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Category Archives: Chapter 7 Bankruptcy

Guidelines for Bankruptcy Filers Affected by Natural Disasters

Unfortunately, large-scale natural disasters affected hundreds of thousands of Americans in 2017. The Federal Emergency Management Agency (FEMA) reported an historic year of natural disasters. FEMA reported that disasters affected 8% of the U.S. population in 2017.

Inevitably some people filing for bankruptcy protection will be affected by natural disasters. The United States Trustee Program has released considerations that “shall” guide the enforcement activities of bankruptcy trustees in the event of a natural disaster.

Document Requirements

The inability of a debtor to provide required documents because of a natural disaster will not be a barrier to bankruptcy relief.

“United States Trustees shall not file enforcement motions against debtors who are unable, as a result of a natural disaster, to file or produce documents required by the Bankruptcy Code, if they otherwise are eligible for bankruptcy relief. Further, United States Trustees should generally not oppose any reasonable requests filed with the court by debtors seeking relief from filing requirements due to a natural disaster.”

Means Test

When a debtor earns more income than the state’s median income, adjusted for household size, in the six months leading up to filing bankruptcy, there is a presumption of abuse that must be overcome. This presumption can be overcome by running the Means Test and demonstrating that relief under Chapter 7 bankruptcy is warranted.

For debtors who are affected by natural disasters, the bankruptcy trustee is to “consider the adverse impacts of a natural disaster,” and has discretion in deciding whether to file an objection to the bankruptcy.

“In determining whether to file an enforcement action on grounds of presumed abuse, United States Trustees shall consider the adverse impacts of a natural disaster, including a major decline in anticipated income or a major increase in anticipated expenses, to constitute “special circumstances” for purposes of rebutting the presumption of abuse.”

Attendance at the Meetings of Creditors

With rare exception, every person who files for bankruptcy protection must attend a Meeting of Creditors, also known as a “341 Hearing.” While debtors who have been affected by a natural disaster must still attend the Meeting of Creditors, they may be able to do so in a remote or alternate location. Debtors are still required to be sworn in and to show acceptable personal identification.

When, due to a natural disaster, debtors are unable to appear personally in the district where the case is filed for the mandatory section 341 meeting of creditors, United States Trustees shall exercise flexibility and offer alternative means for attendance. The debtors, however, must be able to present acceptable personal identification to the individual administering the oath in the alternate location.”

Know that if you have been affected by a natural disaster and have filed bankruptcy or are about to file for bankruptcy, the United States Trustee Program has enforcement guidelines in place to help you.

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The Law Office of Barbara B. Braziel helps people get out of debt. We offer free consultations to people of Savannah, GA and the surrounding areas, including Richmond Hill, Hinesville, Pooler, Port Wentworth, Tybee Island, Clyo, Ellabel, Midway, Ludowici, Springfield, Pembroke, Brooklet, and Garden City.

We are a debt relief agency. We help people file for bankruptcy relief under the U.S. Bankruptcy Code.

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Why Are Some Creditors Paid in Bankruptcy While Some Are Not?

Just as some debts are treated differently in bankruptcy – some debts can be discharged (erased) in bankruptcy and some cannot – so too are creditors treated differently in bankruptcy.

Whether or not a creditor will be paid in bankruptcy depends on the type of debt, the chapter of bankruptcy filed, and whether the debtor has unexempt assets.

  • In a no asset Chapter 7 case there are no funds, nothing for the trustee to seize and sell, so there is nothing to pay creditors.
  • In a Chapter 13 a repayment plan is created, and creditors will be paid in a certain order of priority. Some creditors may be paid in full while some creditors are paid only a portion of what they are owed, or nothing at all.

 

The U.S. Bankruptcy Code sets forth the order of priority established for creditors who are owed money. 11 U.S.C. § 507. Some creditors will be paid before others, if creditors are paid at all. Creditors are divided by classes, and each class is paid in full before the next class is paid. If there is not enough money to pay each creditor in a class in-full, then each member of that class will receive a pro-rata share of the amount they are owed.

Creditors are paid in the following order of priority:

  • The bankruptcy trustee assigned to administer the case.
  • Unsecured Priority Claims
    • Domestic support obligations – any back spousal or child support obligations owed at the time the bankruptcy case is filed.
    • Certain income tax debts.
    • Criminal fines.
  • Secured Creditors
    • Creditors who hold a lien on property in the possession of the debtor, such as a mortgage lender or car note lender.
    • In a Chapter 13 plan a debtor may pay back mortgage arrears or missed car payments in full during the life of the plan.
  • Unsecured Nonpriority Claims
    • Credit card debts.
    • Medical debts.
    • Personal loans and student loans.

 

Unsecured nonpriority claims are last to be paid back from funds distributed from liquidating assets in a Chapter 7 or from Chapter 13 plan payments. These creditors may be paid back in full, or partially based on a pro-rata share, or not at all.

Working with Our Law Office

The bankruptcy team at The Law Office of Barbara B. Braziel  are committed to helping people get out of debt and gain the financial freedom they deserve. All we do is bankruptcy law. We invite you to learn more about who we are here. If you live in Savannah, GA or the surrounding areas and have questions about your debt relief options, let’s meet for a free consultation.

Please reach out to us at (912) 351-9000 or contact us by filling out this simple web form.

 

We are a debt relief agency. We help people file for bankruptcy relief under the U.S. Bankruptcy Code.

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Documents You Must Gather Before Filing Bankruptcy

The majority of people who file for bankruptcy don’t want to. Though, they realize that their debt is out of control and that filing for bankruptcy is the right choice to take control of their finances and get out of debt. Filing for bankruptcy is a serious financial decision, but it may be the best financial decision.

When you file for bankruptcy there are a few things that you must do. One of your responsibilities is to gather the necessary documents. There are documents that the bankruptcy trustee will require, and there are documents that your attorney will need to complete your bankruptcy petition and schedules.

For some people one of the most daunting tasks in the bankruptcy process is gathering the necessary documents. If this is your experience, our advice is to take it one document at a time. You do not have to find all of them at once.

Documents You Must Gather Before Filing Bankruptcy

  • 6 months of pay stubs;
  • 6 months of documentation of other sources of income (if applicable);
  • 6 months of profit & loss statements (if self-employed or you own a business);
  • Copies of your bills and documentation of other debts you owe;
  • Copy of your most recent mortgage statement(s);
  • Copy of your most recent car loan statement(s);
  • Copy of your federal and state income tax return or a transcript of the return, for the most recent filed year ending immediately before your case is filed;
  • Copies of paperwork in regard to: pending lawsuits, wage garnishment, bank levies, foreclosure on real property, or repossession notices;
  • List of all bank and credit union accounts;
  • Record of any interest you have in an individual educational retirement account or under a qualified state tuition program; and
  • Certificate of completion for pre-filing credit counseling.

With the above documents your attorney will be able to complete your bankruptcy petition and schedules, or at least the majority thereof.

Our Bankruptcy Law Firm Offers Free Consultations

All of us here at the Law Offices of Barbara B. Braziel are here to help you end your financial struggle and gain financial freedom. We offer free consultations. Contact us at (912) 351-9000 today!

 

We proudly serve the people of Savannah, GA and the surrounding areas, including Richmond Hill, Hinesville, Pooler, Port Wentworth, Tybee Island, Clyo, Ellabel, Midway, Ludowici, Springfield, Pembroke, Brooklet, and Garden City.

We are a debt relief agency. We help people file for bankruptcy relief under the U.S. Bankruptcy Code.

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Switching Chapters: Converting Your Bankruptcy Case From One Chapter to Another

The two common chapters of bankruptcy that individuals and married couples file are Chapter 7 and Chapter 13. Both offer many of the same benefits, though they operate very differently. Which chapter is the right debt relief solution for you is specific to the facts of your case.

Chapter 7 bankruptcy is generally the quickest form of bankruptcy, erases all or most of your debts, without a repayment plan, and in general allows you to keep most or all of your personal belongings.

Chapter 13 bankruptcy is a reorganization of debts, creates a three to five year repayment plan, and also allows you to keep most or all of your personal belongings. The Chapter 13 repayment plan gives you a chance to catch up on mortgage arrears, missed car payments, back taxes, and other debts. To qualify, you must have a steady source of income.

Switching Chapters: Converting Your Bankruptcy Case From One Chapter to Another

If your situation changes after filing for bankruptcy, you can ask the court to convert (to switch) your case to another bankruptcy chapter. You must meet the eligibility requirements of the new bankruptcy chapter and get court approval for the conversion.

To ask the bankruptcy court permission to convert from one chapter of bankruptcy to another, your bankruptcy attorney will file a motion with the court. So long as you qualify, have good reason to convert your case, and the court believes you’re not using the system inappropriately, then the judge should likely grant your motion for case conversion.

Converting from Chapter 13 to Chapter 7

A Chapter 13 plan lasts for three to five years, depending on your specific case. A lot can happen during that time. If you lose your ability to pay the monthly plan payment, then you may decide converting to a Chapter 7 is best. Or, perhaps you are catching up mortgage arrears in your Chapter 13 plan, and you later realize you truly cannot afford to keep your house, then converting to a Chapter 7 may be worth exploring.

Converting from Chapter 7 to Chapter 13

You may consider switching from Chapter 7 to Chapter 13 bankruptcy for a number of reasons. For example, if the bankruptcy trustee plans to sell property that cannot be exempt (protected) in bankruptcy, you can convert your case to a Chapter 13 and pay for your unexempt property through your plan. Or, perhaps you had a difficult time passing the means test prior to filing and you fear the bankruptcy trustee may move to dismiss your Chapter 7 case.

It is not uncommon for a debtor’s situation to change after filing for bankruptcy, which would warrant a case conversion. Also, in some cases, new information is discovered during the bankruptcy which makes converting the case a wise decision. The bankruptcy court is likely to approve your first request for a case conversion so long as the conversion is done in good faith and you qualify for the new chapter of bankruptcy you’re seeking.

If you are in bankruptcy and are wondering if converting to a different chapter is the right move, we urge you to contact your bankruptcy attorney to discuss the details of your case.

Free Bankruptcy Consultation

Here at the Law Office of Barbara B. Braziel we offer free consultations to anyone in Savannah, GA and the surrounding area. We are knowledgeable and experienced attorneys who specialize in bankruptcy and debt relief. We have over 35 years of experience. We’ve helped thousands of people get out of debt and have the fresh financial start they deserve.

Contact us here or call (912) 351-9000 to schedule your free consultation.

 

We are a debt relief agency. We help people file for bankruptcy relief under the U.S. Bankruptcy Code.

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Chapter 7 Facts

Chapter 7 bankruptcy helps people get out of debt while keeping most or all of their personal belongings and other assets. It is generally the quickest and simplest chapter, and is typically completed in four to six months. Unlike a Chapter 13, a chapter 7 bankruptcy does not require a repayment plan.

With the help of an experienced bankruptcy attorney filing for Chapter 7 bankruptcy relief can be a smooth process. As you explore solutions to your debt problem, it is important to understand the facts about Chapter 7 and Chapter 13 bankruptcy.

Chapter 7 Facts

  • Chapter 7 is known as the “liquidation” chapter because the bankruptcy trustee can sell nonexempt assets and use the proceeds to pay back a pro-rata share to qualifying creditors.
    • However, that rarely happens.
    • The majority of Chapter 7 bankruptcies are “no asset” cases where the debtor (the person who files for bankruptcy protection) has no assets that are not protected by bankruptcy law.
  • While you are in bankruptcy the law forbids creditors from continuing collection efforts.
    • As soon as you file for bankruptcy protection all collection actions against you must stop, including collection calls, lawsuits, wage garnishments, bank levies, and even foreclosure and repossession.
    • In general, if a creditor wants to move forward with a foreclosure or repossession during bankruptcy it must petition the court for permission.
  • Eligibility for Chapter 7 bankruptcy includes income requirements:
    • An individual or married couple automatically qualifies for Chapter 7 bankruptcy if their current monthly income (based on the six months before filing) falls below the state median, adjusted for household size.
    • If the debtor’s current monthly income is greater than the state median, adjusted for household size, then they must run the bankruptcy means test to determine whether they qualify for Chapter 7 bankruptcy.
      • The means test is a review of your income minus allowable expenses.
      • Many people who file for Chapter 7 bankruptcy earn above the median income.
      • An experienced bankruptcy attorney can help you navigate through the means test.
    • Eligibility for Chapter 7 bankruptcy does not include a debt limit or ceiling.
    • Chapter 7 bankruptcy erases dischargeable debts.
      • Dischargeable debts are debts that can be erased in bankruptcy; nondischargeable debts are debts that cannot be erased in bankruptcy.
      • The most common dischargeable debts include: credit cards, medical bills, personal loans, utility bills, certain older tax debts, and other types of credit or loans that were given without a collateral requirement.

 

Filing for Chapter 7 bankruptcy can give you a fresh financial start. It can be your chance to get your financial life in order. Once you are out from under the burdensome weight of debt, you are empowered to make wise financial decisions for your future.

We Will Help You Through Your Chapter 13 From Start to Finish

It is our mission to ensure that you understand the power and benefits of Chapter 7 bankruptcy. Filing for bankruptcy is a serious financial decision. If you are feeling apprehension about the process, we understand. Know that if you hire us to file your bankruptcy case, we will be by your side from start to finish. We will prepare your bankruptcy petition, file it with the court, and assist you until the end of your case.

Contact us to explore how bankruptcy can help you! We offer free consultations to anyone in or around Savannah, GA looking to explore how to get out of debt.

Reach out to us by email at info@BrazielLaw.com or call (912) 351-9000.

 

We are a debt relief agency. We help people file for bankruptcy relief under the U.S. Bankruptcy Code.

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“No Asset” Chapter 7 Bankruptcy

Chapter 7 bankruptcy erases all or most of your debts, without a repayment plan, and in general allows you to keep most or all of your assets and other belongings.

When you file for bankruptcy it creates a “bankruptcy estate,” which is your interest in your property and assets at the time you file. The Bankruptcy Trustee assigned to administer your case is given control of the bankruptcy estate. Though, this is not as frightening as it may sound.

While the Bankruptcy Trustee has the power to seize and sell assets, then use the proceeds to pay a pro-rata share to certain of your creditors, so long as all of your assets, property, and other belongings are listed, properly valued, and exempt in the bankruptcy petition, there is no risk of losing assets.

“No Asset” Chapter 7 Bankruptcy

A “no asset” Chapter 7 bankruptcy means that the debtor does not have assets that can legally be seized, so the Trustee has nothing he or she can seize and sell. It does not mean that the debtor has no assets, it means that debtor gets to keep all of their assets through the bankruptcy process.

When you file for bankruptcy you must list all of your assets, property, and belongings and then assign a fair market value to the item. The U.S. Bankruptcy Code, as well as the state of Georgia, carves out exemptions that allow you to protect property and assets valued up to a certain dollar amount. Exemptions are available for your home, car, personal belongings, retirement accounts, and other assets. If an asset is “exempt,” it cannot be taken by your creditors or by the Bankruptcy Trustee to pay back your creditors.

When all of your property and assets are fully exempt, then you have a “no asset” Chapter 7 case. The vast majority of Chapter 7 cases are “no-asset” cases.

Will I Know if I Have a “No Asset” Chapter 7?

Yes, prior to filing you will know if you have a “no asset” case, or if you have assets that may be subject to seizure and sale by the Bankruptcy Trusty. Again, as long as you disclose all of your assets prior to filing and properly value them, you will know if you have any assets at risk of being liquidated.

When you work with our firm we will help you list your assets and assign the appropriate fair market value to each item.

Free Consultation with a Bankruptcy Attorney

Here at the Law Office of Barbara B. Braziel we help people get out of debt. We are the premier bankruptcy law firm in Savanna, GA and we practice exclusively in bankruptcy law. Our experienced attorneys are committed to ensuring you understand the protections and benefits of bankruptcy and how filing with affect you and your family. We take the time to explain the bankruptcy process to our clients. We invite you to get to know us here and read about the clients we’ve helped here.

Call us today at (912) 351-9000 or contact us to schedule a free consultation.

 

We proudly serve the people of Savannah, GA and the surrounding areas, including Richmond Hill, Hinesville, Pooler, Port Wentworth, Tybee Island, Clyo, Ellabel, Midway, Ludowici, Springfield, Pembroke, Brooklet, and Garden City.

We are a debt relief agency. We help people file for bankruptcy relief under the U.S. Bankruptcy Code.

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What Are The Protections and Benefits of Bankruptcy?

For many of our clients bankruptcy at first feels like a scary thing, but once they understand the protections and benefits of bankruptcy they feel much more comfortable with their decision to file. Bankruptcy is a financial decision and a powerful legal tool.

The Benefits of Bankruptcy

Bankruptcy offers a number of benefits. The main benefit is relief from debt. Bankruptcy has the power to eliminate debts, including credit cards, medical bills, certain older tax debts, personal loans, and other types of credit or loans that were given without a collateral requirement. After a successful filing you are no longer legally obligated to pay back your dischargeable debts.

Also, bankruptcy allows you to erase debts while retaining most or all of your assets and personal belongings. For example, ERISA qualified retirement accounts are fully protected in bankruptcy. Also, depending on your specific situation you will most likely be able to keep your car and your home. Generally speaking, it is more likely that you can keep your car or home if your payments are current and you do not have significant equity.

The Protections of Bankruptcy

The United States Bankruptcy Code affords people who need to file many protections, including:

  • The Automatic Stay: a provision in the U.S. Bankruptcy Code that makes it illegal for creditors to attempt to collect on debts from a person who has filed for bankruptcy protection. The Stay becomes effective immediately, as soon as the bankruptcy case is filed.
    • Stops collection phone calls.
    • Stops wage garnishments, bank levies, and lawsuits for unpaid debts.
    • Stops, at least temporarily, foreclosure, repossession, and eviction.
  • Protection of property: Bankruptcy law protects exempt property from being seized and sold by creditors. As noted above, the majority of people who file get to keep most or all of their assets and belongings.
  • Catch up on mortgage arrears or missed car payments: Chapter 13 bankruptcy creates an opportunity for debtors to catch up on missed mortgage or car payments. Through the Chapter 13 repayment plan, which lasts three to five years, missed payments can be made up. This option enables people to retain their home or car that would otherwise be lost.

 

The full scope of the legal protections bankruptcy offers is vast. We invite you to come in for a free consultation to learn more about the protections and benefits of bankruptcy.

We Can Help You Get Out of Debt

Here at the Law Office of Barbara B. Braziel we help people get out of debt. We are the premier bankruptcy law firm in Savanna, GA and we practice exclusively in bankruptcy law. Our experienced attorneys are committed to ensuring you understand the protections and benefits of bankruptcy and how filing with affect you and your family. We invite you to get to know us here and read about the clients we’ve helped here.

Call us today at (912) 351-9000 or contact us to schedule a free consultation.

 

We are a debt relief agency. We help people file for bankruptcy relief under the U.S. Bankruptcy Code.

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What Type of Bankruptcy Should I Consider?

If you are exploring if filing for bankruptcy protection is right for you, you may be wondering what type of bankruptcy is right for you. The United States Bankruptcy Code creates “chapters” of bankruptcy:

  • Chapter 7: Liquidation Under the Bankruptcy Code
  • Chapter 9: Municipality Bankruptcy
  • Chapter 11: Reorganization Under the Bankruptcy Code
  • Chapter 12: Family Farmer Bankruptcy or Family Fisherman Bankruptcy
  • Chapter 13: Individual Debt Adjustment
  • Chapter 15: Ancillary and Other Cross-Border Cases

 

As an individual or married couple, you are most likely to file Chapter 7 or Chapter 13 bankruptcy. While both chapters offer many of the same benefits, there are significant differences between what these two chapters offer and how they operate.

Bankruptcy is a complex area of law. When you hire our firm to represent you, we will strive to make the process as smooth as possible.

Considering Chapter 7 or Chapter 13 Bankruptcy

Chapter 7 bankruptcy erases all or most of your debts, without a repayment plan, and in general allows you to keep most or all of your personal belongings. Chapter 13 bankruptcy is a reorganization of debts, creates a three to five year repayment plan, and also allows you to keep most or all of your personal belongings.

Filing for Chapter 7 bankruptcy is generally the quickest and simplest form of bankruptcy. In general it takes only four to six months to complete. Though, there are benefits that Chapter 13 offers that Chapter 7 does not. These benefits include an opportunity to make up missed mortgage payments, make up missed car payments, and to “lien strip” an underwater second mortgage.

Both Chapter 7 and 13 are powerful tools to get you out of debt. Both chapters also have the power to stop collection action against you, including harassing phone calls, wage garnishments, bank levies, and lawsuits for unpaid debts.

Learn More About How Bankruptcy Can Help You

When we meet for a free consultation we will go over the pros and cons of the various chapters and help you determine which chapter is best for you. Our goal is to ensure you understand the different chapters of bankruptcy and how filing will affect you and your family.

At the Law Offices of Barbara B. Braziel we file hundreds of Chapter 7 and 13 bankruptcy cases every year. But our clients are never just a number. You will not be left in the hands of a paralegal. You will have access to your attorney throughout your bankruptcy case.

We are here to give you the fresh start you deserve. Call us today at (912) 351-9000 or contact us via the web to schedule a free consultation.

 

We are a debt relief agency. We help people file for bankruptcy relief under the U.S. Bankruptcy Code.

READ MORE

Savannah Bankruptcy Attorney

If you are exploring how bankruptcy can help you get out of debt, we invite you to meet with us for a free consultationcontact us on the web or call (912) 351-9000 today!

We are the premiere bankruptcy law firm in Savannah, Georgia. The Law Office of Barbara B. Braziel proudly serves the people of Savannah, GA and the surrounding areas, including Richmond Hill, Hinesville, Pooler, Port Wentworth, Tybee Island, Clyo, Ellabel, Midway, Ludowici, Springfield, Pembroke, Brooklet, and Garden City.

Relief from Your Financial Burdens

Bankruptcy is a powerful tool that can erase your debts. While choosing to file may be a difficult decision, it may be the best decision for your financial future.

We have been practicing bankruptcy law for over 35 years and often we have met clients who delayed filing until their situation became far worse than it needed to be. In many cases people spent thousands of dollars trying to avoid a bankruptcy that they ultimately needed to file anyway.

Sadly, many of our clients lost assets that they would have been able to keep if they had filed for bankruptcy sooner. Many borrowed against retirement in an attempt to manage their debt and stave off collection. In general retirement accounts are fully protected in bankruptcy. Others took out Home Equity Lines of Credit (HELOC) to pay off some creditors and ultimately risked losing their house to foreclosure.

Powerful and Positive Impacts of Bankruptcy

Our firm has helped thousands of families keep their cars, their homes, and other belongings. Erasing debt, halting all collection action, and protecting your belongings from creditors are just a few of the powerful and positive impacts bankruptcy offers. Bankruptcy can also erase certain older tax debts, give you the opportunity to catch up on missed mortgage or car payments, and can even lien strip away an underwater second mortgage.

Savannah Bankruptcy Attorney

All of us here at the Law Offices of Barbara B. Braziel are committed to helping people get out of debt and gain the financial freedom they deserve. We invite you to learn more about who we are here. If you live in Savannah, GA or the surrounding areas and have questions about your debt relief options, let’s meet for a free consultation.

Please reach out to us at (912) 351-9000 or contact us by filling out this simple web form. Follow us on Facebook for tips on getting out of debt!

 

We are a debt relief agency. We help people file for bankruptcy relief under the U.S. Bankruptcy Code.

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How Chapter 7 Differs from Chapter 13

Chapters 7 and 13 bankruptcy are designed for individuals and families. Both chapters offer many of the same benefits. However, there are significant differences between what these two chapters offer and how they operate.

The “chapters” come from the United States Bankruptcy Code, and the numbers represent the code sections.

Overview of How Chapter 7 Differs from Chapter 13

  • Chapter 7 bankruptcy erases all or most of your debts:
    • Without a repayment plan.
    • In general allows you to keep most or all of your personal belongings.
    • Is the quickest and simplest form of bankruptcy, typically taking four to six months to complete.
  • Chapter 13 bankruptcy is a reorganization of debts:
    • Creates a three to five year repayment plan.
    • Allows you to pay back all, none, or a portion of your debts.
    • In general allows you to keep most or all of your personal belongings.
    • Is more complex than Chapter 7, but offers additional benefits.

There are benefits and drawbacks to both Chapter 7 and 13 bankruptcies. When we meet for a free consultation we will go over the pros and cons of the various chapters and help you determine which chapter is best for you. Our goal is to ensure you understand the different chapters of bankruptcy and how filing will affect you and your family.

Both Chapters Offer Many of the Same Benefits

Chapter 7 and Chapter 13 are powerful legal tools to help you regain control of your financial wellbeing. Both chapters offer the following benefits:

  • Eliminates credit card debt, medical debt, and most unsecured debts.
  • Stops harassing phone calls from creditors.
  • Stops wage garnishments.
  • Stops lawsuits filed by creditors.

Benefits of Chapter 13 Not Offered In Chapter 7

Filing for Chapter 13 commits a debtor to a monthly plan payment for three to five years. Though, for some debtors filing for Chapter 13 is the best solution to their debt problems.

Chapter 13 bankruptcy can help you:

  • Save your house by creating an opportunity for you to pay back missed mortgage payments.
  • Prevent car repossession by creating an opportunity for you to catch up on missed car payments.
  • Creates an opportunity to catch up on other missed payments, like back taxes or back spousal or child support payments.
  • In some cases, a homeowner can “lien strip” or eliminate a second mortgage.

At the conclusion of the Chapter 13 bankruptcy, any remaining credit card debt, medical bills, or other unsecured debts, and some tax debts, are discharged. To qualify for Chapter 13 you must have a steady source of income, such as from a job, self-employment, a business, retirement income, or social security.

Bankruptcy is a Powerful Tool

Both Chapter 7 and Chapter 13 are powerful tools to help you get out of debt and get the fresh financial start you deserve.

At the Law Office of Barbara B. Braziel we file hundreds of Chapter 7 and 13 bankruptcy cases every year. But our clients are never just a number. You will not be left in the hands of a paralegal. You will have access to your attorney throughout your bankruptcy case.

Call us today at (912) 351-9000 or contact us via the web to schedule a free consultation.

 

We are a debt relief agency. We help people file for bankruptcy relief under the U.S. Bankruptcy Code.

READ MORE