Filing Chapter 13 Bankruptcy in Georgia
Chapter 13 Bankruptcy
Chapter 13, also known as "Reorganization Bankruptcy," gives people the opportunity to repay debts, usually without the liquidation of assets. In many cases, this helps homeowners avoid foreclosure and keep their homes as long as they can continue to make payments. It can also be helpful in preventing repossessions, wage garnishments, debt lawsuits, and can also help pay off or reduce credit card debt.
Chapter 13 Bankruptcy Can Help You To Financial Freedom
Chapter 13 bankruptcy is designed to help people who have financial troubles often spurred by the loss of a job, unexpected health problems, divorce, or other unplanned events. Whatever may be causing your financial setback, it can often be remedied with a little time and some breathing room. Chapter 13 provides that opportunity to help you get back on your feet.
How Chapter 13 Bankruptcy in Georgia Works
A multitude of factors, such as your income, assets, and the specific nature of your debts all contribute to the amount of your plan repayment. The repayment amount is also based upon the median income standard for the area of Georgia in which you live. The time frame for Chapter 13 is usually three to five years, depending on your situation, and it can be used to pay off and eliminate both secured and unsecured debt. We are experienced in all areas of Georgia bankruptcy law and can help you through the difficult process.
If you're facing financial difficulties and think bankruptcy may be your best option, contact the Atlanta, Georgia bankruptcy lawyers of King and King for your free bankruptcy consultation today, 404-524-6400.