Georgia Chapter 13 Bankruptcy

Georgia Chapter 13 bankruptcy is usually recommended by Georgia bankruptcy attorneys when their clients have fallen behind on their mortgages or car payments so they can avoid foreclosure or repossession.  It is also a viable option for people who are behind on the types of bills that cannot be discharged through Chapter 7 bankruptcy, like student loans, tax bills, and child support.

When you file for Chapter 13 bankruptcy in Georgia you will need to meet with a GA bankruptcy lawyer and devise a three to five year plan to bring your bills up to date.   Your attorney can sometimes negotiate with your creditors and have them reduce the debt to less than the full balance.  Georgia bankruptcy law stipulates that you have to disclose and account for all of your debts when you file for a Chapter 13 bankruptcy in Georgia, and when it is finalized, a direct payment plan will be set up through the payroll department of your employer.

Once you and your Georgia bankruptcy lawyers have submitted your Chapter 13 bankruptcy petition to the court and the creditors, they can of course accept it, but they also have the right to file what is called an “objection to confirmation.”  A Trustee might do so if he or she felt that you were not presenting adequate proof of your ability to make good on the proposed plan, or if there was a discrepancy between what you have disclosed and what the court may have found.  Creditors sometimes object when they feel as though the plan is not sufficiently limiting their exposure, perhaps due to the perception of insufficient insurance on the collateral.

Handling any objections to confirmation that arise is one of the things that your Georgia bankruptcy lawyer does for you.  Your attorney will have a firm understanding of your case having worked with you to devise the reorganization plan that was presented.  He or she will vigorously advocate in your behalf and do everything that is necessary to assuage the concerns of the Trustee or the creditor.

Georgia Chapter 13 bankruptcy is a good way to restructure your debt so that you can keep your property and get your bills up-to-date in a matter of a just few years.  Your credit will take a hit during the three to five year repayment period, but you will retain your belongings and be rid of the stress that goes along with threats of foreclosure and repossession.

When you have decided to file a Georgia Chapter 13 bankruptcy petition, you need to consult with a Georgia bankruptcy attorney who knows the ropes..  Law Firm specializes in Georgia bankruptcy law, and you can rest assured that we will handle your Chapter 13 reorganization efficiently, effectively, and affordably.

• Stop Harassment
• Stop Repossessions
• Stop Foreclosures
• Keep Your Home
• Keep Your Car
• Keep Your Wages