Chapter 13 Bankruptcy FAQ’s
King and King Bankruptcy Attorneys, Atlanta Georgia. 1/15/2013
Chapter 13 Bankruptcy is reorganization of debt. If your circumstances meet the eligibility requirements to file for Chapter 13, you may be able to keep most of, if not all of your assets. Chapter 13 Bankruptcy is the restructuring of your debts under the supervision of the court. You and the court will develop a plan to pay back creditors within three to five years. Chapter 13 will allow you to keep your property and pay off your debts over time, pursuant to a court-approved repayment plan.
How do I file for Chapter 13 Bankruptcy?
Your first step before filing bankruptcy should be to schedule a free consultation with an experienced bankruptcy attorney. Once you know your options and a course of actions has been agreed on, our attorneys will file a petition with the bankruptcy court. Before, during, and after your bankruptcy our attorneys at King and King will walk you through the process and answer any question you may have.
What will I need to file Chapter 13 Bankruptcy?
Complete statement of your financial affairs.
List of your current income and expenditures.
A current listing of your assets and liabilities.
A schedule of certain loan contracts and unexpired leases.
Do I Qualify for Chapter 13 Bankruptcy?
Eligibility is determined on a case by case basis. However, you may be eligible to file Chapter 13 if you have a current regular income. Chapter 13 will allow you to keep your property and pay off your debts over time, usually three to five years, pursuant to a court-approved repayment plan. You may be eligible to file Chapter 13 debt-relief as long as your unsecured debts and secured debts meet state requirements.
King and King has years of experience with Georgia bankruptcy law, and can help you find the best solution to get your life back on track. If you need an experienced bankruptcy attorney and you’re ready to start exploring your options, stop into the office in Atlanta, Marietta, orLawrenceville, or give us a call at (404)524-6400.