A Skilled Bankruptcy Lawyer in Atlanta Explains 12 Reasons To

A Skilled Bankruptcy Lawyer in Atlanta Explains 12 Reasons To File A Chapter 13 Bankruptcy In Atlan

There are two types of consumer bankruptcy you can file in Atlanta - Chapter 7 and Chapter 13. You likely know that the main benefit of filing for Chapter 7 is your credit card and unsecured debt goes away. But take a look at Chapter 13 bankruptcy and you may find it's a better option.

Here are 12 reasons for filing Chapter 13 in Atlanta:


1. Chapter 13 is flexible - At any point, you can either convert the case to Chapter 7 or dismiss it. Moreover, you can modify the payment plan if you have a change in income or decide to give up a house or car. And you can refinance or sell your house during the administration of the plan.


2. If you are facing foreclosure because of non-payment, you can include these past due payments in your plan and save your house. This gives you the entire length of the plan to get those payments caught back up.


3. If you have an 'unsecured' second mortgage, you can use Chapter 13 to remove it from your home.


4. You can challenge the costs added to your mortgage by the lender.


5. You can include debts that are not allowed in a Chapter 7 like some divorce payments.


6. Trustees want you to succeed, so they will cooperate with you.


7. Reaffirming your car isn't necessary in order to keep it.


8. The fee you pay your attorney can be spread out rather than being paid in full before you file.


9. You will have up to 5 years to get caught up on past due taxes or child support/alimony obligations.


10. Secured debt such as car payments can be extended.


11. A Chapter 7 case can be challenged by a United States Trustee based on your income; a Chapter 13 case cannot.


12. You will not lose any of your property, regardless of whether it is exempt.


It's a sad fact that there is still a negative connotation associated with bankruptcy. But the fact remains - declaring bankruptcy is a compelling way to make a fresh start, to clean the slate, so to speak. You need to speak to a professional somekeyword so you know the pros and cons of Chapter 7 and Chapter 13 bankruptcy. Only a somekeyword with a great deal of bankruptcy law experience can answer your questions and tell you how filing bankruptcy will affect your life.somekeyword somekeyword somekeyword somekeyword