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770-609-1247 | Chapter 13 Personal Bankruptcy

Call 770-609-1247 to Speak With an Experienced Cumming, Georgia Bankruptcy Attorney.

Quality of service and competence matters. We have over ten years of experience helping hundreds of people and businesses deal with crushing debt. Under the bankruptcy code you can obtain immediate debt relief. Let us help you.

A Chapter 13 Personal Bankruptcy, is a kind of bankruptcy filed by individuals (one person or a married couple) that plans an organized schedule for the debtor(s) to catch up back payments while still keeping valued assets – such as a home, real property, investments and/or automobiles. It is important to note, only individuals can file Chapter 13 cases, business seeking similar relief would have to file a Chapter 11 case.

The Chapter 13 bankruptcy plan is created to map out how the debtor(s) plan to repay creditors over a certain amount of time (three to five years). The Chapter 13 bankruptcy plan is presented in court and to the Bankruptcy Trustee for approval. Creditors and the Bankruptcy Trustee can object to the approval (confirmation) of the Bankruptcy Plan – and a Bankruptcy Judge may have to personally review the plan and either approve or deny the plan. After the Bankruptcy Court’s approval, the Chapter 13 trustee assigned to the case is now responsible to facilitate the process of gathering the debtor(s)’ monthly payments and allocating them among the creditors that filed approved proof of claims.

A Chapter 13 can only be filed by those who have regular income, a secured debt not exceeding $1,149,525 (as of April 2013), and unsecured debts not exceeding $383,175.00 (as of April 2013). If the debtor(s)’ income is lower than the region’s median income, then the plan is typically three (3) years. And if the debtor(s)’ personal income is higher than the median income, then the Chapter 13 plan will usually be five (5) years in length. There are some instances where a person that qualifies for a three year plan may opt for a five year plan; and someone that would normally qualify for a five year plan may opt for a three year plan. However, like all bankruptcy plans – the court grants final approval. Federal bankruptcy law forbids any Chapter 13 payment plan to exceed five years.

Several advantages allow a Chapter 13 to be preferable to a Chapter 7 of liquidation. For example, in a successful Chapter 13 case, the debtor(s) can prevent keep their homes from going to foreclosure. However, as a part of a successful Chapter 13 plan, they must still make all mortgage payments in a timely fashion. Also, individuals can rearrange secured debts so that they can plan them out over the time span of the Chapter 13 plan, which may reduce the monthly payments. This is most common with automobiles and other types of installment loans. Also, benefiting from the automatic stay, debtors are protected from direct contact with creditors because of the role of the Chapter 13 trustee in the case. Finally, many types of debts that are not dischargable in a Chapter 7 bankruptcy case may be dischargable in a Chapter 13 case. These include, but are not limited to: Non-Support Obligations Owed to an Ex-Spouse and “Willful and Malicious Injury” claims.

Coleman Legal Group, LLC handles cases in the following cities and communities: Atlanta, Alpharetta, Roswell, Johns Creek, Milton, Cumming, Marietta, Sandy Springs, Woodstock, Kennesaw, Gainesville, Norcross, Lawrenceville, Midtown, Inman Park, Duluth, Buckhead, Dunwoody, Vinings and Smyrna.

Our attorneys frequently handle cases for clients residing in the following counties: Fulton, Gwinnett, Forsyth, Cobb, DeKalb, Henry, Cherokee, Douglas, Carroll, Coweta, Paulding, Bartow, Hall, Barrow, Walton, Newton, Rockdale, Henry, Spalding, Fayette and Clayton.

Coleman Legal Group, LLC’s Georgia lawyers practice in the areas of Bankruptcy, Divorce, Family Law, Immigration and Business Law. We have two convenient offices located at:

Alpharetta Georgia Office
5755 North Point Parkway
Suite 52
Alpharetta, GA 30022

Atlanta Georgia Office
Studioplex
659 Auburn Avenue Northeast
Atlanta, GA 30312

Copyright © 2013 | Coleman Legal Group, LLC | All Rights Reserved. Coleman Legal Group, LLC • 5755 North Point Parkway, Suite 52 • Alpharetta, GA 30022 • 770-609-1247 DISCLAIMER: The information you obtain at this site is not, nor is it intended to be, legal advice. You should consult an attorney for individual advice regarding your own situation.

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