcy. If this is the only option that you could take, waiting will only make things worse. Waiting can add to your stress level and will probably only make your financial situation worse. This can have a lot of negative effects on your life. When your monthly bills exceed your monthly income and there is no reason to foresee a change for the better in your financial situation, you can take control of your financial future with the help of the bankruptcy courts.

Don’t put everything on your lawyer’s hands. While your lawyer does have the bankruptcy information, it is still important to stay involved in the process. While it may seem simpler for your lawyer to do everything for you, it is your money that they are dealing with, so you need to stay in control as much as possible.

If you can’t afford to hire a lawyer to handle your bankruptcy proceedings, perhaps you might consider doing everything on your own. Those who do file their own bankruptcy often make mistakes that interfere with their ability to secure a discharge. Be sure you complete everything properly to prevent this from happening to you.

Before making any decisions, seek the advice of an experienced bankrupty attorney. Most will provide a free initial consultation. The Law Office of David T Cain provides confidential and free bankruptcy consultations.