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"A very respectful law firm that has very good customer service which is job one in the human world. Thank you Morgan and Morgan of Athens, ga." - W.S. August 2017
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"My experience with Morgan & Morgan was exceptional!!! I was very well informed about their procedures and felt comfortable about going forth with my case. Everything was handled with importance." - C.J. May 2017
"Attorney Jason Braswell & Lisa LaCount are just wonderful...not one time have I call the office and spoke with Carmella that I didn't get a chance to speak directly to Jason or Lisa or receive an immediate return call/email with a response. Thanks to this attorney team, my mind and our finances are in order. Again, thanks for taking us on as a client of Morgan & Morgan." - C.P. May 2017
"Lee did a great job. He helped me save my home and get a grip on my financial situation. The staff at Morgan & Morgan was great. Always easy to reach on the phone and mindful of my situation. Thanks!" - April 29, 2013
An Experienced Team of Chapter 13 Bankruptcy Lawyers that Gets Results
We are a boutique law firm with a family atmosphere. We realize that our clients are in need of help and we make it our mission to create the most comfortable environment possible. Over the last 30 years, we have been providing legal services pertaining to bankruptcy, workers compensation and disability to the Athens, Georgia metropolitan area. We have assisted all types of clients from commercial businesses to individuals.
What is Chapter 13 Bankruptcy?
Chapter 13 bankruptcy is very different from Chapter 7. In a chapter 7 bankruptcy case, the assets of a debtor are sold by the appointed bankruptcy trustee to pay off the debtors debts. Chapter 13 cases are different, because instead of losing property to sale, a debtor is allowed to set up a payment plan with the bankruptcy trustee to pay back the debt over the course of a three to five year period. The money used to pay the bankruptcy trustee and satisfy the debt comes from regular income and wages instead of sale proceeds of personal property. This form of bankruptcy is commonly referred to as reorganization bankruptcy.
Chapter 13 Eligibility
Like Chapter 7 bankruptcy, not everyone qualifies, but not for the same reasons. Any individual, whether self-employed or operating as an unincorporated business may file, provided they are eligible. To become eligible, you have to have enough disposable income to cover your debts. Chapter 13 requires that you pay off your debts with your stream of income, so it is required that you show the court you have the capacity to meet your obligations solely from your income.
Eligibility for Chapter 13 bankruptcy is also dependent upon the totaled amount of all your secured debts and unsecured debts. Secured debts are debts that are guaranteed by some form of collateral. Collateral, in regards to a secured debt, is an asset that is used to secure a loan – that is – it is something that the creditor can utilize to cover the cost of the loan in the event that the borrower is unable to fulfill their debt obligation.
An unsecured debt is a debt for which there is no collateral. Examples of these are credit card debts, medical bills, and student loans. If an individual has amassed secured debts that exceed $1,149,525 and unsecured debts that exceed $383,175 then they will not be allowed to file for Chapter 13.
How do I file for Chapter 13?
Consult with a Chapter 13 bankruptcy attorney before you attempt to file. The knowledge and experience of conducting Chapter 13 filings in the past will prove invaluable to your decision making process. Having an bankruptcy attorney explain the process to you will also keep you informed and help the process runs smoothly.
Before you can file for bankruptcy you have to undergo mandatory credit counseling from an agency that is pre-approved by the United States Trustee’s office. You may visit ACDCAS.com for approved credit counseling. The agencies that administer the counseling charge various fees for their services that must be paid to complete the program. After you have completed the counseling, you may then file for Chapter 13.
The actual filing portion of a Chapter 13 case begins by filing a petition with the bankruptcy court in the area where you reside. Typically, the court will also expect:
- A breakdown of all assets and liabilities
- A list of monthly income and expenses to determine disposable income
- A schedule of executory contracts and unexpired leases
- A statement of the condition of financial affairs.
The filing fee will be $360 in total which is made up of the $310 in court court costs and the $50 credit counseling. One of our lawyers in Athens, GA will start a chapter 13 case for $120.
Take the First Step Toward Help
Our chapter 13 bankruptcy attorneys are dedicated to treating clients like family and making client needs a priority. We have specialized experience in assisting clients who are facing foreclosure on their homes, or have already had their homes foreclosed upon. Morgan & Morgan also specializes in matters of bankruptcy, real estate, immigration and debt collection defense. Let us help you with your debt relief, start your free consultation now by contacting us today at (706) 548-7070 to learn more about how our team of experienced bankruptcy attorneys can help you through these challenging times.
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Lee Morgan has represented me many times in the past. I have always been very satisfied with their expertise and appreciate how smoothly the process goes because of their experience and preparedness. I highly recommend! - Thomas B.