Macon Chapter 13 Bankruptcy Lawyer
Serving Georgians in Macon, Warner Robins & Central Georgia
Chapter 13 bankruptcy provides an alternative form of debt relief to those who do not qualify for a Chapter 7 filing or who have assets they wish to retain, such as their home and vehicles. This type of bankruptcy does not sell off any assets but becomes a kind of debt consolidation in which your debt is reorganized and repaid in a three to five-year period. This type of bankruptcy plan works well for those who have fallen behind on mortgages, car loans, or other secured debt as well as unsecured debt and who have a reliable income with which to repay some or all of their debt.
If you wish to explore your bankruptcy options, the smartest action you can take is to discuss the specifics of your financial scene with Kyle at The Law Office Kyle Krejci. Kyle has been assisting Georgians with bankruptcy filings since 2010. He can evaluate your situation, advise you on how a Chapter 13 can apply, and, through trusted information, help you make an informed decision about what is right for you. Should Chapter 13 be the optimum solution for you, he can thoroughly prepare your case and guide you through the court process.
More About Chapter 13 Bankruptcy in Georgia
Chapter 13 bankruptcy allows you to propose an installment repayment plan to repay your creditors under the supervision of the court over the life of your plan. You will make one monthly affordable payment to the court during the plan. If your monthly income exceeds the median income for a household of your size, your plan will generally last for five years. If your income is lower than the median, it can last for three years.
You will wind up paying back anywhere from none to all of your unsecured debt depending on your disposable income. This means that, once your repayment plan is completed, whatever balance remains on your debts will be discharged. These debts can include credit card balances, medical debt, utility bills, personal loans, most lawsuit judgments, and more.
Debts that cannot be discharged through this type of bankruptcy include child support and alimony payments, certain tax liabilities, missed payments on mortgages and vehicles, traffic tickets, student loans, and criminal penalties.
Chapter 13 bankruptcy has many benefits, especially for those with mortgage and car loan arrearages that can be paid off through the plan.
- You can avoid or prevent a foreclosure on your home
- You can catch up on past-due mortgage payments through the repayment plan
- You can restructure your debt through a reorganization that can lower your payments
- Once you file, creditors are prohibited from collection efforts through an “automatic stay” by the court
Kyle understands that filing for bankruptcy is a big step and a decision that you will need to properly weigh. That is why he is here to ensure that you understand all that is involved in the process, including the pros and cons, and how it will specifically apply to your circumstances.
Get started on a debt relief plan by booking your free consultation with Kyle today.