The bankruptcy lawyers at Woodall & Woodall have helped more than 22,000 people in southern Georgia file bankruptcy. We service Valdosta, Albany, Moultrie, Thomasville, Douglas, Tifton, Waycross, Leesburg, Americus, Bainbridge, Cairo, Cordele, Pearson and 35 counties in South Georgia.
Cairo, GA residents, we have considerable experience with Chapter 13 and Chapter 7 bankruptcy, and can tell you which is a good choice for your circumstances.
Oftentimes when clients approach us, they have heard about the different types of bankruptcy but aren't sure which one is right for them. The two common types of bankruptcy that individuals files are Chapter 13 and Chapter 7. In this article we'll discuss the difference between Chapter 13 and Chapter 7 bankruptcy.
When you file for Chapter 7 bankruptcy, a trustee is appointed to administer your case. In addition to reviewing your bankruptcy papers and supporting documents, the Chapter 7 trustee’s job is to sell your nonexempt property to pay back your creditors. If you don’t have any nonexempt assets, your creditors receive nothing. As a result, Chapter 7 bankruptcy is typically for low income debtors with little or no assets who want to get rid of their unsecured debts.
Chapter 13 is a reorganization bankruptcy designed for debtors with regular income who can pay back at least a portion of their debts through a repayment plan. If you make too much money to qualify for Chapter 7 bankruptcy, you may have no choice but to file a Chapter 13 case. However, many debtors choose to file for Chapter 13 bankruptcy because it offers many benefits that Chapter 7 bankruptcy does not (such as the ability to catch up on missed mortgage payments).
In Chapter 13 bankruptcy, you get to keep all of your property (including nonexempt assets). In exchange, you pay back all or a portion of your debts through a repayment plan (the amount you must pay back depends on your income, expenses, and types of debt). For this reason, Chapter 13 is commonly referred to as a reorganization bankruptcy. Typically, Chapter 13 bankruptcy is for debtors who can afford to make monthly payments to get caught up on missed mortgage or car payments or pay off nondischargeable debts such as alimony or child support arrears.
If you are considering bankruptcy and would like to explore all of your options, we offer a free consultation with one of our experienced lawyers. Please call 229-247-1211, or complete the form today.
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The bulk of Grady County, centered on Cairo, is located on the Upper Ochlockonee River sub-basin of the larger Ochlockonee River basin. The county's northwestern corner is located in the Lower Flint River sub-basin of the ACF River Basin (Apalachicola-Chattahoochee-Flint River Basin).
Grady County's western border, from Whigham south, and all of its southern border, is located in the Lower Ochlockonee River sub-basin of the same Ochlockonee River basin. Finally, a very small chunk of the county's southeastern portion, bisected by U.S. Route 319, is located in the Apalachee Bay-St, Marks sub-basin of the Ochlockonee River basin.