The Chapter 13 Plan

Learn About The Chapter 13 Relief Plan For Debt Consolidation

Lawrenceville Chapter 13 Bankruptcy Petition Attorneys

A Chapter 13 bankruptcy is a commitment. In exchange for immediate protection from creditors and partial discharge of your debts, you will make monthly payments for 36 months (three years) to 60 months (five years).

It is important to work with an experienced bankruptcy lawyer who can stand up for your interests to ensure your Chapter 13 bankruptcy is properly prepared and that you can realistically afford the payments. Founding attorney Jerry Daniels brings 32 years of experience in helping individuals and families in Gwinnett County and Walton County, Georgia.

Funding Your Chapter 13 Plan

Chapter 13 provides relief to those who earn too much for a Chapter 7 discharge of debts, or who cannot file Chapter 7 because of mortgage arrears, nonexempt assets or other reasons.

The heart of a Chapter 13 bankruptcy is the funding of the plan. Simply put, the funding of the plan is paying money to the Chapter 13 trustee and he in turn pays those creditors designated in the plan to receive that money. The plan is in a form required by the court and it contains important information on how you are going pay certain creditors and whether or not you intend to surrender or keep certain secured debts. The plan also sets out in detail the way in which your attorney is to be paid.

The plan must be funded (payment made to the trustee) within 30 days of filing of your Chapter 13 petition with the court and each 30 days thereafter. There are basically two ways in which the plan will be funded. You pay the trustee directly from your earnings or your employer withholds the money from your paycheck and sends it to the trustee. Direct payment to the trustee is very seldom approved by the courts in the Middle and Northern Districts of Georgia; therefore, the most probable method of trustee payment is by employee deduction order (EDO).

More than likely, your first plan payment will become due (payment due within 30 days of the filing of the bankruptcy petition) before the EDO can be served on your employer and money withheld from your paycheck; therefore, you will be required to make the payments directly to the trustee until your employer starts withholding the plan payment funds. It is very strongly suggested you make a partial payment each payday in order that you may budget your money easily. You may pay the trustee by personal check, money order, bank check or postal money order. Be warned: If you pay by personal check and the check bounces, the trustee will no longer accept personal checks from you, and you will be required to make payment by one of the other methods. Additionally, if a payment check bounces, your plan may no longer be workable, causing serious problems that may lead to dismissal of your case.

We suggest you do not purchase those cheap money orders from the convenience stores as it is very difficult to have the money order traced in the event the trustee claims he or she has not received your payment. It is important to remember to keep copies of all documents relating to any plan payment.

You may stop making payments to the trustee when your employer starts taking money from your paycheck to fund the plan. You should inspect your pay stub carefully each pay period to determine whether or not your employer has started taking out the plan payment. If your employer has not started taking out your plan payment after the EDO is served on them, you should contact the payroll department to find out why they are not withholding the money. If your employer refuses to withhold the money for the Chapter 13 plan, you must continue to pay the trustee directly. In any event, you need to inform your attorney immediately upon determining your employer is not going to withhold the plan payment from your paycheck. Be prepared to provide your attorney with the name and phone number of the contact person in your employer's payroll department. In order to eliminate communication errors, we very much prefer you provide the employer contact information in writing, either by e-mail, letter of fax.

The Length of a Chapter 13 Plan

If you plan on paying all of your creditors all of the money you owe them, the plan length will be determined by the amount you owe them, plus your attorney's fees to be paid in the plan and the trustee's fees, divided by your monthly plan payment. If you propose to pay any of your creditors less than you owe, your plan must be no shorter than 36 months. In either event, your plan can last no longer than 60 months. Our bankruptcy attorney will go over your plan thoroughly before filing it. We work to ensure that your payment is realistic and that you have some leeway for unforeseen expenses. It is important to keep in mind the length of your plan is subject to a number of things including the amounts of the creditor's claims; therefore, it may become necessary to recalculate the number of months required to complete your plan once all claims have been filed with the court.

Lawrenceville Consumer Bankruptcy Lawyers

From our office in Lawrenceville, our lawyers represent clients in communities throughout Gwinnett County and Walton County, Georgia. Call us at 770-604-1380 or contact us by email to arrange a free consultation with one of our experienced Lawrenceville Chapter 13 relief lawyers today. At your first meeting, we will determine if you should file for bankruptcy and what information you will need to get started.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.

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It was a great outcome with excellent service! Would highly recommended this company and will use them in the future if needed read on review website

Outstanding Lawyer I have had the pleasure of having Stacy represent me in a criminal case. She was very diligent and kept me up to date as my case progressed. She worked very hard on my behalf and got me a fair and just outcome... read on review website

The support staff at the office were wonderful, but let's face one retains an attorney for the attorney's services, not the staff. Our family's experience was dismal. read on review website

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Wonderful attorney Mr. Smith handled my case last year and let me know exactly what was going on every step of the way. He worked out strategies with me that we used during trial and I was really pleased with the outcome. I felt like he handled my case better than my original attorney ever did. read on review website

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My lawyer was very nice and explained things to me in a clear manor. Our first paralegal was both sick (bad cold) and about to leave the firm. She forgot to have us sign some papers. We sent in the signed papers, but in the transition they were lost for a few weeks. Someone finally found them and things proceeded fine after that. I wasn't happy with the 3 week delay. read on review website

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I have had the pleasure of having Stacy represent me in a criminal case. She is a nonstop machine, working hard for my needs. When my court day finally arrived, Stacy was prepared with all the necessary paperwork, jury questions, witnesses and worked with the solicitor to get the outcome we had discussed... read on review website

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I have retained Sherry Lankford in a domestic matter and I find her approach to be refreshing. She is aggressive and encouraging. I felt very comfortable talking with her and very quickly realized we selected the correct attorney to handle this case. Sherry and her team jumped quickly and completed a task in less than s that normally requires two weeks... read on review website

Stacy Garguilo is one of the best attorneys I have ever met. She can be blunt at times but I found it very helpful as she would not promise the world and deliver nothing close to the expectations. I hired her for a child custody modification and she laid out my case with truth and honesty. read on review website