Before You File Chapter 13 Bankruptcy

Before You File Chapter 13 Bankruptcy, Do This First!

Filing for a chapter 13 bankruptcy in Atlanta can be the perfect solution to get your finances back on track and an Atlanta bankruptcy attorney can help. Remember: a Chapter 13 bankruptcy is not a failure; it is a tool to show you are taking responsibility for your financial past, present, and future. It is the fresh start you deserve.
Chapter 13 is sometimes called the wage earners plan. Chapter 13 attorneys specialize in helping people just like you come up with a plan to pay off their debt over time through an assigned trustee of the court. The “plan” gives you time to reboot your finances. Most plans are designed for you to make payments for 3-5 years.
A good bankruptcy attorney will develop a plan that will help you consolidate all your debt into one easy to manage monthly payment. Your disposable income, that is income that is not assigned to living expenses is used to make plan payments.

Who Should Consider Filing Chapter 13 Bankruptcy?

To successfully file a Chapter 13 as any bankruptcy lawyer will tell you, must have provable income. Steady income that can cover the plan payments is a necessity for the plan to be accepted by the court. Chapter 13 attorneys use your income to develop the plan. If you meet this criteria, then you can consider this option.
An experienced foreclosure attorney in Atlanta may recommend you consider filing a Chapter 13 to save your home. When all else fails, a well-heeled bankruptcy lawyer may use the powerful provisions of the automatic stay to help you stay in your home.
Anyone that wants to keep their cars, their homes, and other property should consider filing this chapter of the bankruptcy code. It can work out to your advantage and get you lower interest rates than what was on the original debt. Chapter 13 attorneys specialize in working the plan out in your favor.
If you are struggling with credit card debt, medical bills and other unsecured debt, this may be the ideal solution to regroup your finances. Your best option is to speak to a lawyer that specializes in bankruptcy to get professional guidance.

Avoid This

Unfortunately the bankruptcy laws are not set up to make them easy to navigate. The one thing you never want to do when you are considering filing for relief is to take the do it yourself route. Bankruptcy attorneys specialize in these laws and know the ins and outs of pulling together a successful plan.
This is not the time to go it alone. The help is available and it is a lot more affordable than most people think. Don’t risk the opportunity by trying to manage the situation without the help of an experienced attorney.

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Holston & Huntley, LLC, Attorneys & Lawyers Bankruptcy, Atlanta, GA