As a Data Entry Clerk when working on a bankruptcy Chapter 13case certain information is required to process the client’s case. This information makes up part of the bankruptcy basics. In the Real Estate section if a client has Real Estate Property the name of the Mortgage Company is needed, the balance owed to the mortgage company, the monthly payments, and if there are any past due amounts. We also will need to know if the client is going to keep or surrender the property.
In addition to real estate, the data entry staff also needs information on any motor vehicles the client owns. This can include cars, motorcycles and trucks. Any motor vehicle that the client owns or co-signed for must be listed in the bankruptcy, regardless of whether the client plans to keep or surrender the vehicle. The client should provide the data entry staff with the year, make and model of the vehicle, and if possible, with the mileage. This is very important in preparing an Illinois bankruptcy case.
If a client is still paying on the vehicle, they must provide the name and address of the finance company as well as the balance owed and the amount of the monthly vehicle payments if a vehicle is leased, the client should also provide the finance company information. In addition, the names of any co-signers and co-owners should be provided as well. Other information such as property and assets must be listed too.
When you meet with your Chicago bankruptcy lawyer, he will gather the information needed by conducting an interview. Additionally, he may ask that you bring in certain documentation such as statements and bills. It is from this information that the attorney will know which chapter of the bankruptcy code to recommend. It is not always a chapter 7 that winds up getting filed. Sometimes, the debtor is best served with the filing of a Chapter 13 bankruptcy case. Creditors are paid over the course of three to five years. They are sometimes paid back in full while at other times they are paid less than in full. Once again, your attorney will be able to give you advice on what creditors will likely receive.
Lastly, make sure that you are hiring the right attorney. Not every attorney is capable of handling a complex bankruptcy case. You should be very direct and ask difficult questions of the attorney that you seek to hire. You do not want to have to change lawyers during the middle of the case. Some attorneys will not be willing to jump in on an existing case. Also, make sure that you have explored all of your options. There are bankruptcy options and non-bankruptcy options. Make sure that you have covered all of your options prior to embarking on a bankruptcy filing.