Facing insurmountable debt is overwhelming, and individuals often grapple with the emotional and financial stress that accompanies such circumstances. However, it's essential to view bankruptcy for what it genuinely is: a legal tool designed to help individuals regain control of their finances. Among the various bankruptcy options available, Chapter 13 stands out as a constructive choice for many debtors, offering a structured way to reorganize debts and create a manageable repayment plan.
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A bankruptcy attorney plays an important role in your bankruptcy case. Part of their job is to review your submitted records and schedules with several goals in mind. What are these? Here are three of the main things your attorney will be looking for.
1. Nonexempt Property
Bankruptcy law allows debtors to exempt some property from liquidation or repayment. However, these exemptions have limits. The attorney will examine your property to ensure that what you are claiming an exemption on actually qualifies for one.
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