A Chapter 13 Bankruptcy Payment Plan Could Be Just What You Need to Get Back on Your Feet Again

You work extremely hard to support your family, but every week on pay day, your paycheck disappears when you hand all of your money over to creditors. Your income is steady and reliable, but it's just never enough to pay your bills and keep food on the table and clothes on your back. It seems like you're just constantly treading water, barely keeping your head above the surface.

This way of living is far too common for many Americans, but they do not realize that filing for Chapter 13 bankruptcy can help them get a grip on their debts and create a payment plan that they can afford.

During the 12-month period ending December 31, 2012, there were over 360,000 non-business filings for Chapter 13 bankruptcy in the U.S. bankruptcy courts; 32,652 of those filings took place in Georgia. You have the choice to become one of those people and make the important decision to get your life back. Filing for Chapter 13 bankruptcy is much easier when you have an Augusta bankruptcy attorney on your side. Call Seymour & Associates, P.C., today for a completely free consultation at 706-868-1968 or toll free at 888-704-3644

Eliminate Your Major Debts in Three to Five Years With Chapter 13 Bankruptcy in Augusta

Chapter 13 bankruptcy is for people who have a source of income but are overwhelmed by debt. Your bankruptcy attorney will help you get on a payment plan that helps you pay off some or all of your debt in a much more manageable way. Certain debts, like student loans and child support, do not qualify under Chapter 13, but if you have quite a bit of consumer debt, Chapter 13 could eliminate a lot of your stress. How much you pay will depend on the amount of disposable income you have, your assets, and whether you have any previous bankruptcy filings.

So, what's an example of what you could expect when filing for Chapter 13 bankruptcy in the Southern District of Georgia? If you don't have a lot of disposable income, equity in property, or previous bankruptcy filings in which you received a discharge within the last eight years, you will only have to pay back a small percentage of what you owe to your creditors. Let's say you owe $45,000 in credit card debt, medical bills, and cash loans. If you qualify for a 1 percent plan, you would only have to pay back $450 over a period of three to five years. That breaks down to only $12.50 per month on the three-year plan, or $7.50 each month on the five-year plan.

What happens to the rest of the money you owe? It is completely discharged. This means that you are no longer legally obligated to pay the debt and you are free to begin a new life without the burden of debt holding you back.

Want to Know If You Qualify for Chapter 13? Contact Our Augusta Bankruptcy Firm For a Free Consultation

Chapter 13 bankruptcy can be an appealing option for people who are desperate to get out of debt—but not everyone qualifies. Contact Seymour & Associates, P.C., for a free consultation and we will take a look at your situation and help determine if Chapter 13 is the right choice for you. Even if you do not qualify, you might be a good candidate for Chapter 7 bankruptcy.

Located in Augusta, Seymour & Associates, P.C., focuses exclusively on cases involving bankruptcy law. That means that when you hire us to fill out your important paperwork, represent you in court and answer all of your bankruptcy questions, you'll know that you have experienced attorneys on your side that deal with bankruptcy issues every single day.

Our fees are some of the lowest in the area, we offer flexible payment plans, and your first consultation with us is completely free. Learn about Chapter 13 bankruptcy and how Seymour & Associates, P.C., can help by calling us today at 706-868-1968 or toll free at 888-704-3644.