Life After Filing Chapter 13 Bankruptcy
Chapter 13 Bankruptcy gives you an opportunity to pay arrearages for your home, car, furniture or other secured debts and it allows you to have a repayment plan for your unsecured creditors. If you are currently in a Chapter 13, it is important for you to know that your attorney's realize 'life happens' which can upset your financial obligations. People can lose their jobs, get divorced, have major car trouble, damage to their home, illness and so on. In order for your Chapter 13 case to be successful it is necessary for you to keep in touch with your attorney when the going gets tough. There are different kinds of remedies that may be available for you to keep your Chapter 13 case afloat. It is important that you follow your attorney’s instructions closely and make sure that your payments to the Chapter 13 Trustee are made timely and consistently. If this is going to be a problem then you should address it with your bankruptcy attorney in order to find a solution before your case spirals downward. If you fail to make your Chapter 13 payments your case could get dismissed and this could put your assets in jeopardy. During the three (3) to five (5) years of your bankruptcy, you must keep your attorney informed. Having a positive attitude helps when dealing with bumps in road that come your way. Falling behind on your Chapter 13 payment or being in a tight situation doesn’t mean you should give up on your bankruptcy. There can be setbacks but if you reach out for help there may be a solution for you.