Best Bankruptcy Lawyer in Macon GA
A Chapter 13 plan must pay certain debts called priority debts in full. Priority debts include child support and alimony, wages owed to employees, and certain tax obligations. They are called priority debts because they’re considered sufficiently important to jump to the head of the bankruptcy repayment line.
The debtor must include in the plan regular payments on secured debts, such as a car loan or mortgage, as well as repayment of any arrearages on the debts the amount by which the debtor has fallen behind in payments.
Under the plan any disposable income left after making the required payments is used to repay unsecured debts, such as credit card or medical bills. These debts need not be repaid in full or at all, in some cases. The debtor just has to show that the debtor is putting the remaining income towards their repayment.
The debtor’s earnings and debt determine the length of the Chapter 13 repayment plan. If the debtor’s average monthly income over the six months prior to the date of filing for bankruptcy is higher than the median income for the debtor’s state of residence, the pan must be a five year plan. If debtor’s income is lower than the median, the debtor may propose a three year 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
http://www.macongabankruptcy.com
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