When Chapter 13 is the best route instead of Chapter 7 – Liberty County Georgia bankruptcy lawyer
Bankruptcy lawyer Savannah

You must not file for Chapter 7 if you have defaulted on your mortgage or car loan, and want to regularize the missed payments over time and reinstate the original agreement. You cannot do this in Chapter 7 bankruptcy. You can make up missed payments only in Chapter 13 bankruptcy.

Chapter 13 is a wiser option if you have a tax debt, student loan, or other debt that are not discharged in Chapter 7. You can include these debts in your Chapter 13 plan and pay them off over time.

You should consider Chapter 13 if you have a real intent to pay off your debts, yet you require the protection of the bankruptcy court to enable you to do so. This might be the case if creditors are behind you, or if you simply need the formal structure and deadlines the Chapter 13 process provides in order to follow through on your good intentions.

When you have nonexempt property that you want to keep, Chapter 13 filing is the one for you. If you file for Chapter 7 bankruptcy, you get to keep only exempt property – property that is safe from creditors under state or federal law. You should give your nonexempt property to the bankruptcy trustee, who can sell it and distribute the proceeds amongst your creditors.

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Savannah Georgia bankruptcy lawyer | Bankruptcy attorneys in Savannah GA and Richmond Hill – Filing for Chapter 13 Bankruptcy and Chapter 7 Bankruptcy in Savannah GA

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