Filing Chapter 13 Bankruptcy in Atlanta An Experienced Atlanta Bankruptcy

Filing Chapter 13 Bankruptcy in Atlanta An Experienced Atlanta Bankruptcy Lawyer Outlines 12 Reaso

If you are exploring bankruptcy, you probably know about the two main types of consumer bankruptcy 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. However, you may not know the reasons why a Chapter 13 bankruptcy may be the right choice for you.

The following 12 reasons to file Chapter 13 in Atlanta are worth a look:


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


2. If you have fallen behind on your mortgage payments and are facing foreclosure, you can include your past due payments in the plan and save your house from foreclosure. Putting past due payments in the plan gives you the chance to catch up since you have until the end of the plan to make those payments.


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. You don't have to pay your attorney's fees up front; you can pay them over time.


8. You can keep your car without having to reaffirm it.


9. Payments like car payments or other secured debt can be extended.


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


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


12. Your property will not be taken away, whether it is exempt or not.


There is still a stigma of failure attached to filing for 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. You will likely have a lot of questions about how filing bankruptcy will affect you, your livelihood and your future. Be sure to find a somekeyword who focuses on bankruptcy law so he can answer all your questions.somekeyword somekeyword somekeyword somekeyword