If you are worrying about losing your car, home, or other assets upon filing for bankruptcy, Chapter 13 may be the better option for you. Chapter 13 reorganizes your debt into a repayment plan and protects your property.
If you have a large amount of assets, Chapter 13 bankruptcy offers
advantages that may make it suitable. You can save your home, your car, 401k,
and more. Your bankruptcy attorney will review your case with you so you can
make an informed decision.
Another advantage of Chapter 13 is that you know going into
it that the repayment plan will work for you because it is built from your
current financial situation and income. Under your repayment plan, you may only
pay off a portion of some debts but may pay off others entirely. Each case is different. Your attorney tailor-makes your case for you,
depending on a variety of factors.
For most clients, the duration of your repayment plan
typically lasts from three to five years. King and King will evaluate your
situation and determine if Chapter 13 bankruptcy is right for you. Call our
office today at 404-524-6400 to schedule a free, confidential consultation to
discuss your options or visit us at www.kingandkingattorneys.com.
