A Special Automatic Stay Provision For Bankruptcy Macon GA

Not everyone is eligible to use Chapter 7. If your income is sufficient, after subtracting what you'll spend on certain allowed expenses and monthly payments for child support, tax debts, secured debts such as a mortgage or car loan, and a few other types of debts, to fund a Chapter 13 repayment plan, you won't be allowed to file for Chapter 7. Probably the main reason most people prefer Chapter 7 is that it doesn't require you to repay any portion of your debts, as Chapter 13 does. A Chapter 13 case begins when a debtor files a petition with the bankruptcy court serving the area where the debtor has a residence. Upon the filing of the petition, an impartial trustee is appointed to administer the case. The primary role of the Chapter 13 trustee is to serve as a disbursing agent, collecting payments from debtors due under the plan and, in turn, distributing these payments to creditors.

Chapter 13 contains a special automatic stay provision applicable to creditors. 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.

---------------------
Macon Georgia bankruptcy lawyer | Bankruptcy attorneys in Macon GA and Warner Robins - Filing for Chapter 7 Bankruptcy and Chapter 13 Bankruptcy in Macon GA

http://www.macongabankruptcy.com