Bankruptcy Filings
After filing a Chapter 7 bankruptcy petition, some debtors discover that they are better served by pursuing relief under Chapter 13. By filing an appropriate motion with the bankruptcy court, the debtor has an absolute right to convert the petition to a Chapter 13 filing, if the debtor has not previously converted a Chapter 7 bankruptcy to a Chapter 13 bankruptcy, and the debtor’s estate qualifies for Chapter 13 relief. Some people prefer not to file for bankruptcy because there might be too many risk factors involved for them or their family. In case of such situations, a lawyer helps clients to deal with creditors, negotiate a debt settlement and arrange refinancing. A bankruptcy lawyer should have the knowledge and legal expertise of the new bankruptcy law that went into effect on October 17, 2005 and how it will affect debtor s rights, Chapter 7 filing and Chapter 13 filing.
More on chapter 13 bankruptcy and advantages of bankruptcy
