Atlanta, Georgia Chapter 13 Bankruptcy Law Firm
If you do not qualify for Chapter 7, you may still qualify for Atlanta Chapter 13 bankruptcy. This is also known as Wage Earner Bankruptcy because you are still earning an income and meet other requirements. Under Atlanta Chapter 13—in accordance with Georgia laws—you establish a plan to repay your debt over a period of three to five years, and you get to keep more of the possessions you worked so hard to acquire. Every day you work through your plan moves you closer to the fresh start you need for a secure life.
How an Atlanta Chapter 13 bankruptcy lawyer guides you through the process
Filing for Atlanta personal bankruptcy begins by determining which option, Chapter 7 or Chapter 13, is the best choice for your financial circumstances. Berry & Associates is experienced in handling both of these types of bankruptcy. We help you determine which bankruptcy process is the right choice for you.
When you file for Chapter 13 in Atlanta, you establish a repayment plan to pay off your debts over a three- to five-year period—unlike a Chapter 7 bankruptcy, where most debts are eliminated without repayment. However, you are able to keep more of your property and assets under an Atlanta Chapter 13 bankruptcy, as compared to a Chapter 7 bankruptcy. Each Atlanta Chapter 13 lawyer at our firm has the experience needed to analyze your financial situation and build a viable repayment plan when you qualify for this bankruptcy option.
Excellent planning is the key to a successful Atlanta Chapter 13 filing
Under Chapter 13, you must qualify and have a solid repayment plan. Some of the Chapter 13 requirements include:
- Specific limitations govern the amount of secured and unsecured debt that you can have to qualify for Atlanta personal bankruptcy under Chapter 13. These limitations change to adjust to the change in the consumer price index.
- If your monthly income is greater than Georgia’s median income, your repayment plan must be for five years. You are not permitted to have a repayment plan that exceeds the five-year period.
- Under a Chapter 13 bankruptcy, certain priority claims must be paid off first through your repayment plan. For example, past-due child support or tax bills must be paid off in full through your repayment plan.
Berry & Associates knows the details of Atlanta’s complex bankruptcy laws. We will determine whether you qualify for a Chapter 13 bankruptcy and can help you create a repayment plan that meets all requirements and sets you up for success.
Our Atlanta Chapter 13 law firm can help identify when Wage Earner Bankruptcy is the best option
Chapter 7 may be a quick approach, but when you file for Chapter 13 bankruptcy in Atlanta, you can look forward to a brighter future. Chapter 13 is a good option for you if:
- You want to avoid foreclosure on your home
- You do not want your car repossessed
- You have significant equity in your home or other property that you want to keep
- You have regular income for your monthly expenses, but you are unable to keep up with your scheduled payments
- You are looking to protect co-signers
- You have a moral desire to pay off your debts
Let an experienced Atlanta Chapter 13 lawyer help you build a brighter future
You need an experienced law firm to handle your bankruptcy. Let Berry & Associates work with you to determine which bankruptcy option is best for your financial circumstances. Contact us today.