If you file with the Georgia Northern District Bankruptcy court, you’ll see how complex the process can be. Who can help?
No matter your personal bankruptcy choice — Chapter 7 or Chapter 13 — you might wonder how a lawyer actually helps. With Chapter 7, it’s clear that the 341 meeting, where you’re asked questions and creditors can optionally participate, is about gathering information. If you fear you’ll lose assets, you may consider filing Chapter 13 Atlanta bankruptcy.
Why file Atlanta Chapter 13?
Since Atlanta as a city has very high foreclosure rates in the past years, Chapter 13 is being recommended by expert lawyers to help residents save their homes. Simply put, Chapter 13 bankruptcy is the best way to save your home. For Atlanta residents, there are details.
You must be eligible. You must create a repayment plan. And you will have to appear in court to explain your situation.
According to the U.S. government, “Any individual, even if self-employed or operating an unincorporated business, is eligible for chapter 13 relief as long as the individual’s unsecured debts are less than $360,475 and secured debts are less than $1,081,40.” Secured debt would be debt backed up with collateral,such as your home. Unsecured debt is the opposite: you are backing it up with nothing.
The debt management plan includes details on what creditors you owe money to, how you intend to pay, among other things. This will be how you intend to stay solvent on paper.
What does an Atlanta Chapter 13 lawyer do?
Say you want to know more about the process of Atlanta Chapter 13 bankruptcy. Who do you call? You can find information online, but you really need an experienced attorney to help with your case. For example, you may not be eligible for Chapter 13, but Chapter 7 is wise (or the other way around). Also, in Chapter 13, usually in about 30 days you have a 341 meeting with the U.S. trustee. An experienced attorney can help you in in the meeting and make sure your proposal for debt management is sound.
The attorney can do far more than answer questions. A good one will help you with the proposals, documentation, requirements, and save you time and money doing so.
How will creditors act?
Creditors are technically still going to get their money in most cases. If you have difficult creditors, an experienced Atlanta Chapter 13 attorney can handle them for you. They do have the option to appear with the trustee at the 341 meeting, but most don’t. You will rarely have any more dialogue with creditors you owe money to after any form of personal bankruptcy, usually during it too.
How do you get started?
To get started, you should hire an experienced attorney, prepare all necessary documentation, pay the fee for filing, and create a proposal for your debt management plan.
Is an Atlanta Chapter 13 bankruptcy lawyer really important?
Finally, the question may come up: can you do all this alone? Yes, you can. Even if you have legal experience, the paperwork, 341 meeting, creditors, and dangers of making mistakes, however, are far too great to ignore. Atlanta Chapter 13 bankruptcy will change your life, and is important for your financial future. Hiring an experienced attorney makes the process much easier.
