Chapter 13 Bankruptcy Attorney in the Greater Augusta Area

Many Americans have heard about Chapter 13 Bankruptcy, maybe some don’t completely understand it or some don’t even know what it means. In Lee Ringer Law Offices, we specialize in this type of bankruptcy and we help our clients understand what Chapter 13 Bankruptcy.

A Chapter 13 bankruptcy case is a payment plan. You will propose a plan, and the Bankruptcy Court will confirm (approve) it. You will make monthly payments to a standing Chapter 13 trustee, who will, in turn, pay your creditors in proportion to the claims they file with the Court.

Specifications about Chapter 13 Bankruptcy

Only individuals (people) with regular income may file under Chapter 13. In addition, the total of your non-contingent liquidated debts must be less than certain amounts.

The rules for deciding whether debts are non-contingent, or liquidated, or secured can be tricky. Plus, the maximum dollar amounts for Chapter 13 keep changing. You should seek the advice of a competent bankruptcy attorney if the total amount you owe to all your creditors exceeds the debt limits.

In general, you must pay all your disposable monthly income to the Chapter 13 trustee. Disposable income is what is left every month after paying your reasonable and necessary living expenses. Payments that you have been making on credit cards or other unsecured debts (including student loans) do not count as expenses when calculating disposable income. The Chapter 13 trustee will often object to your plan if he or she thinks that any of your living expenses are excessive, unreasonable, or just too high. Or the trustee may insist that you back them up with records because the trustee just doesn’t believe you spend that much.

Get the best Greater Augusta Area attorney

If you have questions about Chapter 13 bankruptcy, and whether it may be the right option for you, contact Lee Ringler Law Offices today. We proudly serve clients throughout the greater Augusta area and CSRA, including Evans, Martinez, and Grovetown, GA, North Augusta and Aiken, SC, and surrounding counties.