Cumming, GA – In a recent blog post, Atlanta Bankruptcy Associates has issued complete details about Chapter 13 bankruptcy Cumming.
Chapter 13 bankruptcy is sometimes referred to as a “wage earner’s plan” or a “reorganization bankruptcy.” This type of bankruptcy is designed for individual debtors who have a regular source of income. A Chapter 13 bankruptcy enables the debtor to pay off all or a portion of his debts during a three- to five-year period. Still, unlike a Chapter 7 bankruptcy, it does not require the debtor to forfeit any assets or property to pay unsecured debts.
Chapter 13 bankruptcy Cumming is available to all individuals (including married couples) with a regular source of income. Such income can be derived from employment or self-employment, commission-based work, fixed income, pensions, and other sources, so long as the individual can show how the court that they can stick to a repayment plan.
But some limits come with filing Chapter 13 bankruptcy. For instance, if someone had a bankruptcy case dismissed for various reasons in the last 180 days, they might not be eligible to file for Chapter 13 bankruptcy. Also, suppose an individual had received a bankruptcy discharge under Chapters 7, 11, or 12 in the previous four years or a Chapter 13 bankruptcy discharge in the previous two years. In that case, they will not be eligible to receive a Chapter 13 discharge of debts.
About Atlanta Bankruptcy Associates
Atlanta Bankruptcy Associates is a local office where a client will deal directly with an attorney that understands the rules and process for personal bankruptcy. After a meeting with one of the lawyers, rest assured the client will find the process much less overwhelming than expected.
Company Name: Atlanta Bankruptcy Associates
Contact Person: Samantha Hall
Email: Send Email
Phone: (678) 582-2985
Address:347 Dahlonega St Suite 200
State: GA 30040
Country: United States