Firstly, you should know that a bankruptcy is not something to be taken on alone. You need an experienced bankruptcy attorney in your corner to watch out for your interests and help with any problems that may crop up along the way. So, if you have any specific bankruptcy questions, we encourage you to contact an attorney.
However, if you do intend to go through the process without help, you will need to know these 7 things about bankruptcy court:
- The devil is in the details. You will have a lot of deadlines to hit and specific rules to follow. If you accidentally miss a deadline there is no “do over”, you will most likely lose your filing fee and have to start the process over.
- The bankruptcy law was changed in 2005 because people were taking advantage of the ability to wipe out all debt. It is now much harder to qualify for Chapter 7 bankruptcy so more people are forced to file for Chapter 13 bankruptcy.
- In Chapter 13 bankruptcy a repayment plan will be drawn up by the court. The court will take all your finances into account then decide how much you can repay per month. The plan is then filed with the court.
- Bankruptcy courts are located around the United States and they only concern themselves with bankruptcy matters. If you bring anything to them outside of a bankruptcy they will not consider it.
- An attorney can act as a buffer between you and your creditors during the bankruptcy. Once they have been informed that you have legal representation, they are only allowed to speak with you through your bankruptcy attorney.
- Lying or accidentally misrepresenting facts is dangerous in a bankruptcy proceeding. If the court finds out, they can dismiss the case, levy fines and penalties or even have criminal charges filed against you.
- In a bankruptcy the court will assign a Trustee to oversee your case but they are not on your side or on your creditor’s side. They are an officer of the court.
Don’t face your bankruptcy alone. Let one of our professional attorneys at C. Golden & Associates handle all the stress and minor details for you so that everything is properly handled the first time. Call 770.220.7220 today to schedule an appointment.