Chapter 13 bankruptcy may be the best option to relieve your financial burden. The Atlanta bankruptcy lawyers at Clark & Washington recommend this type of filing for people with large amounts of debt that cannot be discharged through Chapter 7 bankruptcy. A Chapter 13 filing allows the bankruptcy court to set a schedule for repayment to creditors, usually during a period of three to five years. Our Atlanta attorneys and support staff have decades of experience leading clients through the Chapter 13 bankruptcy proceedings. If you are in need of Chapter 13 assistance, contact one of our skilled bankruptcy attorneys to discuss your options today.
Filing for Chapter 13 bankruptcy under federal law is known as debt consolidation or a debt repayment plan. In Chapter 13, as in other forms of bankruptcy, an automatic stay is issued once a petition is filed with a bankruptcy court. Creditors are barred from filing a lawsuit against you for money owed. And all collection processes, including harassing phone calls, must cease.
Part of the petition filed with a court must contain a repayment plan that the court has the option of rejecting or approving. This plan must specifically outline how you will repay your creditors over a period of 36 to 60 months. Payments are often made one month after the court approves the schedule, with that payment going toward the principal balance of the debt. Creditors cannot charge interest during the repayment period.
Much like a Chapter 7 filing, claiming Chapter 13 bankruptcy in Atlanta provides a powerful remedy for overwhelming credit card balances. By incorporating these unsecured debts into a court-approved reorganization, you can halt interest accumulation. Under this structure, creditors receive a pro-rated portion of what is owed based on your current financial capacity. Once you successfully navigate the duration of your repayment term, any remaining credit card balances are legally eliminated. If you believe this restructuring strategy fits your needs, reach out to our skilled legal team to discuss your Chapter 13 eligibility.
If you have a steady paycheck but are struggling to stay afloat, filing for Chapter 13 bankruptcy in Atlanta can provide the breathing room you need while you retain your main residence/home. This plan is designed to help you catch up on “priority” debts that other forms of bankruptcy can’t touch, including:
The primary advantage of Chapter 13 is that it allows you to keep the things that matter most. By restructuring your debt, you can save your home from foreclosure, prevent eviction, and immediately end the stress of wage garnishments and creditor harassment.
The cost to file a Chapter 13 Bankruptcy will be the Federal Court filing fee of $338.00 plus;
$70 that includes:
All attorneys’ fees for a Chapter 13 are routinely put into the repayment plan and are priced based on your unique financial situation. The Chapter 13 Trustee will pay the attorney’s fees on a monthly basis along with the other creditors.
Of course, your financial circumstances may change while you are in Chapter 13 – if you find that you can no longer afford your Chapter 13 plan payment, your Clark & Washington lawyer can either modify your plan, or we can convert your case to Chapter 7 and wipe out debts. Either way, your Clark & Washington lawyer will stand by you every step of the way while you are in your bankruptcy case.
We’re always here when you need us—day or night.
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