The role of any bankruptcy attorney is to analyze the debt obligations of the debtor and assess what is the best financial course of action for the debtor. The attorney will review a potential Chapter 13 case and determine if a Chapter 13 bankruptcy case is a feasible alternative for the debtor. They will also determine whether a single or joint filing is appropriate.
The bankruptcy attorney will then ensure that the debtor competes the necessary pre-bankruptcy requirements. The attorney will assist the debtor in obtaining pre-bankruptcy budget briefings and mandatory credit counseling. In the aftermath of the counseling, the attorney can help the debtor create a budget.
A Chapter 13 bankruptcy attorney will also evaluate secured creditors’ liens and security interests to determine whether they are valid or whether they can be avoided. The attorney will also create a way to handle these secured creditors.
One of the attorney’s biggest tasks will be helping the debtor develop a Chapter 13 plan. The Chapter 13 plan is significant because it will dictate the schedule which the debtor must repay his or her debts. If the debtor does not repay the debts according to schedule the bankruptcy may be dismissed and the debts will be immediately due. As a result, it is important that the attorney devises a plan that is suitable for the needs of the debtor client, and is acceptable to the court.
Preparing the required bankruptcy forms and filings seems like an easy task, but given the strict bankruptcy rules, it can be complex. An experienced and qualified bankruptcy attorney will assist the debtor in completing the forms according to the appropriate rules to ensure that the bankruptcy is filed properly without any unnecessary delay.
The attorney will also make sure the appropriate Chapter 13 forms and pleadings are filed with the court, in a timely fashion. Along with filing documents with the court, the attorney will attend the meeting of creditors and any other court hearings which are required in the particular case.
If the plan provides to strip a lien or junior mortgage, the attorney will prepare the appropriate motion and seek court approval.
Additionally, the attorney will aid the debtor in gaining approval of a Chapter 13 plan, negotiating with the Chapter 13 Trustee and/or creditors to resolve any objections and obtaining a discharge upon the completion or termination of the plan.
Proposing a workable Chapter 13 plan and getting it confirmed by the Court is a complicated process with several pitfalls for the inexperienced. Very few people who have never been through the process are able to handle everything on their own. You should always have the help of an experienced bankruptcy attorney if you plan to help you put together an appropriate plan. Fortunately, because a Chapter 13 case includes a payment plan, you can usually pay most of the costs through the plan and spread out the attorney fees over 36 to 60 months. This often means that the upfront costs of filing a Chapter 13 case are less than for a Chapter 7 filing.
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