Bankruptcy Attorneys Are Based In Columbus GA

A Chapter 7 bankruptcy is often also preferred to a liquidation or a straight bankruptcy. The process of liquidation transfers one's possessions to funds. This course of action necessitates the appointment of a trustee. The court assigns a trustee who accumulates all non-exempt material goods, put them up for sale and the money he so collects is distributed among the appropriate creditors. On the other hand, contrasting to other bankruptcy filings, a debtor is not required to make any payments to the trustee.

A filing under Chapter 13 offers an opportunity to stop foreclosure proceedings and may cure delinquent mortgage payments over time. You must however make all mortgage payments that come due during the chapter 13 plan on time. You can reschedule secured debts other than a mortgage for your primary residence and extend them over the life of your chapter 13 plan. Doing this may lower the payments. Chapter 13 also has a special provision that protects third parties who are liable with you on consumer debts. This provision may protect your co-signers. Chapter 13 acts like a consolidation loan under which you make the plan payments to a chapter 13 trustee who then distributes payments to creditors. You will have no direct contact with creditors while under chapter 13 protection.

Our bankruptcy attorneys are based in Columbus, GA (Georgia). If you are located in Columbus, GA (Georgia), Fort Benning GA (Georgia), Chattahoochee County, Harris County, Marion County, Muscogee County, Lagrange, Atlanta, Albany, Newnan, Peachtree City, Carrollton, Muscogee County, Troup County, Phoenix City AL or Opelika AL, contact us. We can help you file for bankruptcy.

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Columbus Georgia bankruptcy lawyer | Bankruptcy attorneys in Columbus GA and Fort Benning - Filing for Chapter 7 Bankruptcy and Chapter 13 Bankruptcy in Columbus GA and Fort Benning

http://www.columbus-ga-bankruptcy.com