Though it is a scary word to hear, bankruptcy can sometimes be the right path. The important thing to remember is that there are different forms of bankruptcy, each with its own advantages and disadvantages.
If you have been considering Chapter 13 bankruptcy in Augusta, GA, then it may be time to speak to Claeys, McElroy-Magruder & Kitchens. With a guiding hand, you can get through the bankruptcy process and begin the next step in your life.
Gathering Information
One of the first steps in the process of Chapter 13 bankruptcy in Augusta, GA, is ensuring that all the necessary information has been gathered. That includes the source, amount, and frequency of the debtor’s income, a list of all creditors and the amounts due, any debtor properties, and more.
That information may seem like a simple thing to gather but can be anything but. A professional can help ensure that all the necessary information is there to further the process.
Paying Back the Debt
The major difference between Chapter 7 and Chapter 13 bankruptcy in Augusta, GA, is that, in the latter, the debt is paid back. The goal is to create a payment option where the debtor can pay back what is owed.
This is important because it can mean saving property that would have otherwise been lost to the bankruptcy process. See what other advantages can be had and get things on track with a Chapter 13 filing.
