Chapter 13 Bankruptcy

What is Chapter 13 Bankruptcy?

Chapter 13 bankruptcy is a common type of filing for personal bankruptcy matters. Chapter 13 bankruptcy is a legal option for an individual, or married couple, to have debts discharged and get a fresh financial start. A chapter 13 bankruptcy permits debtors to keep their personal property, and creates a repayment plan for some or all of their debts. The repayment plan requires monthly payments over a three to five year period, and the monthly payments are dramatically reduced from pre-filing debt payment amounts. The repayment plan allows you to pay less because creditors agree to settle your debt at a loss. Additionally, creditors may not harass you, initiate wage garnishment or collections efforts, foreclose on your home or repossess motor vehicles. Your property and income will be safeguarded. The alternative to filing chapter 13 bankruptcy is to file chapter 7 bankruptcy.

Filing Chapter 13 Bankruptcy

Filing for bankruptcy no longer carries the social stigma that once haunted persons filing for bankruptcy. People have become aware that bankruptcy is a bonafide legal option for them to get a fresh financial start, and end the torment of a chaotic financial mess. Filing for bankruptcy will bring your personal stress level down, and get you on the path to a better life. We offer a FREE CONSULTATION with a bankruptcy attorney to discuss your situation.

To qualify for filing chapter 13 bankruptcy you must have verifiable, steady income. Your unsecured debts must be less than roughly $337,000, and your secured debts must be less than roughly one million dollars. There other conditions which may prevent a debtor from filing for chapter 13 bankruptcy relief. After your initial consultation we can determine if chapter 13 is right for your situation.

If you are eligible to file chapter 13 bankruptcy, you will be required to complete an approved credit counseling course prior to filing your bankruptcy petition with the Federal bankruptcy court. You will need to meet with our firm to learn about the information we need to prepare your bankruptcy filing paperwork. The debt discovery process requires you to disclose all debts including creditor contact information, amounts owed, account numbers and other relevant information. When the paperwork has been completed, and reviewed by your bankruptcy attorney, your petition will be filed in Federal bankruptcy court. After your bankruptcy case is filed, the court will call for a Meeting of Creditors, which will be attended by the Trustee, in which all creditors are allowed to join and discuss the proposed repayment plan. The next step is to have a bankruptcy judge approve the repayment plan and then authorize the Trustee to begin the administration of the plan, including monitoring debtor payments and distributing creditor payments.

If for any reason the bankruptcy judge does not approve the repayment plan, the debtor should then discuss with their attorney the possibility of filing chapter 7 bankruptcy.

It is strongly recommended that after your chapter 13 bankruptcy case has been closed, that you take time to learn about rebuilding your credit, including learning about how to avoid credit rebuilding scams. For answers to common questions about filing for bankruptcy in Georgia you may enjoy our Bankruptcy FAQ page.

Call us today to arrange for a FREE CONSULTATION with a chapter 13 bankruptcy attorney to discuss your situation, and learn how chapter 13 bankruptcy may be the solution to ending your financial misery and getting a fresh financial start.

Bankruptcy Provides Relief!

When you file for bankruptcy, you automatically are protected under Federal laws. Filing for bankruptcy will

  • STOP Creditor Harrassment
  • STOP Collection Agencies
  • STOP Home Foreclosure
  • STOP Car Repossession
  • STOP Wage Garnishments
  • STOP Creditor Lawsuits

Chapter 13 bankruptcy allows you to keep your home, cars, furniture and more. Call us to learn more about what filing for Chapter 13 bankruptcy can do to help you now!

Bankruptcy Courts

Atlanta Division
75 Spring Street
Atlanta, Georgia 30303
Info & Directions

Rome Division
600 East First Street
Rome, GA 30161
Info & Directions

Gainesville Division
121 Spring Street
Gainesville, GA 30501
Info & Directions

Newnan Division
18 Greenville Street
Newnan, GA 30264
Info & Directions

National Association of Consumer Bankruptcy Attorneys

Pursuant to 11 USC ยง528, all bankruptcy attorneys have been designated "debt relief agents" and are required to disclose that we help people file for bankruptcy relief under the Bankruptcy Code.