Filing for Chapter 13 Bankruptcy Relief


Deciding to file for Chapter 13 bankruptcy can be an intimidating process. However, many life circumstances can lead to the need to start over financially. Legal protection during that process may be necessary.

Chapter 13 Bankruptcy, a Brief Overview

Filing for Chapter 13 bankruptcy might help protect your home and other assets while you make payments towards any outstanding debts. While each case is different, the overall procedure is similar and is not necessarily as stressful as it can seem.

A review of your debts and income will help determine a monthly repayment plan. Those payments are then made to a trustee over several years, usually five. During this time, collectors are not allowed to contact you. For the repayment period, you might be able to remain in your home and keep your vehicle. At the end of the process, some debt not completely repaid may be written off. Keep in mind that not all unpaid debt will be cleared. Your attorney can inform you about which unpaid debt can be discharged and which cannot.

How to Begin the Chapter 13 Process

If you find yourself in need of a Chapter 13 bankruptcy attorneys in Valdosta, there is some preparation you will want to do prior to the consultation. Some items you will probably want to take with you are recent tax returns, auto payment records, mortgage statements, any credit card or loan bills and medical billing statements.

Because this is a federal process, you will also need proof of identification and, possibly, a social security card, should you decide to proceed. It is also suggested to have a list of questions ready to help ensure you have all the information needed to make your decision.

Seek Help Sooner

Collection calls can add undue stress to your life. Also, these calls do not usually end by ignoring them. If you find yourself overwhelmed by debt it might be time to consider contacting a Chapter 13 bankruptcy attorney in Valdosta to review your legal options. The sooner you have accurate information, the better.