Finding a reliable lawyer to work with who can represent your company no matter what kind of legal issues it faces in the coming years can be ovrewhelming, especially if you aren't sure what kinds of legal support you may need as your business grows. This blog outlines a variety of legal issues to consider while building your company, so you now what kind of legal representation to keep on hand at all times. You can also expect to learn how to go about finding the right lawyer to work with in any unique situation that you might find yourself in.
-
Hiring A Personal Injury Lawyer 10 April 2024
-
When Should You Consider Hiring a Child Custody Lawyer? 15 February 2024
-
Do You Need a Corporate Business Attorney as a Freelancer? 17 January 2024
-
Five Signs You Need a Criminal Defense Lawyer 13 November 2023
-
Understanding The Role Of A Personal Injury Lawyer 3 October 2023
Finding the Right Legal Representation for Your Company
4 Ways To Make It Through Chapter 13 Bankruptcy
Tracy Roberts
Chapter 13 bankruptcy is a process that allows you to restructure your debt, pay if off, and get some of it forgiven. It is not a quick process; the entire process can take a number of years to complete, which is why it is important to have some strategies for getting through the entire multiple year process.
Way #1: Get the Right Professionals on Your Side
Chapter 13 bankruptcy is not something that you should go through on your own. Instead, you are going to want to make sure you have the right support network on your side. You are going to want to work with an experienced bankruptcy attorney who can see you through the entire process.
You are also going to want to work with a financial advisor, who can provide you with additional advice as you work through the financial side of the proceedings.
Way #2: Be Honest & Accurate
When you file for bankruptcy, you are going to have to disclose everything about your financial life. You are expected to share tax returns, bank statements, and pay stubs. You are expected to share information about all debt and income.
Your document declaring bankruptcy is going to include lots of pages, and it is important that it is honest and accurate. Withholding information can be damaging to your case, so be sure to work with your attorney to make sure all necessary information is disclosed in your initial bankruptcy filing.
Way #3: Create a System for Paying Bills On-Time
Chapter 13 bankruptcy is a drawn-out process as it is designed to allow you to get back on the solid financial footing and make payments on the debts that you have.
Making late payments once you are going through the bankruptcy process can have severe consequences, which is why you need to plan to pay all of your bankruptcy-related bills, and non-bankruptcy related bills on time. For example, you can set up a bill tracking system, sign up for automated payment, or set reminders in your phone so you don't miss out on a bill payment.
Way #4: Create a Budget
During the years that your Chapter 13 bankruptcy is played out, you are going to be expected to work to pay off your debts in order to get them forgiven. During this time, you are being given an opportunity to become financially strong. That is why you are going to want to work to create a budget that will allow you to pay for necessities and plan for emergencies while keeping up with your court-related debt obligations. Things will be tight for a few years, but you should leave the process with less debt and better financial management skills. Creating and sticking to a budget can help you get through this lengthy process.
If you want to make it successfully through the multiple year process that is involved with Chapter 13 bankruptcy, you need a good attorney and financial advisor by your side. You need to be honest with your initial filing, and you need to create a new budget and bill paying system that will guide you towards better financial choices.
Contact a lawyer today for more info about bankruptcy.
Share