Understanding The Role Of Chapter 13 Bankruptcy Trustee And Credit Card Debt Attorneys |
Posted: June 12, 2023 |
Credit card companies make money by charging interest, and at times they resort to inaccurate records, hoping that most of the customers will never challenge them. Moreover, harassment by recovery agents, especially when you are on the weaker side, may keep you awake all night long. Debt collectors and creditors keep calling, leaving you exhausted, and with signs of no hope. If your credit card company sues you, consulting a credit card debt attorney is most likely to get favorable outcomes for you. These include winning the case outright, or reaching a mutually agreed-upon settlement with the plaintiff. The specialist credit card debt attorneys, such as those available with Recovery Law Group, will help raise any defenses you have in court, negotiate with the creditors to settle the debt, and inform you of your rights and responsibilities. The best part is that your credit card debt attorney can make the collections and harassing calls stop for good, and help you with a legal path to release the stress from your credit card debt. The top industry players, including banks, want you to pay off your credit card debt, regardless of whether or not you achieve this goal by taking new debt. Recovery Law Group’s credit card debt attorneys can help you choose the appropriate option in the given timeline. The specialist attorneys can help you through the process to pay off, settle, or consolidate your credit card debt, depending on what is appropriate in your individual situation. Helping you with a fresh start for your financial life Another situation where Recovery Law Group’s attorneys can help you in managing your finances and give a fresh start to your financial life when you have filed for bankruptcy under Chapter 13. The notice of appointment of a bankruptcy trustee is sent to the debtor after the filing of bankruptcy has been received by the court. Moreover, if your trustee needs additional financial information, such as bank statements, and details of tax returns, it is intimated to the debtor in the notice. The role of the Chapter 13 bankruptcy trustee includes managing the claims that are aimed at the estate. It also indicates that all the assets are now under the direct control of the court. The liquidation or any action on this estate needs to be approved by the bankruptcy trustee. More on the role of Chapter 13 bankruptcy trustee The trustee needs to ensure that there is enough proof of the insurance of the collateral that the debtor will use to pay off the creditors, specifically on mortgage dues and car loans. This proof is needed, and is an advantage to the creditor if the collateral is damaged. Another important role of Chapter 13 bankruptcy attorney is to confirm the capability of the debtor to clear off their dues in the stipulated period using the repayment plan. Subsequent plan payments are expected to be facilitated directly from the wages or the debtor. Another important role of Chapter 13 bankruptcy trustee is to share the approval on the repayment plan with the judge, and also raise concerns if there are objections from their end, or the creditors.
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