When you file for Chapter 13 bankruptcy in Georgia, there are certain things you will have to go through in order to successfully complete your case. While you will have the help of a bankruptcy attorney to get you through the process, it is a good idea to know what you are facing so that you will be properly prepared for what you have ahead of you. Below you will find a list of all the different steps you are likely to face in your bankruptcy case as well as an explanation about what is happening at every stage of the process.
- Decide if Chapter 13 is right for you. When filing for Chapter 13 bankruptcy in Georgia, it is a good idea to talk with a bankruptcy attorney to make sure that you are making the best decision for you and your financial future.
- Look at your debt. In some cases you will not be able to file for Chapter 13 because you simply have too much debt to create a repayment plan which will pay off your debt within five years.
- Look at your income. In order to file a Chapter 13 bankruptcy in Georgia, you will need to make enough money that you will be able to repay your debt while still paying for necessary expenses.
- Establish value of your property. You will need to establish what property you have and what property is exempt.
- Complete bankruptcy forms. After it is established you can file for Chapter 13, you will need to fill out all of the appropriate documents with the state court.
- File your forms. Double check all forms to be filed for a Chapter 13 bankruptcy in Georgia and file them in the state court.
- Attend two hearings. You will be required to go to a meeting of the creditors in which you will meet with the trustee to talk about your case and creditors are allowed to show up as well. You will also need to go to a confirmation hearing in which you will be given judgment as to whether your Chapter 13 is valid. This is the time for creditors to file claims.
- Pay your debt. After filing, you will start repaying your debt in the next 30 days. Failure to make payments will result in your case being dismissed.
- Discharge your bankruptcy. Once you have completed all payments, your debts will have been satisfied completely. This will make it where you owe nothing else to and creditor and you will be allowed to have your case discharged through the court. You will now be free from debt and on your way to starting to rebuild credit.
It is important to remember that when filing for Chapter 13 bankruptcy in Georgia, you are recommended to work with a qualified and skilled bankruptcy attorney. This will help you to get everything done for your case in a an orderly manner. It will also reduce the risk that anything will be missed.
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