In Georgia, consumers file for chapter 13 after they prove their eligibility. They qualify based on their income level and ability to pay the monthly payments. They must also follow specific steps related to their claim as directed by the county court. The following are steps for filing a successful claim for Chapter 13 In Jonesboro GA.
File the Petition for the Bankruptcy
The consumer completes forms that identify all assets and debts. The forms require financial information such as bank account numbers and the current balance. With these forms, the attorney files the proposal for the repayment plan. The plan must reflect 100% payment for mortgages, child support, alimony, and similar debts. It must propose provisions for unsecured debts and payments made through disposable income. All bankruptcy forms, the petition, and the repayment plan proposal are filed.
Submit the First Monthly Payment
After the court appoints a trustee, the automatic stay begins. At this point, the claim hasn’t been approved. However, the consumer must pay their first monthly payment identified by the repayment plan. This show of good faith displays the consumer’s commitment to fulfilling the obligations of the bankruptcy.
Appear at the Meeting of Creditors
A 341 hearing or meeting of creditors is scheduled by the trustee. The trustee verifies information presented by the claimant and their creditors. The trustee conducts a comparison and asks questions to achieve accuracy.
Appear at the Confirmation Hearing
The confirmation hearing addresses any inconsistencies in the claim. It also remedies any objections filed by the creditors to change the plan. Once approved, the claim is confirmed. The creditors file petitions for proof of acceptance of the plan.
Complete All Obligations in the Claim
To avoid a discharge until the end of the case, the consumer completes all obligations listed in the claim. They submit their payments on-time at the required percentage defined in the plan. At the end of the case, the court discharges debts according to the terms of the repayment plan.
In Georgia, chapter 13 provides consumers with a repayment schedule. The schedule identifies a total monthly payment to settle their debts. The plan enforces stipulations regarding how the consumer uses their resources. It also provides further protection for assets.
