Filing for bankruptcy can be a stressful time and one where you may not want to admit any sort of defeat, but are unfortunately pressed in to doing so. While ultimately the extreme burden of harassment from creditors and overwhelming debt will be eliminated, it’s still a process that’s going to be mentally and emotionally draining, and not to mention it will stick with you for several years to come. One way to possibly make the process a bit easier on yourself is to file for chapter 13 bankruptcy, something for which you’ll need an attorney. This type of bankruptcy allows you to retain a little bit of pride in being able to repay at least part of your debts, and you can feel somewhat better about yourself when doing so.
You are of course going to want to know what an attorney is going to do for you during this process. When filing chapter 13 bankruptcy, there are some things you’re going to need to be aware of, such as the sort of debts you have and what can and cannot be covered under such a filing. A good attorney will be able to help you sort these issues out and explain to you what can be covered under this type of bankruptcy. You’ll need to provide your attorney with a list of all of your debts. Since chapter 13 is considered a repayment plan rather than a total elimination of your debts, more debts can be covered under this. Debts such as child support that is in arrears can be covered here, whereas it would not be covered under chapter 7. If you make a substantial enough amount of money to support a repayment plan, this is likely going to be the best way to go. Your repayment plan will be structured so that you will have anywhere from three to five years to pay off the debts.
A chapter 13 bankruptcy attorney is really no different than any other sort of bankruptcy attorney. He will be able to handle other types of bankruptcy filings as well, and will be able to tell you which plan he feels will work best in your situation. In the case of a chapter 13, he will be the one to help structure the repayment plan for you, which is based on your income and how much debt you’re in. And while chapter 13 is still a bankruptcy and will affect your credit, it does not remain on your record as long as a chapter 7 would and it shows that you’re making an effort to repay the money you owe. Your bankruptcy attorney will be able to explain it all to you in great detail as they walk you through the process and help you manage your debt.
Are you in need of a chapter 13 bankruptcy attorney in Milwaukee, WI? Contact Credit Solutions, SC to speak to an attorney today! For more information, visit them online!
