Atlanta Bankruptcy Firm Clark & Washington Sets the Record Straight on Chapter 13 Bankruptcy

Clark & Washington, an Atlanta bankruptcy law firm, clears up several common misconceptions concerning chapter 13 bankruptcy.

2012-09-14

NORCROSS, GA, September 14, 2012 (Press-News.org) Chapter 13 bankruptcy is a powerful financial tool that can help you manage and eventually eliminate overwhelming debt while protecting your most important assets. Despite these benefits, many people are hesitant to file due to some ideas that are commonly believed about Chapter 13 bankruptcy, but not at all true. The Atlanta bankruptcy attorneys at Clark & Washington hope to set the record straight by clearing up some of these misconceptions.

Myth 1: Filing for Chapter 13 cannot save you from home foreclosure.
On the contrary, you can and should file for Chapter 13 to prevent a foreclosure. Once you have properly filed, the bankruptcy court will immediately stay all foreclosure efforts. This stay will remain in effect as you get all of your affairs in order and pay off your debt.

Myth 2: Chapter 13 is for the unemployed.
This could not be further from the truth. In fact, you need to be employed in order to even qualify for Chapter 13. Without proof of a steady income, you are ineligible, as you would not be able to make the required monthly payments. In the case of unemployment, your bankruptcy attorney may instead recommend that you file under Chapter 7.

Myth 3: Your income is too high for Chapter 13.
Having a good steady income is actually preferable for filers of Chapter 13 (it's even called the "wage earner plan"). Unlike Chapter 7, there are no upper limits on your income in order to file under Chapter 13.

Myth 4: You will not be able to take out any more loans if you file.
While filing for bankruptcy will appear on your credit report for 10 years, this does not necessarily mean you will not be able to take out a loan during that period. Many people who are good candidates for bankruptcy may have already acquired some black marks on their credit. Chapter 13 can help you to pay back your debt, so that you can begin to rebuild your credit for future loans.

Myth 5: Filing is pointless because you will need to pay everything back anyway.
Although you will need to make regular monthly cases towards your debt, filing for Chapter 13 bankruptcy may still save you money. The percentage of your debt that you must repay will be determined based on your income, your total debts, and the value of your assets. This might mean that you may end up paying less total, along with the added benefit of getting to keep your home.

If you are considering filing for bankruptcy in Atlanta, Clark & Washington can help you determine if Chapter 13 is the best choice for your situation. Request a free, no-obligation consultation with an Atlanta bankruptcy lawyer at http://www.cw13.com.

About Clark & Washington

Established in 1983, Clark & Washington is now one of the leading bankruptcy filers in the southeast. They have locations in Georgia, Florida, and Tennessee. Clark & Washington specializes in personal chapter 7 and chapter 13 bankruptcy. They offer honest, helpful legal advice to those experiencing financial hardships.

For more information visit: http://www.cw13.com.

For all media inquiries, please contact:

Anne DeVito
Lead Content Developer
Cardinal Web Solutions
http://www.CardinalWebSolutions.com

ELSE PRESS RELEASES FROM THIS DATE:

Online Master's Degree Portal, Universities.com, Discusses Online Degree Myths

2012-09-14

Universities.com understands that everyone has heard myths about online universities. Some people claim that the education isn't as good if it didn't involve sitting in a classroom, that employers won't accept online degrees when hiring, and that online classes are easier than those at traditional universities. Anyone who has successfully completed an online master's degree in marketing or an online doctorate in education can quickly refute those falsehoods. The truth of the matter is that accredited online universities offer classes that may be even more challenging ...

Google Plus Being Used by Elite Lawyers to Help Each Other and the Public Online

2012-09-14

Many companies are using social media websites, including Google Plus, or Facebook, to get their name out for internet users to see. This is not only limited to companies, and kids. One segment of the population that traditionally was not even allowed to advertise, lawyers, are also finding the use of social media as a way to establish their presence on the internet using this latest site. One lawyer in particular, Michael P. Ehline, Esq., has taken social media for lawyers to the next level. Ehline, a follower of the Matt Cutts blog, was involved in social media when DIGG, ...

CACHEMETALS.com, North American Seller of Gold and Silver Precious Metals, Launches Online Bullion Store

2012-09-14

Cache Metals Inc., Toronto Based bullion retailer of gold, silver and other precious metals, launches a new online store: https://www.cachemetals.com/store/. Clients can now buy gold, silver and other Precious Metals securely online at wholesale prices. Online payment methods include; credit card, Interac Online, as well as bank wire, bank draft and money order. Cache Metals sells a variety of Precious Metals products including; Gold and Silver bullion bars and Gold and Silver Canadian Maple Leaf coins. View their entire selection of bullion online. Thomas Green, ...

Leur Lab(TM) Integrated Aesthetics Opens Flagship Location in Newport Beach

2012-09-14

Founded by recognized aesthetic expert Michael M. Dao M.D., Leur Lab(TM) Integrated Aesthetics has opened the doors of its flagship location in Newport Beach, offering an alternative destination for skin rejuvenation and age management solutions, which incorporate the convenience factor that today's clientele craves. Fashioned more like a glossy, boutique hotel lobby than a traditional med spa, Leur Lab's(TM) sleek hardwood floors, modern fireplaces, and shimmering chandeliers provide an enticing space for patients to relax without disconnecting during their visit. ...

Nazmiyal Collection - A Small Antique Rug Company is Thriving Despite a Down Economy

2012-09-14

The antique rug world has seen many changes over the past few years and while the economic atmosphere would seem detrimental to the demand for these luxury items, in reality there has never been a better time for these works of art. Interior design professionals are as busy as ever and have been clamoring for the next major source for rare and decorative pieces while collectors from around the world are paying record-setting prices for the best pieces. While many companies have been downsizing and depleting their inventories in order to pay bills, there is one considerably ...

Newest Health Journeys Guided Imagery Offering Takes Aim at Traumatic Brain Injury

2012-09-14

It's a monumental challenge, but one that has languished outside of our nation's consciousness for far too long. Now, thanks to recent news reports - from the battlefields overseas, to the football fields right in our own backyards - Traumatic Brain Injury (TBI) has finally been thrust into the spotlight. Researchers are just beginning to understand the intricacies of TBI, and most importantly, the best treatments for this complex condition. According to a study in The New England Journal of Medicine, each year, more than 1.5 million Americans sustain mild traumatic ...

Searches for GBP14k+ Cars Increase by 10%, Reports Auto Trader

2012-09-14

Auto Trader offers in excess of 60,000 cars priced GBP14,000 and above, more than double the number offered by any of its main online rivals - 36,280 are used cars, 20,880 are nearly new cars less than 12 months old and 3,510 are new cars. Of the total, more than two thirds are offered by franchised dealers, the remainder being offered by used car supermarkets, independent dealers and private motorists. Nathan Coe, Group Director, Auto Trader said: "With more than double the number of cars costing GBP14,000 and above than any of our main online rivals, and with ...

Fresh Claims of Mis-Selling by Rogue Insolvency Practitioners, Says Trust Deed Scotland Company

2012-09-14

Capital Credit Union and ScotWest Credit Union have been disturbed to discover some of the worst cases of mis-selling of Scottish Trust Deeds, Sequestration Agreements and other unsuitable plans are rogue insolvency practitioners. The use of insolvency agreements has greatly increased in recent years, and the once stringent rules for bankruptcy awards have been relaxed to make it available to a wider range of individuals. Combined with more widespread promotion of bankruptcy as an acceptable debt management solution, the result has been an increasing number of awards ...

How Food and Supplements From International Protein Can Boost Mental Health

2012-09-14

Food is a natural part of life for all organisms on earth. While people eat food every day, they may not understand how their food choices can impact their physical and mental health. Over time, the wrong food choices can cause weight gain, heart disease, an increased risk of cancer, depression, anxiety and a wide variety of other health issues. The following guide explores the intricate link between food choices and mental health. The average human being consumes 2,000 calories every day. This amounts to over 700,000 calories every year. While it's possible to get ...

Prompt Proofing Blog Post: Marketing Tips: Focusing on Backlinks for Online Marketing

2012-09-14

Backlinks - that's a term you have probably heard often when looking into Internet marketing. What does it mean, though? How important ARE backlinks? And, of course, the all-important question: how do you get more of them? Here's the lowdown: Backlinks are one factor that Google's algorithm looks at when deciding on a website's search rank. The reason? The more backlinks a site has, the more Google is likely to think that site contains quality content that deserves to be shared - and therefore, deserves a high rank. It makes sense: good news spreads fast, and ...

LAST 30 PRESS RELEASES:

Global social media engagement trends revealed for election year of 2024

Zoom fatigue is linked to dissatisfaction with one’s facial appearance

Students around the world find ChatGPT useful, but also express concerns

Labor market immigrants moving to Germany are less likely to make their first choice of residence in regions where xenophobic attitudes, measured by right-wing party support and xenophobic violence, a

Lots of screentime in toddlers is linked with worse language skills, but educational content and screen use accompanied by adults might help, per study across 19 Latin American countries