Debt management is not an easy task, and things can easily get out of control. When this happens, one is advised to file for bankruptcy. If you have decided to file for bankruptcy, seek for a competent bankruptcy attorney to guide you through the whole process. Chapter 13 qualifies for individuals and persons, who are self employed or own unincorporated businesses, and whether they have secured and unsecured debts, the amount overdue should not exceed certain limits. Partnerships and corporations are however exempted from chapter 13. If the individual fails to appear in court or does not implement any orders given by the court during the preceding within 180 days, he then automatically disqualify for Chapter 13 Bankruptcy in Hamilton OH.
Just like any other case, this chapter begins by filing a petition with the bankruptcy court within the area which the debtor resides. In most cases, the debtor is also expected to file:
- List of their creditors and nature of their claim
- Their assets and liabilities
- Their current income and expenditure
- Any statements of financial affairs
- Contracts and active leases
Plans to repay the debt together with a certificate of credit counseling are required by the courts. Tax transcripts payments of the previous years before the case was filed and after should be provided by the debtor to the chapter 13 trustee.
Upon filing what is needed, certain charges plus some miscellaneous fee are paid to the court clerk. The amounts can be made in maximum of four installments with the last one to be paid not later than 120 days after filing. These fees are a must pay, failure to which the case may be dismissed. Spouses can opt to file a joint chapter 13 case; separate cases or they can also opt for only one of them to file the petition. Whichever the case, income and expenses of both of them are required by the court.
Filing a chapter 13 case stops all creditors listed from demanding or collecting anything from the debtor. The court will have the final say and with a good bankruptcy attorney, a big load of pressure will be uplifted and you will be able to pay your debts with ease.
To file a case on Chapter 13 Bankruptcy in Hamilton OH, Contact R. Dean Snyder Attorney or visit the website www.deansnyderatorney.com. Their legal representation is exceptional.
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