Just because someone files for bankruptcy, there is no guarantee that he or she will be granted debt forgiveness. Even though someone may be in dire need of bankruptcy protection, the bankruptcy courts have the right to reject a debtor’s bankruptcy request if he or she doesn’t meet all the necessary qualifications. Before filing, it is important to understand the possibility of rejection and what you can do to prevent these rejections.
What You Need to Know
One of the most important points to remember before filing for bankruptcy is that there is a difference between Chapter 7 and Chapter 13 bankruptcy. For example, applicants for Chapter 7 bankruptcy have to pass a means test and may be rejected because of their income.
For Chapter 13 bankruptcy, many people are rejected because their repayment plan is poorly constructed or not presented in detail. For these reasons, it is important to have a qualified bankruptcy attorney on your side in order to help strengthen your case.
If you are facing financial difficulty and considering filing for bankruptcy, an experienced legal professional can provide you with the advice and assistance you need. Contact the Milwaukee bankruptcy lawyers of DeLadurantey Law Office, LLC today at 414-377-0518 and schedule a free consultation to discuss your legal options.