There are many inquiries you need to make during your first visit to the Chapter 13 bankruptcy attorney in San Jose CA. You were probably referred to the lawyer by a friend or you obtained his/her contacts online or through some other means. Either way, you are now in the firm’s premises and you don’t know where to begin. You have never before filed for bankruptcy and all you know is that it’s some weird form of debt relief.
If these are your concerns, then you need not worry. In no time, all your concerns will be addressed. Some of the questions to ask your Chapter 13 bankruptcy attorney include:
1. What is chapter 13 bankruptcy?
Well, bankruptcy in the United States is governed by federal laws and state laws but mostly by the latter. The Bankruptcy Code is divided into Chapters which highlight some of the different processes of filing for bankruptcy and the remedies to be expected. Chapter 13 bankruptcy is one of these forms. It mainly deals with rehabilitating the debtor through a court sanctioned repayment plan. It differs sharply from chapter 7 bankruptcy which mainly involves liquidation of the assets of the debtor.
2. Does this mean that I have to lose all my assets?
If you are filing for chapter 7 bankruptcy, then you are likely to lose most – if not all – of your assets with the exception of those which are exempted under the Code. But that is not the case in chapter 13 bankruptcy. Your Chapter 13 bankruptcy attorney in San Jose CA will inform you that you can keep most of your assets provided that you settle for an acceptable repayment plan. You don’t need to worry about losing your house or your car.
3. Can all my debts be discharged?
The answer to this question is no. There are certain debts that cannot be discharged by any form of debt relief. These include court fines and liabilities for personal injury. But here is the good news. You can get rid of more debt in chapter 13 bankruptcy than you would in other forms of debt relief. Even financial liabilities such as child support arrears, which are regarded as non-dischargeable, can be discharged when you file for bankruptcy under chapter 13.
4. When will my credit go back to normal?
After all is said and done, your intention is that life goes back to normal. You would like to engage in the occupation of your choice, or purchase property and live a normal life, right? Then you are in safe hands if you engage the services of a Chapter 13 bankruptcy attorney in San Jose CA. A discharge from bankruptcy can be sought after three to five years -depending on how fast you fulfill your end of the bargain as per the repayment plan.
This list is not exhaustive. There are a whole lot of things that you need to inquire from your Chapter 13 bankruptcy attorney in San Jose CA. But with these questions, you are headed in the proper direction. For more information visit Shulman Law Office.
