Chapter 13

Bankruptcy Guidance

Trusted Chapter 13 Bankruptcy Attorney in Atlanta

Are you currently experiencing financial hardships due to unexpected expenses or overwhelming debts? Are you haunted by the fear of losing your home or other valuable assets? If you’re seeking a solution to restructure your debt, protect your assets, and gradually repay what you owe, Chapter 13 bankruptcy may be the answer you’ve been looking for. At Reidy Law Firm, LLC, we understand the challenges you’re facing, and our Atlanta Chapter 13 bankruptcy attorney is here to guide you through the process with personalized and compassionate assistance.

We offer comprehensive Chapter 13 bankruptcy guidance in Cherokee, Clayton, Cobb, DeKalb, Douglas, Forsyth, Fulton, Gwinnett, Paulding, Rockdale, and all of North Georgia.

Take the first step towards a debt-free future by calling (678) 993-9554 or contacting us online.

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What is Chapter 13 Bankruptcy?

Chapter 13 bankruptcy is a legal avenue that allows individuals with regular income to reorganize their debts and develop a feasible repayment plan spanning three to five years. Unlike Chapter 7, which involves the liquidation of assets, Chapter 13 enables debtors to protect their valuable assets while still finding relief from their financial burden. In some cases, it even allows for the discharge of certain unsecured debts.

Is Chapter 13 Bankruptcy Right for You?

Before proceeding with Chapter 13 bankruptcy, it’s crucial to evaluate whether it suits your financial circumstances. Since the process can last several years, it requires careful consideration. At Reidy Law Firm, LLC, our experienced Atlanta Chapter 13 bankruptcy lawyer will assess your situation thoroughly and provide guidance to help you make an informed decision.

Chapter 13 bankruptcy is an excellent option if you have a stable income but are struggling to keep up with your bills. It provides an opportunity to catch up on missed mortgage or car payments, thereby preventing potential foreclosure or repossession. On the other hand, if you lack sufficient disposable income or have no current income, Chapter 7 bankruptcy might be a more suitable choice.

Our Atlanta Chapter 13 Attorney Will Help You Navigate the Process

One of the significant advantages of Chapter 13 bankruptcy is the ability to structure your payment plan based on the rules concerning “priority debts.” Some debts hold higher priority and must be paid in full, such as child and spousal support payments, recent tax debt, and mortgage arrears. On the other hand, unsecured debts like credit card debt and medical bills can be eliminated through discharge at the end of the Chapter 13 process. Navigating the complexities of bankruptcy law and strategically structuring your payment plan requires the expertise of a seasoned attorney. At Reidy Law Firm, LLC, our Chapter 13 bankruptcy lawyer in Atlanta will work closely with you to develop a customized plan that protects your secured assets while effectively settling other nondischargeable debts.

How Chapter 13 Bankruptcy Works in Georgia

Chapter 13 bankruptcy in Georgia is a comprehensive process that offers individuals the opportunity to restructure their debt, protect valuable assets, and regain control of their financial future. Let’s break down the key steps involved in Chapter 13 bankruptcy to provide a clearer understanding:

Filing the Petition and Credit Counseling

The first step is to complete the necessary paperwork for your bankruptcy petition. Additionally, you'll need to undergo credit counseling. This counseling is designed to help you assess your financial situation and explore alternatives before proceeding with bankruptcy.

Automatic Stay

Once your case is filed with the court, an "automatic stay" is put into effect. This legal protection prevents creditors from taking further action to collect debts from you. This means that foreclosures, repossessions, wage garnishments, and collection lawsuits must be paused during your bankruptcy case.

Protecting Secured Assets

One significant advantage of Chapter 13 bankruptcy is the ability to protect your secured assets, such as your home or car. While the bankruptcy process is ongoing (which typically lasts between three and five years), your assets are shielded from seizure as long as you work towards a resolution of your debts.

Reorganization Plan

During the bankruptcy process, our bankruptcy attorney will work with you to create a reorganization plan. This plan outlines how you'll address your debts over the coming years. It takes into account different types of debt and their priorities. Debts are categorized into three main groups: priority debts (e.g., tax debts and child support), secured debts (e.g., mortgages or car loans), and unsecured debts (e.g., credit card debt).

Monthly Payments Based on Disposable Income

Under Chapter 13, you'll make monthly payments to a "Chapter 13 Trustee," who will oversee your case. The amount you pay is based on your disposable income, which is the money left after essential expenses like housing, food, and transportation are deducted. These payments are spread over the duration of the bankruptcy plan, making it more manageable for you.

"Dennis made my bankruptcy super easy and fast. Did 1000% of the leg work and always was responsive and efficient"

– Alesha

Consult with Our Expert Atlanta Chapter 13 Bankruptcy Attorney

Navigating the complexities of bankruptcy law and determining the most appropriate path can be challenging. That’s why seeking guidance from our experienced Atlanta Chapter 13 bankruptcy attorney at Reidy Law Firm, LLC, is crucial. We will conduct a thorough evaluation of your financial situation, provide personalized advice, and help you make an informed decision that aligns with your goals.

Schedule a free initial consultation with our dedicated Atlanta Chapter 13 bankruptcy attorney by calling (678) 993-9554 or contacting us online.

Why Clients Choose Us

Support from Start to Finish

Unlike larger firms, we are able to give you personalized attention and service. Feel confident in a firm that cares about getting the best outcome for you.

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We understand that you are going through a difficult time. Flexible payment options and appointments are available for your convenience.

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Knowing you have an experienced attorney allows you to focus on other things, confident that we will see to the details.

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