Atlanta Chapter 13 Bankruptcy Lawyer is a type of personal bankruptcy designed specifically for people with too much debt to repay. It resembles Chapter 7 bankruptcy in many ways but is structured so that the debtor makes a series of payments to settle the debts. This payment plan can last up to five years, and the debtor has several options for how they will handle their finances. They can continue making payments as they are set forth or they can pay off their debts in full during one specific period leading up to a success story ending with an unsecured discharge of all debt.
Roles of Atlanta Chapter 13 Bankruptcy Lawyer
- Client Consultation
Before the case is filed, the attorney will meet with the client to assess how much debt they have and how they would like to handle it. The attorney will also discuss other personal factors that may affect the process. After this meeting, a plan will be put together and presented to the client for review.
- Preparation of Petition and Schedules
After this meeting, the attorney will prepare all necessary documents for filing with the bankruptcy court, including a petition setting forth information about all of the debts held by creditors and income of the debtor as well as a budget plan explaining how they intend to manage their money while they are making payments. In order to ensure that the petition is accurate, the attorney will need to gather much of this information from the client so that it is as precise as possible.
- Filing Documents with Court and Notifying Creditors
With these documents completed, along with schedules listing all of the client’s assets and debts, the attorney will file them with the bankruptcy court and give notice to all known creditors. This notice must be given in person or via certified mail if an attorney has been hired for clients who are represented by an attorney. If not, then notice must be given in person or via regular mail at most ten days before it is filed with court.
- Preparing for Court Hearings
At the time of filing, a hearing will be scheduled. This is usually at least ten days after the date of filing and will occur in front of a bankruptcy judge. Sessions will be held as often as necessary while the debtor is still making payments. The attorney will attend these hearings and argue any cases that require their participation.
- Payment Agreements
At some point during this process, the debtor must come to an agreement with creditors to repay them with a specific total amount over time if they are successful in completing the plan set out by the court for restructuring their debts and income.
If the debtor successfully completes the payment plan, they will be granted a discharge of all of their debts in a court hearing, or confirmation hearing. This allows them to move forward with their life debt free. If they are not successful and never complete the plan, then the debts that were included in the petition will remain on their record and could result in default judgments being applied to all of their property, which may include wages or other types of personal assets.
Chapter 13 bankruptcy is a good option for many people with too much debt. This is because it allows them to restructure their finances and repay their creditors, giving them the opportunity to move on.