Automatic Stay Provision In Bankruptcy Chapter 13 Macon GA

All potential bankrupts are subject to a means test; if your income is too high, you cannot file bankruptcy under Chapter 7; you must file under Chapter 13. Under Chapter 13, debtors are permitted to repay creditors, in full or in part, in installments over a three- to five-year period, during which time creditors are prohibited from starting or continuing collection efforts. A plan providing for payments over more than three years must be for cause (a reason) and must be approved by the court. In no case may a plan provide for payments over a period longer than five years. Chapter 13 contains a special automatic stay provision applicable to creditors. A Chapter 13 case begins when a debtor files a petition with the bankruptcy court serving the area where the debtor has a residence. Unless the court orders otherwise, the debtor also shall file the following documents with the court:

1. Schedules of assets and liabilities;
2. Schedule of current income and expenditures;
3. Schedule of unfulfilled contracts and unexpired leases; and
4. Statement of financial affairs.

The debtor must file a plan of repayment with the petition or within 15 days thereafter, unless extended by the court for cause. The Chapter 13 plan must, among other things, provide for the debtor to contribute that portion of his or her future income as is necessary to meet the terms of the plan.

Contact us if you want to file for bankruptcy. Our Macon, GA (Georgia) bankruptcy lawyers regularly help clients in Macon GA (Georgia), as well as Roberta, Warner Robins, Forsyth, Byron-Centerville, Culloden, Fort Valley, Haddock, Jeffersonville, Lizella, Perry, Gray, Irwinton, Milledgeville and Vienna including Bibb County, Monroe County, Jones County, Crawford County, Peach County, Twiggs County, Baldwin County, Dooly County Houston County, Wesleyan College, Macon State College and Mercer University file for bankruptcy.

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