Six Things You Shouldn't Assume When You Hire A Chapter 13 Bankruptcy Lawyer
Filing for bankruptcy is stressful. However, hiring the right chapter 13 bankruptcy lawyer can make you see that bankruptcy is not the end of the world. The following are six things you shouldn't assume when you hire a chapter 13 bankruptcy lawyer.
You can't qualify for chapter 13 bankruptcy filing
There are some chapter 13 debt limits that your lawyer will make you aware of when you have a consultation about filing for bankruptcy. However, these debt limits are not an issue for most consumers. The chapter 13 bankruptcy debt limits are high enough that the vast majority of consumers don't exceed these amounts with their debt.
Your lawyer won't be able to save your house when you file for chapter 13 bankruptcy
Consumers filing for chapter 13 bankruptcy are often worried about losing their house. If you hire a good chapter 13 bankruptcy lawyer, you may be able to get through your bankruptcy filing without losing your house.
It's easy to file for chapter 13 bankruptcy without a lawyer
You should be aware of the fact that filing for chapter 13 bankruptcy generally involves a lot of paperwork. If you've never filed for bankruptcy before, you may not know how to correctly fill out the paperwork that you need to file. That's why it's so important to hire a chapter 13 bankruptcy lawyer.
Everyone in your life is going to find out that you've filed for chapter 13 bankruptcy
Consumers are often embarrassed about their chapter 13 bankruptcy filing and worry that their colleagues and friends will find out about it. However, no one typically finds out about it when a consumer files for chapter 13 bankruptcy except for that consumer's creditors.
Your chapter 13 bankruptcy lawyer won't be able to protect any of your property from repossession
Bankruptcy laws differ by state. In many states, there are legal protections in place for consumers that file for chapter 13 bankruptcy that protect possessions like vehicles, retirement accounts, and much more. That's why you shouldn't think that you'll lose everything in your chapter 13 bankruptcy filing.
You have no financial future after filing for chapter 13 bankruptcy
Filing for chapter 13 bankruptcy will negatively impact your credit for a while. However, bankruptcies never stay on your credit report forever. In fact, a chapter 13 bankruptcy lawyer may be able to make it so that your bankruptcy filing limits your borrowing potential for a much shorter period of time than you expected.
Contact a local chapter 13 bankruptcy lawyer to learn more.