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The Hard Work That Goes Into a Chapter 13 Bankruptcy

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The first few months after you file for Chapter 13 bankruptcy can be very difficult. There is a lot of work that needs to be done after the filing and the debtors can be very unreasonable. However, with a bankruptcy attorney, you could enjoy an easier process.

1. Make Certain Necessary Payments

There are various payments you will still need to make while you are filing for Chapter 13 bankruptcy. For example, you will need to continue making child support payments. If you end up behind on your child support, you will not be able to discharge your debts. You must also provide that you are current on your child support payments.

When you are staying in your home, you will need to make your mortgage payments on time. Also, you may not receive a statement from the mortgage company and they will not want to talk to you on the phone to avoid violating the automatic stay. With each payment you make to the mortgage company, you will want to keep a statement as proof.

2. Fully Fund the Chapter 13 Bankruptcy

Your employer will automatically deduct from your salary to make the regular payments, but you will also need to make payments early on because the automatic deductions do not kick in until a few weeks have passed. If you do not send money to the trustee and there is a delinquency, your case will not be confirmed.

3. Address Your Tax Returns

You must send your tax returns as soon as possible. If you have not filed a tax return in many years, you will want to make sure that those tax returns are filed. Your Chapter 13 will not be confirmed if you have unfiled tax returns. 

4. Work with Your Attorney for the Best Possible Plan Payment

With a great plan payment, you will not have to pay anymore than you have to. Most likely, the trustee or the creditors will object to the payment plan and you may need to raise it somewhat. However, an experienced attorney can help you reach a better financial position.

Because there is so much that needs to be done, a bankruptcy lawyer can be very helpful. Not only will they give you advice on how to best file for bankruptcy, but they will also help keep you on track so you do not forget every essential step of the bankruptcy process.