Double check all your paperwork. Even if you have an attorney, it's a good idea to carefully go over all the paperwork involved yourself. Be sure that there are no errors. Once, you are sure that your paperwork is error-free, take the time to get it all together, and properly organized.
The main duty of the trustee is to represent the creditors. However, this role changes, depending upon the different types of cases and the judgment given by the bankruptcy court. These legal professionals are usually the representatives of the creditors, but depending upon case to case, it is also their duty to keep a watch on the debtor's action. For example, if it is a chapter-7 case, their duty is to make sure that all the assets and properties of the debaters have been liquidated as per the laws. At the same time, they also work in favor of the debtors, by making sure that they get the properties exceptions as per the specific laws of that particular state regarding the same say Ogden Bankruptcy Attorney. On the other hand, if it is a chapter-13 case, the bankruptcy trustee keeps a watch on the debtor's business activity. In some cases, they even work hand in hand with the debtor in order to ensure smooth and profitable running of the business of the debtor. At the same time, they also keep a watch whether the debtor is religiously working on the repayment plan suggested by the court or not.
There are many financial consequences for filing for bankruptcy. It is a last resort option for those with major financial troubles. Credit card and medical debt are the leading types of debt which bring individuals to this point. Cash advance and payday loan debt will qualify, but a title loan is secure and you will lose the car after all. Talk with the credit counselors to see if there is another solution to your debt problem. Bankruptcy is always a last resort option.
Keep in mind that filing for bankruptcy does not necessarily guarantee the complete forgiveness of all debt. Filing may not be the best option for everyone, and it is essential that debtors obtain advice from an attorney if they are hoping to hang on to a car or home after declaring bankruptcy. Anyone wishing to file for Chapter 7 is required to seek credit counseling which ultimately may not be such a bad idea, even for a debtor who does not end up filing.
Quite the opposite, actually. Before you even get home from the courthouse, your mailbox could be rich with credit cards offers again. The catch is that they will be from subprime lenders charging very high interest rates. In fact, if you have a credit card with no balance at the time you file, you may not have to include it in your list of creditors, since you don't owe them money. You may even be able to keep the card after the bankruptcy is finished.