Developing effective debt repayment plans for consumers
For more than 80 years combined, our lawyers at Smith, Dettmering, Morgan, Schnatmeier & Collins, LLP have created successful debt relief solutions for consumers. Our dedicated attorneys review your case and we advise you about your options and the potential outcomes of each.
If Chapter 13 is the right choice in your individual situation, we thoroughly explain the bankruptcy time line and procedures so you know what to expect at each stage of the process.
Asset protection under Chapter 13 bankruptcy plan
Debtors who are not eligible under the means test for Chapter 7 may file for Chapter 13 bankruptcy. In addition, some debtors benefit more from filing Chapter 13 in Georgia than filing under the Chapter 7 provisions of the U.S. Bankruptcy Code. The Chapter 13 provision permits debtors to pay back all or part of their debts under a court-ordered plan over a specific period of time, typically three to five years. Debts are adjusted to reflect the income of the debtor — who is allowed to keep property, as opposed to under the Chapter 7 codes that call for the liquidation of assets. Our bankruptcy lawyers arrange a strategic plan that satisfies legal requirements, institutes a reasonable payback schedule and preserves your assets.
Stopping creditors from collections
As soon as you file your petition with the bankruptcy court, creditors must stop collection efforts. This includes the barrage of phone calls and letters you are likely subjected to on a daily basis. Also prohibited are any attempts to foreclose on your home, evict you from your property or repossess your automobile or other personal property.
Homeowners may benefit from Chapter 13 bankruptcy in Georgia
Homeowners who are at risk of losing their homes to foreclosure may benefit from Chapter 13 bankruptcy laws. Banks are not permitted to begin or continue with foreclosure proceedings as soon as the homeowner files a petition with the bankruptcy court. We can save your home and negotiate with financial institutions to give you the opportunity to provide your delinquent mortgage payments at a more manageable monthly amount.
Learn more about filing for Chapter 13 bankruptcy from our experienced attorneys in Marietta, Georgia
Learn more about your debt relief options from our experienced bankruptcy lawyers. Call Smith, Dettmering, Morgan, Schnatmeier & Collins, LLP at 770.771.5097 or contact us online.