People associate bankruptcy law with negative images that they tend to forget its actual purpose. The first and most important thing is that it can protect you from harassment by creditors. Secondly, it can provide relief from some, or sometimes, all your debt obligations.

Filing for bankruptcy helps get your finances in shape. However, it can be challenging to navigate the process by yourself. While you can file the case without the assistance of a legal professional, consider hiring Kingston family lawyers to handle your case.

Who is a Chapter 13 Bankruptcy Attorney?

Kingston Chapter 13 Bankruptcy attorneys are skilled, licensed, and experienced in providing legal representation on bankruptcy matters. They also guide the client and prepare legal documents for them. As your guide in your bankruptcy case, your lawyer will advise you on issues such as:

  • How the bankruptcy process works
  • The kind of debts that can be eliminated or reduced
  • Whether you should file for bankruptcy
  • Which type of bankruptcy to file
  • Whether you’ll retain your home, car, or other assets after the bankruptcy case is over

Overall, it’s the responsibility of the bankruptcy attorney to steer you in the right direction. A lawyer should help you avoid mistakes that may cost you more in the long term.

What Types of Bankruptcy Are There?

The United States Bankruptcy Code outlines six types of bankruptcy. These are Chapters 7, 9, 11, 12, 13, and 15. However, when you’re filing for bankruptcy as an individual, your case will fall either under Chapter 7 or Chapter 13.

What is Chapter 7 Bankruptcy?

Chapter 7 is about liquidation bankruptcy and can enable you to wipe out all debts. The option suits you if you cannot meet your monthly debt obligations. The court will appoint a trustee to sell your assets or liquidate them for cash and pay off your creditors to absolve you of your debt responsibility.

A Kingston Chapter 7 bankruptcy attorney can fight to have some assets like your car and household furnishings exempted from the sale.

What is Chapter 13 Bankruptcy?

A Chapter 13 bankruptcy case, also known as a repayment or wage earner’s plan, entails getting approval from the court for a three-to-five period repayment plan. This option could enable you to retain assets you may lose in a Chapter 7 case. Once you pay up all the debts, you’re no longer responsible for them. Ensure you make all your debt payments on time if you’re on a Chapter 13 payment plan.

What Can I Expect from a Tennessee Chapter 13 Bankruptcy Attorney?

When you hire a Chapter 13 Bankruptcy attorney serving Kingston and Crossville, you should expect them to:

  • Offer you sound legal advice: At the bare minimum, the retainer agreement between you and your attorney should outline the services provided by your attorney. They also must provide you with competent advice throughout your bankruptcy case. Most importantly, your lawyer should be able to provide you with answers to your questions and promptly respond to your emails and calls.
  • Prepare and file your paperwork: When filing for bankruptcy, there’s a lengthy paperwork process involved. Most bankruptcy lawyers have specialized software for preparing files and all the necessary paperwork. Ensure you avail all the financial information associated with your case, including debt information, assets, expenses, and income.
  • Represent you during hearings: After filing for bankruptcy, the law requires all debtors to attend a mandatory hearing known as the 341 meeting of creditors. Depending on your case, you or your lawyer may have to participate in additional hearings.
  • Provide regular updates: You and your lawyer should agree on how often they’ll update you about the case and furnish you with all the documents necessary for your bankruptcy case.

Do I Need a Tennessee Chapter 13 Bankruptcy Lawyer?

Filing for bankruptcy is usually not the first option in resolving your financial situation, but it can be an excellent solution in most cases. The downside is that it can damage your credit for seven to 10 years, an obstacle to getting a security clearance.

However, if you cannot resolve your financial situation in less than five years, filing for Chapter 13 bankruptcy is a suitable option to give you a fresh start in handling your finances. If you choose to, you can represent yourself in your bankruptcy case, but the decision depends on your situation.

Remember that your odds of getting a favorable outcome are better when you have a professional Kingston debt collection defense attorney to represent you and handle your case. Filing for a bankruptcy case alone can remain on your credit report for as long as seven to 10 years.

When Should I Hire a Chapter 13 Bankruptcy Attorney?

Some situations when you need to hire a bankruptcy attorney to help you in your case are:

  • You’re not confident about representing yourself in the bankruptcy case
  • The paperwork is too much for you to handle. Incorrectly filled paperwork can jeopardize your bankruptcy case
  • You’re tired of hearing from debt collectors and want them to deal with your attorney instead.

If you can’t afford to hire the services of a bankruptcy attorney, you may seek free legal assistance and check if you qualify where you live.

Experienced Tennessee Chapter 13 Attorneys Helping You Secure Your Future

Financial instability and distress don’t happen overnight but progress gradually with several flare warnings. When you ignore the signs, your financial situation deteriorates, leaving you in a difficult situation where you must declare bankruptcy.

If you decide to hire a Chapter 13 Bankruptcy lawyer in Tennessee, check to see that you pick one who’s reputable, skilled, and experienced. Filing for bankruptcy is a crucial decision, and an experienced Kingston debt collection defense attorney will advise you on what to do and avoid. Schedule a free initial consultation with us, and let us assess your situation to help you move forward.