Mistakes That Can Slow Down Your Chapter 13 Bankruptcy

When you are filing for Chapter 13 bankruptcy, you will want to get started as soon as possible. If you put your Chapter 13 bankruptcy off, you might discover that your debts have become much larger than you might expect as the effects of interest continue to accumulate. However, there are several mistakes that can easily cause delays.

Don't Delay When Getting Credit Counseling

You will need to complete a credit counseling course before you are allowed to file for Chapter 13 bankruptcy. If you delay when taking this course, you will have to wait longer before you can begin your payment plan.

Don't Do Anything Suspicious

You might want to transfer your assets out of your name, but this is not necessary. Under Chapter 13 bankruptcy, you are allowed to keep your assets. Also, do not take on any debt within 90 days of filing. Any suspicious activities you engage in can cause the courts to dig more deeply into your activities.

Don't Bother Mailing Out Notices

You don't have to waste time mailing notices to your creditors because they will receive notices automatically. Instead, you will want to honestly answer any questions that your creditors ask. If you later find out that a credit card company has not received a notice, you can send them information regarding your Chapter 13 filing.

Don't Lie During the Means Test

In many cases, you will be able to file for Chapter 13 bankruptcy. But even if you are not able to, there will other options available to you. However, if you are not honest during the means test, you may not be able to file for bankruptcy on those particular debts as your bankruptcy is thrown out. You will also not want to omit any sources of income because you might otherwise risk having your case dismissed.

Don't Forget to Speak with a Chapter 13 Attorney

When you are trying to file for bankruptcy on your own, it's easy to become confused. You will instead want to seek help from an experienced Chapter 13 bankruptcy attorney who can do much of the work for you. 

The worst way to waste time when filing for bankruptcy is to choose bankruptcy when there are other options available that are better. Your Chapter 13 bankruptcy attorney can advise you on whether you should consider a different form of bankruptcy or whether there is a better form of financial relief.

For more information, contact a company like Ozment Law PA.

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