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Filing for bankruptcy is important if you have outstanding debts and you need more time to pay up. But how can you handle it if your bankruptcy case was denied and you know you need it to survive? If this happens to you, just know that all hope is not lost as there may be other options to explore for you to smile again if you act quickly.
These options are meant to be taken seriously and quickly too. If you are quick to act, there may be a reconsideration of the dismissal.
Chapter 13 requires that people who are indebted should pay up as much as they can within a stipulated time, which is usually between 3 and 5 years. This helps the debtor to still have something left to cater for basic needs such as payment of rent. Another benefit is that the debtor can still have rights to his assets.
What would be the case if you were actually unable to make the payments as a result of insufficient funds but later got help from a family friend or a better job?
These differences in circumstances, if well presented, might be all you need to convince your creditors that you should be given a second chance. The judge would just want to be sure that you can fulfill the requirements in your present status. It won't matter if your case had been dismissed before.
Several judges handling bankruptcy cases are of the opinion that people should be given second chances. They are aware that financial crisis can hit anybody and are always hopeful for good news to support reconsideration of lost cases. They believe that someone who wasn't able to pay initially might have worked very hard but failed as a result of unavoidable factors.
There are several reasons why Chapter 7 cases are rejected, but it has been discovered that most of the people who were not considered did not follow strictly the recommendations of the law. Some of the downfalls include submitting incomplete documents and not presenting oneself in the court. These same reasons are also true for Chapter 13.
It is important to call on your lawyer to discuss the possible reasons why your case was dismissed at first, and to see if there could be any other step to take to revive the application. Filing for bankruptcy requires lots of paper work so if you missed out anything at first, it is possible that your request would not have been granted. Information that needs attestation should also be submitted along with the attestation to increase your chances of succeeding with the claims.
Your lawyer can help you by giving you possible reasons why your application wasn't accepted initially and also advise you on how to present your excuse. If the judge sees your reason as being logical, you may be given another chance to reapply for bankruptcy.
In addition, it could be that your financial status changed for the better after the time you applied. If your present financial status is enough to win the case, you might also be reconsidered for a second chance.
It is more difficult to be given a second chance for Chapter 7 than for a Chapter 13 case. This is because for a Chapter 7 case to be denied, you must have committed a more serious offense such as not appearing in court, not filing the correct documents or not playing strictly by the rules. These cases are dismissed without mercy because it is believed that the defaulters cannot play in the game.
There is also a possibility of losing the case if you file it without a lawyer. Doing this independently is like being penny wise but pound foolish.
Ignorance of the rules is certainly not an excuse so you should be well informed of the procedures before you start anything in this aspect. It is more comfortable to hire an attorney for this course. An attorney will charge you for reapplication and for the stress involved in meeting your creditors to reconsider your plea.
It is easier to deal with the case before the court delivers their final judgment. For this reason, it is important to contact your Gwinnett County bankruptcy attorney once you are intimated about the possibility of losing the case. Once you lose it, you may never be able to get another chance. This will save you time, money and peace of mind.
If you lose your case, you should ask your lawyer about the next line of action to take. Your lawyer is important here because he will tell you the right time to begin the reapplication. Depending on the judge or reasons, he may tell you to start immediately or to leave it for some months. Not all bankruptcy cases are dismissed for the same reasons so it is necessary to have a lawyer around for constant clarification.