Griffin Bankruptcy Lawyers Establish Chapter 13 Repayment Plans
Experienced Georgia firm helps people reduce their debt on a fair schedule
So many Americans live paycheck to paycheck that even a temporary money shortage can cause them to fall behind on their obligations. If you’re earning an income but don’t have enough cash on hand to catch up on your debts, a Chapter 13 repayment plan might be the answer. For 27 years, Thacker & Dutton Law Firm, LLC in Griffin has assisted Georgia clients with these bankruptcy proceedings and other debt relief methods. Whether your crisis was triggered by a divorce, job loss, medical condition or some other event, we provide the compassionate guidance you deserve as you get back on your feet. Our firm will file the necessary materials promptly to stop harassment from collectors and start your financial recovery.
Thorough attorneys handle the legal requirements for Chapter 13 filings
Unlike Chapter 7 liquidation, Chapter 13 bankruptcy allows you to keep your property as you repay your debts. Though some creditors might reduce what you owe, debts are repaid instead of discharged, so means testing is not required. In a free initial consultation, we will explain the important aspects of the Chapter 13 process, including:
- Eligibility and automatic stay — You are not permitted to establish a Chapter 13 repayment plan if you have filed for Chapter 7 bankruptcy within the last four years or for Chapter 13 in the past two years. Once you have filed, the bankruptcy court issues an automatic stay, which stops creditors from contacting you, garnishing your wages or cutting off your services.
- Repayment plan — The most important part of your Chapter 13 paperwork is the repayment plan. We will outline a detailed program by which you’ll pay back your obligations over a period of three to five years. Priority debts, such as taxes, alimony and child support, and secured debts, including mortgages and car payments, are moved to the head of the line. Disposable income that remains goes to pay unsecured debts, such as credit card bills.
- Credit counseling — As part of the bankruptcy process, filers are required to meet with a credit counselor, who usually works for a nonprofit agency. The counselor can help you to organize a budget and determine the best way for you to pay down your debt while still meeting your other financial needs.
Our experienced Griffin, Georgia bankruptcy attorneys will give you the individualized counsel you deserve in order to create a sound repayment plan. By taking a close look at your specific circumstances, we can come up with terms that maximize your chance for court approval.
Contact a responsive Georgia Chapter 13 bankruptcy attorney for a free initial consultation
Thacker & Dutton Law Firm, LLC helps Georgians with Chapter 13 bankruptcy repayment plans and other debt relief tools. Please call 770-229-9593 or contact us online to schedule a free initial consultation at our office in Griffin.