Court Approved Repayment Plan Macon GA

Under chapter 13, a debtor with a regular wage or some other source of regular income can continue to pay some or all of their debts back to their creditors under a court-approved repayment plan. Sometimes this can of great benefit because you can usually keep your property and you must agree to pay part of your income to your creditors. The court must approve your repayment plan and your budget. Usually, a trustee is appointed and who collects the payments from you, pays your creditors, and makes sure you live up to the terms of the proposed repayment schedule. There's a trustee fee in these repayment plans and sometimes it's not inexpensive. The plan which must be approved by the court provides for payments of fixed amounts to the trustee on a regular basis, typically biweekly or monthly. The trustee then distributes the funds to creditors according to the terms of the plan, which typically offers creditors less than full payment on their claims. If you have a regular job with regular income, the bankruptcy court may order that your monthly payments be automatically deducted from your wages and sent directly to the bankruptcy court. You are entitled to a discharge upon successful completion of all payments under the Chapter 13 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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Macon Georgia bankruptcy lawyer | Bankruptcy attorneys in Macon GA and Warner Robins - Filing for Chapter 7 Bankruptcy and Chapter 13 Bankruptcy in Macon GA

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