Carbon Hill Bankruptcy Lawyer

If you file Chapter 13 bankruptcy through a Carbon Hill bankruptcy lawyer, you should be aware of the process involved. Importantly, your case is filed with the Clerk of the U.S. Bankruptcy Court and notice is sent to all creditors, your attorney and to you. This is just the first stage of the case. You will also have a hearing before the trustee who will make sure that the information contained in the petition is true and accurate. The next important phase is the confirmation hearing. This is where you want the trustee to be in a position to recommend to the judge that your payment plan should be approved. This is not always the case with the trustee.

Every once in a while a bankruptcy Chapter 13 trustee will object based on some issue which really was not germane to the case in the first place; thus, most judges are not listening to the Chapter 13 trustee’s objection and if there’s not creditor objection the motion to extend the stay will likely be granted.

Whatever your situation is you want to listen to the advice of your bankruptcy attorney. You want to disclose all the transfers and all of the property that you have in either form of bankruptcy case to your bankruptcy attorney. Let your attorney guide you through the process. If your attorney believes that what you did was fraudulent your attorney will hopefully advise you of that fact and you can make actions accordingly. Always heed the bankruptcy advice of your counsel.

If on the other hand you do not disclose something to your trustee it will likely come out to the trustee at the 341 meeting of creditors. This is where you are under oath and you have to answer yes/no questions pertaining to the documents filed in your case. The trustee will also ask you with regard to real estate whether you’ve owned any real estate in the last four years. The trustee also wants to know have you given away or sold anything for less than its fair market value. You do not want to lie under oath to the bankruptcy trustee; you do not want to commit bankruptcy fraud. You are much better off repaying your creditors over time or going through a non-bankruptcy remedy as opposed to getting into trouble with Federal bankruptcy law.
Once again, consult with your local bankruptcy lawyer with regard to any specific questions about your particular case because bankruptcy is serious.

Posted in Illinois Bankruptcy |