Making Amendments in a Bankruptcy Petition

There are situations when you may like to make some amendments in your bankruptcy petition that you have already filed. Unlike the common misconception, it is not an impossible thing. The petition refers to the legal document that outlines the provisions of bankruptcy and you have the right to make changes in the petition even after it is filed. In order to do this, you just have to follow the process as described by the laws. However, availing the services of an expert attorney will be a great help in this regard. If you are not well aware of the various laws pertaining to the various aspects of bankruptcy, you may find the process very complicated. Any mistake at this stage can prove to be very costly for you later. That is the reason why you are always recommended to hire a lawyer for such cases. Following is a brief rundown on how to make the required changes in the petition.

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Talk To Your Lawyer

Once you find the need to make amendments in the bankruptcy petition, the first thing you should do is to talk to your attorney. Give them the right figures and discuss everything in detail. The lawyer will guide you with the process. They will make sure that the correct papers have been filed. They will have to file a specific bankruptcy motion in this connection.

Meet The Trustee

The next step is to talk to your trustee. Schedule a meeting with him/her. After the lawyer files the motion to make amendments in the bankruptcy petition, the court will issue a notice specifying a date on which the debtor and his/her lawyer can have a meeting with the trustee and discuss the changes that have to be made.

Modifications Must Be Clearly Explained

In order to convince the trustee to allow you to make the required changes in the petition, you must clearly explain the kind of changes you want to make and why. You may be asked to show some documents in order to justify the amendments. Always remember, you will be able to introduce the changes only after getting an approval from the trustee. So, go for the meeting with good preparation. However, if you have an attorney, they will make the task much easier for you because they understand the language of laws and they know how to convince the trustee.

Payment To Secured Creditors

In order to get trustee's approval for making changes in the bankruptcy petition, you will also have to show that you have enough income to pay off all your secured creditors. If your income is less than sufficient, the trustee is not likely to approve the changes. The motion may get dismissed in that case.

In case, you find any difficulty in showing sufficient income, you must talk to your attorney and ask them to tell you other viable options. If the lawyer is a highly experienced one, they will definitely help you make sure that your the bankruptcy petition is filed properly.

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