A chapter 13 bankruptcy deals more with re-organizing the debt that an individual has so they can pay down the debt easier. It is wise to use a Louisville bankruptcy lawyer to assist with this. It means developing a re-payment plan that once done it has to be followed exactly as planned. There are times
A chapter 13 bankruptcy deals more with re-organizing the debt that an individual has so they can pay down the debt easier. It is wise to use aLouisville bankruptcy lawyer to assist with this. It means developing a re-payment plan that once done it has to be followed exactly as planned.
There are times during the course of a chapter 13 bankruptcy that circumstances change. This form of bankruptcy usually lasts for anywhere between three to five years. In some cases a couple end up becoming divorced during this time period and this can have a dramatic effect on the finances.
If this is the case then it also becomes a legal matter concerning your bankruptcy lawyer who may have represented you both for your bankruptcy. It now may be a conflict of interest. You will need to discuss this with your legal counsel.
You may now have some options concerning our bankruptcy. If it turns out that your divorce is not going to affect your finances that much then you can just continue as planned. It might be that you will need to attempt to convert the chapter 13 bankruptcy to a chapter 7. You might also have an option to modify the re-payment plan. There may also be an option to separate your bankruptcy into two separate ones.
It is a rough time for anyone in a bankruptcy to be going through, but it should not just be determined that the original bankruptcy will be no longer available. Think through the options carefully and rely on the assistance that your legal counsel can provide you with.
