Atlanta Chapter 13 Lawyer

DeKalb County Chapter 13 Bankruptcy Attorney

Chapter 13 bankruptcy is sometimes referred to as a debt restructuring bankruptcy. With a Chapter 13 bankruptcy, you pay back a portion of your debts through a three- to five-year debt repayment plan.

You make monthly payments toward your Chapter 13 debt repayment plan. The amount you pay is designed to be an amount you can afford. A portion of your debts may also be discharged, depending on your financial ability. The amount of debt discharged can be very significant for people whose debts far exceed their financial means.

To speak with an Atlanta bankruptcy attorney, contact The Martin Law Group. Attorney Yolvondra Martin-Brown has more than 25 years of legal experience. She represents clients in both Chapter 7 and Chapter 13 consumer bankruptcy.

Stop Home Foreclosure

Many people use Chapter 13 to stop home foreclosure. From the moment you file for bankruptcy, an automatic stay is created which may stop home foreclosure. Even if you are behind on your mortgage payment, you can use Chapter 13 bankruptcy to pay back your mortgage arrears gradually over the term of your three- to five-year debt repayment plan.

In limited circumstances, some people are able to discharge the debt from a second home mortgage through Chapter 13 bankruptcy. This process is sometimes referred to as lien stripping. If the fair market value of your home is less than the amount owed on your first home mortgage, you may be able to discharge the debt on your second mortgage.

Am I Eligible for Chapter 13 Bankruptcy?

People who do not qualify for Chapter 7 bankruptcy often do qualify for Chapter 13 relief because Chapter 13 bankruptcy does not contain an economic means test. You can be eligible for Chapter 13 bankruptcy even if you have a high paying job. If you are unable to pay all of your monthly bills and need help, you should contact a bankruptcy attorney to discuss your options.

What Property Can I Keep?

Unlike a Chapter 7 bankruptcy, in which certain assets may potentially be liquidated, a Chapter 13 bankruptcy does not result in the liquidation of any assets. For people with significant assets that cannot be protected by bankruptcy exemptions, Chapter 13 bankruptcy may provide a strong alternative to Chapter 7 bankruptcy. We can help you determine which type of bankruptcy is right for you.

Contact an Atlanta Chapter 13 Attorney

To speak with an experienced bankruptcy lawyer, contact the Martin Law Group in Atlanta, Georgia. To schedule your free consultation, call 404-975-0578 or contact us by e-mail.