Filing Chapter 13 Bankruptcy in Macon, Georgia

Filing Chapter 13 Bankruptcy in Macon, Georgia

Any person, either self employed or working in an organization can file a chapter 13 bankruptcy in Macon, Georgia and secure protection under it. The only criteria is that the unsecured debts should be below $336,900 and secured part of the debts less than $ 1,010,650. No organization may seek assistance or file chapter 13. An individual cannot file for chapter 13 when his bankruptcy petition was dismissed 180 days prior to the filing.

Chapter 13 bankruptcy that typically begins with filing of the case in the federal court in the area where the debtor resides. The debtor must submit certain documents showing his present income and expenditure, his liabilities, unexpired leases, and his financial status. Apart from that the debtor also has to produce a certificate from an approved credit counselor stating that he or she has attended credit counseling and a plan detailing the debt repayment plan.

There are certain predefined fees for filing an application under Chapter 13 of the US bankruptcy code. The fees may also be paid in installments. When the bankruptcy application is filed all collections against the debtor is stayed immediately. When a debtor pays the creditors on time, the debtor enjoys protection under chapter 13 of the US Bankruptcy Code. Within 50 days the trustee arranges a meeting with the creditors. During this meeting, the debtor is put to several questions and the plan is arrived at detailing how the debtor will repay the debts.

A debtor should follow the repayment plan, and if the debtor fails to make regular payments according the plan, the court may dismiss the petition and change it to a liquidation proceeding under Chapter 7. So when you file a Chapter 13 petition, you ought to religiously follow the repayment plan and make the payments.

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