McDonough & Macon Chapter 13 Bankruptcy Attorneys
Our Firm Can Help You Reorganize Your Debts.
Contact Us Today at (770) 629-8065.
Reasons To Choose Our Lawyers
Free Case Consultations
Tailored & Effective Financial Solutions
Backed By Extensive Legal Experience
Hundreds Of Cases Successfully Handled
Chapter 13 bankruptcy involves a debt consolidation or repayment plan.
In order to be eligible to file under Chapter 13, you must have a source
of regular income, such as employment or social security. This form of
bankruptcy is ideal for many Georgians because it allows them to catch-up on missed
payments to secured creditors, such as car payments or mortgage payments.
In many cases, it is still possible to wipe out your unsecured debt, liked
credit cards and medical bills, while keeping your home and vehicle.
Why Should I Choose Chapter 13 Bankruptcy?
Chapter 13 bankruptcy should be thought of as a financial planning tool
which can be used to end a "cycle of debt" without losing everything.
While some of your debt can be discharged, this option is more focused
on giving you some breathing room. Once a bankruptcy case is filed, a
court ordered "automatic stay" goes into effect, which will
put a stop to all creditor contact and action.
An automatic stay will immediately stop:
Harassing phone calls and letters
How Chapter 13 Bankruptcy Works
Chapter 13 bankruptcy can last three to five years depending on your household
income. During that period, you will make payments to the trustee in your
case each month. From that payment, the trustee will pay administrative
fees, including trustee and attorney's fees, payments to secured creditors,
and payments to priority claims.
If all of those creditors and claims have been paid before your case ends,
the trustee will begin paying unsecured creditors, such as credit cards
and medical bills. It is possible to complete your case and receive a
discharge of your remaining debt without paying your unsecured creditors.
You will need to have paid all of your secured and priority creditors
and have met your applicable payment commitment period.
Call (770) 629-8065 to schedule your
free and confidential consultation with an experienced McDonough bankruptcy attorney.
We have weekday, weekend, and evening appointments available to accommodate