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.
