Bankruptcy Appraisal Services from Appraisals By Michael
A bankruptcy appraisal evaluates to a court whether or not a debtor is able to pay back debts. It is a thorough document required by the court that determines if your bankruptcy filing is considered credible.
Your home, likely your largest asset, is evaluated along with other property to give the correct picture of your financial status at the time of declaration. It is the best way to prove to the court that your value written in your bankruptcy documents is accurate. Additionally, the experience, credibility, and industry reputation of the appraiser are critical to the bankruptcy judge in accepting or rejecting your home valuation as accurate.
It is best to have a property valuation done before you decide to file Chapter 7 or proceed into a debt repayment plan under Chapter 13. Having a current, accurate home valuation before you begin litigation will give insight into being awarded a debt discharge approval. If the judge feels that the litigation appraisal lacks proper analysis and is indefensible, then you may have to pay back your debt under the Chapter 13 bankruptcy plan. As a result, it is imperative to work with a knowledgeable bankruptcy appraisal expert who has experience working with attorneys and courts. Appraisals By Michael has the qualifications and experience necessary to give a clear testimony when it counts the most.
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