Chapter 13 Bankruptcy Do’s and Don’ts
Published 08/07/20 by Admin
After reviewing your monthly income and the payments that you need to make each month or the collectors you owe, you might decide that bankruptcy is the best option for your situation. Before filing Chapter 13 bankruptcy, contact Barr Jones & Associates to discuss the details of what to expect when completing the paperwork and what to expect in the future regarding making purchases and keeping your personal belongings. Once you’ve learned the basics of Chapter 13 bankruptcy and you’ve talked to bankruptcy attorneys Columbus OH offers, try not to make any monetary transfers or any transfers that involve property. This could result in the transaction being canceled by the trustee assigned to your case by the court.
When meeting with a bankruptcy attorney Columbus Ohio offers, you should report as many details about your finances as possible. In the event that you’ve made a significant purchase, then you might want to file bankruptcy at a later time so that your credit score isn’t impacted as greatly as so that there is a decreased risk of losing the items that you’ve purchased. Make a list of all of your expenses and income, giving the details to bankruptcy attorneys Columbus Ohio has available so that you can maintain proper records throughout the overall process.
If you make payments on something before the bankruptcy process is complete, you need to let your attorney know the amount and where the payment was sent. Avoid picking and choosing the people you make payments to as the court usually wants you to pay down your largest debts first. Your trustee can work with you and your attorney to ensure that any money that has been paid is received by the office so that it can be properly distributed in a balanced manner, reflecting in a positive way on your credit.