J. MICHAEL GREENE
Attorney at Law

 

CHAPTER 13

For those people who need to keep a car or house, but are behind in their payments

 

            A Chapter 13 bankruptcy, also known as reorganization bankruptcy, is a chapter in the Bankruptcy Code that allows people to reorganize their debt into a more manageable single, payment plan that typically lasts between three to five years.

 

            A Chapter 13 bankruptcy includes any arrearages so that you do not have to catch-up debts outside of what you pay in the Chapter 13 bankruptcy.

 

            A Chapter 13 bankruptcy gets rid of most unsecured debts like credit cards and medical bills without any payment.

 

            A Chapter 13 bankruptcy “automatic stay” stops garnishments, repossessions, foreclosures, and tax levies.

 

            A Chapter 13 bankruptcy in Georgia has exemptions that cover most homes, furnishings, cars, etc. and most people do not lose anything in the bankruptcy.

 

​Chapter 7

For those people who need to just get rid of unsecured debt

 

            A Chapter 7 bankruptcy lets you get rid of most all of your debt unsecured debt which includes credit cards and medical bills. 

 

            A Chapter 7 bankruptcy lets you keep your house and cars so long the creditor agrees which usually means that you are current.

 

            A Chapter 7 bankruptcy in Georgia has exemptions that cover most homes, furnishings, cars, etc. and most people do not lose anything in the bankruptcy unless we wish to give it up