So many people are dealing with debt these days. When you are dealing with too much debt and have lost your job, it can be even more devastating. Dealing with the constant harassing calls and the threats to garnish your wages or pursue a court case against you can be more than you can handle. To get help with these issues, you need to consult with an attorney and learn about your bankruptcy options. One of the most popular bankruptcy options is Chapter 13 Bankruptcy in Valdosta. This type of bankruptcy allows you to keep your assets and pay a monthly payment through the court. This allows you to pay off your debts in a period of three to five years.
What Can You Expect in Filing Chapter 13 Bankruptcy in Valdosta?
The first step in filing for bankruptcy involves you meeting with your attorney. You will need to make sure you provide information on your finances, income and assets. All of this information will be used by the attorney to make the decision on which type of bankruptcy will best benefit your needs and provide you with assistance in overcoming your debt.
The attorney will first file your petition with the court. You will be scheduled for a bankruptcy hearing and all of your creditors will be informed of your filing status. They have the right to respond to you filing for bankruptcy and may issue a response to the judge. At the hearing, the attorney will speak on your behalf and inform the judge of your debts and monthly income.
It will be up to the judge to make the final decision on whether or not your bankruptcy will be approved. The judge will also want to be sure you can afford the monthly payment required to pay off your debts in the time period of your bankruptcy.
For more information visit Charles Farrell Jr. LLC today!