Completing Your Chapter 13 Bankruptcy
Filing Chapter 13 bankruptcy may help you gain control of your finances. The filing is a collaborative effort including your attorney and/or trustee and the debtor. The process may seem tedious with preparation of documents and final reviews of financial information. While your legal representative tends to important responsibilities pertaining to your case, as a debtor you have responsibilities that are just as important. Keeping up your end of the case can increase chances of completing scheduled payments successfully.
The following tips may help you stay on track in completing your Chapter 13 case:
- Stay on track with your schedule by making payments on time each month. It's possible to have payments deducted from your wages to ensure monthly payments are made promptly.
- Keep insurance payments up to date on your vehicle and mortgage.
- Any changes in address or contact information should be reported promptly to your attorney to avoid delay in communication.
- Changes in your income should be reported to your attorney immediately. This includes a raise, reduction of income or a job loss.
- Maintain good communication with your attorney during your case. If you receive documentation in the mail and you are unclear on what it means, don't hesitate to contact your legal representative for clarification. Good communication helps you be proactive during your case.
- Talk to your attorney before applying for additional credit. You may be required to obtain permission from the court before completing an application to ensure you can continue making payments on your plan.
- If you have a budget, stick to it. This can help make monthly payments easier. It may help you avoid overdraft fees from your bank and even prevent overspending or unnecessary purchases.