If you're planning to talk with an attorney at a Chapter 13 bankruptcy law group, it's a good idea to understand how the filing process is likely to work. A Chapter 13 bankruptcy lawyer will want their clients to know these 5 things about the system.
Restructuring vs. Liquidation
The central idea of Chapter 13 is restructuring a filer's debts. If someone has a reasonable income but an unreasonable debt load, they have the right to ask the court to restructure what they owe.
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Filing for bankruptcy is a major financial decision that holds the possibility of providing you with substantial debt relief. However, this complex process can also serve to worsen your financial situation if you do not navigate the process successfully. That is why it is so important for you to hire a bankruptcy attorney to represent you in these proceedings. Below you will learn more about the services you can expect these legal professionals to provide all the way from the start of the bankruptcy process up until its conclusion.
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