Filing a chapter 13 bankruptcy can be as easy or as tough as you make it. If you have an experienced California attorney with you, you can end up saving a lot of money while filing bankruptcy. But if you get the help from some small-time and inexperienced attorney, your case could weaken without your knowledge.
Once you have filed for bankruptcy and you are on the path of recovery, it is very important that you plan your future course of action carefully. This is important so that you do not meet any new roadblocks in the future.
In bankruptcy cases a bankruptcy trustee is a court-appointed impartial officer who is charged with administering the debtor's estate. The trustee is appointed by the Department of Justice's United States Trustee and serves as a representative of creditors and protects their interests both in cases filed under Chapter 13 and Chapter 7.
There are many ways of dealing with debt in case you are unable to repay it within the time period decided upon. While declaring bankruptcy is one way of dealing with the situation, it has a long-lasting impact on your financial life.