With a chapter 13 bankruptcy, you can succeed in consolidating and resolving debt problems without going through the full liquidation of some other forms of bankruptcy. However, these types of processes work best with some attention to the principles and strategies that will provide everyone with the best results. Here are some pieces of advice that generally stand debtors in good stead as they struggle with financial difficulties related to a chapter 13 procedure.
Commit to Budgeting
One of the essential parts of the chapter 13 bankruptcy is a payment plan to satisfy creditors over time. So that means when the initial planning is done, it’s important that payments are made on time, and everything flows like clockwork. The chapter 13 involves concessions to the person carrying the debt, and committing to the process is the compromise that allows these plans to move forward well.
It’s also an excellent idea to seek any kind of credit counseling or similar education program.
As a legal process, chapter 13 bankruptcy or any kind of bankruptcy is part of our legal system. It’s a commonly known reality among professionals that seeking various types of education and consultative programs can provide a better image to a court. For instance, someone accused of drug and alcohol violations typically benefits from attending drug and alcohol counseling programs. Some of the same sorts of ideas are in play when it comes to financial legal processes – although these processes are different than the ones mentioned above.
Communicating with an Attorney
In bankruptcy, your attorney is your advocate, and it’s important that you communicate with your lawyer proactively. Any snags or hiccups or any major changes should go to your attorney, so that he or she can continue to provide the best representation and advice to you.
With these three essential principles in place, as well as competent legal counsel, you should be prepared to succeed with a chapter 13 bankruptcy. Our professional attorneys will secure the best outcomes for you, and the best accommodations in order to help you to get your finances in good shape. Talk to Hedtke Law Group about the logistics of resolving a debt scenario through a chapter 13 bankruptcy You may find opportunities and alternatives that you didn’t know about, as you exercise your rights under the law. That’s part of our promise to you – that we will be in your corner as you proceed, with your best interests in mind.