Chapter 13 Bankruptcy

SKILLED LAWYERS ASSISTING WITH CHAPTER 13 BANKRUPTCY IN ALBANY, GA

If you think that with some additional time and negotiating power you’ll be able to meet outstanding financial liabilities, then this provision may be right for you. Sometimes called the "wage earner plan," Chapter 13 bankruptcy gives you the opportunity to use your income to catch up on payments by stretching them across three to five years. Individuals and married couples (including business owners with work-related financial obligations) may apply; business entities, stockbrokers and commodity brokers may not. If unsecured debt is less than $360,475 and secured liabilities are below $1.8 million, an Albany, Georgia-based Custer, Custer & Clark LLC Chapter 13 attorney can guide you through this process.

THE BENEFITS OF FILING

Filing gives you the freedom to put back taxes, mortgage payments and other outstanding obligations into one consolidated sum, canceling such by paying interest-free monthly installments. Due to the “automatic stay” protection under this act, creditors can no longer:


  • Demand garnishments 
  • Tap into bank accounts
  • Cut off utilities
  • Halt welfare benefits
  • Repossess vehicles (If a car was taken before the filing, ownership can often be restored if it has not yet been sold at auction.)
  • Foreclose on homes

Employment earnings and other sources of income, such as child support and alimony benefits can be used to make payments. Second and third mortgages may be canceled entirely.

SERVING ALL SOUTHWEST GEORGIA

A knowledgeable Albany, Georgia Chapter 13 lawyer can help you along the road to a new financial life. Although the process is involved and takes time, bankruptcy gives you the means to recover from difficulties that may be no fault of your own.

To learn how you can eliminate debt, call Custer, Custer & Clark LLC at 229-888-1105 to schedule a free consultation.

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