Chapter 13 bankruptcy is a type of bankruptcy that allows individuals to restructure their debts and create a payment plan to repay their creditors over a period of three to five years. This form of bankruptcy gives individuals the opportunity to Press The Restart Button and get back on track with their finances. While it is possible to file for Chapter 13 bankruptcy without an attorney, it is highly recommended that you seek the guidance of an experienced Orlando bankruptcy attorney. In this article, we’ll explore the role of an Orlando bankruptcy attorney in Chapter 13 bankruptcy cases.
Assessment of Financial Situation
The first step an Orlando bankruptcy attorney will take is to assess your financial situation. They will review your income, expenses, assets, and debts to determine whether Chapter 13 bankruptcy is the right option for you. If it is, they will help you prepare and file the necessary paperwork.
Creation of a Repayment Plan
The creation of a repayment plan is one of the primary duties of an Orlando bankruptcy lawyer in Chapter 13 bankruptcy proceedings. This plan will specify how much and to whom you will pay each month. Based on your income and spending, your lawyer will work with you to develop a realistic and affordable plan.
Negotiation with Creditors
Your Orlando bankruptcy attorney will also negotiate with your creditors on your behalf. They will work to get your creditors to agree to your repayment plan and may even be able to negotiate a reduction in the amount you owe.
Representation in Court
If you file for Chapter 13 bankruptcy, you will be required to attend a meeting of creditors. Your Orlando bankruptcy attorney will represent you at this meeting and ensure that your interests are protected. They will also represent you in court throughout the bankruptcy process.
Ongoing Support and Guidance
Finally, an Orlando bankruptcy attorney will provide ongoing support and guidance throughout the Chapter 13 bankruptcy process. They will answer any questions you have, provide advice on how to manage your finances during the repayment period and ensure that you comply with the terms of your repayment plan.
To sum up, an Orlando bankruptcy attorney plays a crucial role in Chapter 13 bankruptcy cases. They will assess your financial situation, create a repayment plan, negotiate with your creditors, represent you in court, and provide ongoing support and guidance. If you’re considering filing for Chapter 13 bankruptcy, it’s important to seek the guidance of an experienced Orlando bankruptcy attorney to ensure the best possible outcome.