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Tips For Successfully Handling Your Chapter 13 Bankruptcy

Filing for bankruptcy is undoubtedly an overwhelming process characterized by stress, uncertainty, and anxiety. It’s important to note, however, that there is life after bankruptcy – if handled correctly, you may find that your bankruptcy is manageable with proper preparation. In this blog, our Rancho Cucamonga bankruptcy attorney shares a few tips on how to successfully handle your chapter 13 bankruptcy.

Master the Paperwork

On average, a bankruptcy petition and repayment plan can be up to 40 pages or more. It will ask for in-depth details on debts, assets, income, expenses, and other facets of your financial history. You want to give yourself time to be thorough and fill out the paperwork correctly. Even forgetting to include the smallest piece of information can come back and haunt you as your bankruptcy proceedings develop and unfold.

Create a Realistic Budget You Can Live With

Filing for a Chapter 13 bankruptcy only works if your budget does. Chapter 13 bankruptcy payment plans are based on the amount of debts that must be repaid and your ability to pay those debts. If you find that your current financial situation is one that is not conducive to a Chapter 13 repayment plan, it may be time to seek other non-bankruptcy options. Keep in mind that Chapter 13 bankruptcy is a process that can take up to five years to complete – you want to create a budget that is sustainable for that period of time.

Hire a Trusted Bankruptcy Lawyer

At Nguyen Law Group, we understand how difficult bankruptcy can be. Our firm has successfully handled hundreds of cases and we make it our duty to walk you through every step of the process. As our client, you can expect that your questions and concerns will always be addressed directly by an attorney – so often we find that people receive the runaround from large corporate firms. We believe you deserve our undivided one-on-one attention.

Nguyen Law Group proudly serves individuals throughout the Inland Empire. Call (909) 328-6280 today to schedule a free consultation.