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When Chapter 13 Bankruptcy May Be The Right Choice

Chapter 13 bankruptcy is often considered a repayment plan, rather than a way of removing debt. Usually, this happens over 3-5 years and involves the debtor making payments to a third-party trustee, who then administers payments to creditors. After the court has approved the repayment plan, creditors must stop attempting their collection efforts.

If you’re facing insurmountable debt and looking for a way out, the attorneys at Sellers & Mitchell, P.C. can help. We will listen to the details of your situation and help you discern whether Chapter 13 is the right filing for you. Our legal team can help free you from your debts and build a stronger financial future.

Why You May Be Eligible

You may be eligible for Chapter 13 bankruptcy if:

  • Your monthly income is more than the median income for a household of your size in Georgia
  • Your disposable income after your basic expenses have been paid is greater than certain legally-determined limitations
  • You can still make payments on your loans, but need an extended amount of time to repay your debt

There are a variety of factors that contribute to which bankruptcy filing is right for you. Ultimately, Chapter 13 bankruptcy can help you retain some assets, especially nonexempt property that may be liquidated if you file for Chapter 7 bankruptcy. However, you must still be able to pay for these assets. Oftentimes, debt for nonexempt property you intend to keep remain part of your debt and payments you make are distributed by the trustee in charge of your case.

Speak To Your Legal Advocate Today

The thought of filing for bankruptcy can be overwhelming and many people don’t know where to start. At Sellers & Mitchell, P.C., we make time to go through all of your questions with patience and honesty, so you feel prepared from the first step of filing to the last. It’s important to us that you understand you’re not alone. Our lawyers are experienced, knowledgeable and trustworthy advocates who are passionate about helping people create a brighter future after financial struggle.

You can call our firm in Thomasville, Georgia today at 229-226-9888 or send us a message online for a free consultation.