Assistance for Chapter 13 Bankruptcy in Augusta GA

You work extremely hard to support your family, but every week on payday, 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.

chapter 13 bankruptcy attorney augusta ga

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.

Understanding Chapter 13 Bankruptcy in Georgia

Filing a Chapter 13 bankruptcy is a great way to stop foreclosures, repossessions,  garnishments and tax levies. A Chapter 13 bankruptcy can eliminate credit card debt,  payday loans and finance company debt. With a Chapter 13 bankruptcy, we can even help  you get your suspended driver’s license reinstated. 

How Does a Chapter 13 Payment Plan Work?

  • Your bankruptcy attorney will help you arrange and propose a payment plan to the bankruptcy courts. Our attorneys will work with you to prepare and file a  Chapter 13 plan which is designed to manage, as well as, eliminate your debt.
  • Filers will continue to pay monthly on a plan for the 3-5 year duration of the  Chapter 13 bankruptcy. Your plan will last for 3 to 5 years depending upon your needs. If you continue to pay your debts outside of bankruptcy, you will probably not be out of debt in 3 to 5 years. By filing bankruptcy, you can see the light at the end of the tunnel. 
  • Filing for Chapter 13 bankruptcy immediately starts the automatic stay. When your Chapter 13 case is filed, our federal bankruptcy judge will immediately issue an order called an automatic stay. This order will immediately protect you from collection activity by your creditors. 
  • This protects you from collection actions such as wage garnishments, foreclosures, and repossessions. The automatic stay can give you the time you need to save your essential assets and recover financially.

How much you pay will depend on:

  1. The amount of disposable income you have
  2. Your assets
  3. Whether you have any previous bankruptcy filings

Our attorneys are dedicated to obtaining the lowest payment possible for your situation.

Eliminating Debt in Chapter 13 Bankruptcy

If you have personal debt, you might be able to eliminate a portion, or even ALL of your debt, if you file bankruptcy.

Common personal debts wiped out in bankruptcy include:

  • Credit cards
  • Medical bills
  • Cash Loans

At the end of your Chapter 13 case, your unsecured debt is completely discharged. If you paid secured debt, such as a car, through your bankruptcy, you will receive the title to the vehicle. Additionally, any past due mortgage or rent payments will be paid in full.

Chapter 13 Rules for Wage Garnishment in GA

The law states that garnishment must be stopped when someone files for chapter 13 bankruptcy. Additionally, lost wages from garnishment may be repaid. If you file your Chapter 13 quickly, we may be able to obtain a refund of the money that was garnished from your paycheck or bank account. For a complete assessment of how filing chapter 13 bankruptcy will affect your wage garnishment circumstances, call an experienced attorney for a case evaluation.

Do I Qualify for Chapter 13?

Individuals or married couples who have a source of income and are overwhelmed by their debt can file for Chapter 13.

In order to qualify for Chapter 13, you must have:

  • Current income tax filings
  • Sufficient disposable income

If you file bankruptcy in Augusta, your income will be compared to the median income for a household of your size in whatever county you reside in. So, your income will affect your bankruptcy case differently depending on what county you live in. Ultimately, your average monthly income will be annualized, then compared, to the median income to similarly sized families in your county.

If your secured and unsecured debt exceeds a certain amount, you may need to file for another type of bankruptcy. Additionally, your debt must not be because of a business that you own.

How to File for Bankruptcy Under Chapter 13

Filing for bankruptcy comes with fees that are determined by the federal laws and our court systems. In Georgia, the filing fee for Chapter 13 bankruptcy is $313. If you are unable to pay the whole fee due to financial difficulties you may ask the court permission to pay it in four installments.

In the Southern District, the process of filing a Chapter 13 bankruptcy can either be very easy or extremely difficult. If you want to take the easy route, you need to meet with an Augusta bankruptcy lawyer to learn about your options. At the Law Firm of Seymour and Associates, we have filed over 10,000 bankruptcy cases. We have experience and experience counts. And, we file more bankruptcy cases than any other firm in Augusta. We work with people who are serious about eliminating or controlling their debt. You can count on our experience to help you with your case from start to finish. 

The amount you pay back is determined by 3 things:

  • Disposable income
  • Assets
  • Previous bankruptcy filings

In short, if you do not have a lot of disposable income, equity in property, or previous bankruptcy filings in which you received a discharge within the last 8 years, you will only have to pay back a small percentage of what you owe to your creditors.

So, for instance, take the following situation:

  • Debtor owes $45,000 in credit card debt, medical bills, and cash loans
  • If he qualifies for a 1% plan, he will only have to pay back $450, over a period of either 3 or 5 years
  • 3 years = $12.50 dollars/month to the creditors
  • 5 years = $7.50 dollars/month to the creditors
  • The other $44,450 is then discharged

In other words, the debtor will legally eliminate his/her obligation to pay the rest of the debt. While this may seem too good to be true, Augusta bankruptcy is designed for the very purpose of helping individuals and their families get back on track and start over financially.

Why Hire a Lawyer to File for Chapter 13?

Bankruptcy is best filed through an experienced law firm, like Seymour & Associates. Not only will we help you determine if you should file bankruptcy or not, but we will give you valuable insight to your financial situation from a legal perspective.

Help for Clients Struggling with Debt

Chapter 13 bankruptcy can be an appealing option for people who are desperate to get out of debt—but not everyone qualifies. Contact Seymour and Associates 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.

Seymour and Associates focuses exclusively on cases involving bankruptcy law, debt settlement and student loan law. That means that when you hire our Augusta Chapter 13 bankruptcy lawyers to represent you, we will answer all of your questions. You’ll know that you have experienced attorneys on your side that deal with issues involving bankruptcy 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. Call today!