Special Challenges for the Self Employed Filing Chapter 13 Bankruptcy in Atlanta

You are eligible to file Chapter 13 if you are self employed but be aware that the process is much more difficult that it is for a salaried employee.

As I discuss in this video, Chapter 13 assumes that you will have regular, steady income and consistent expenses. If you are self employed, get paid on commission or have seasonal earnings, it can be difficult to craft a payment plan that will pass the scrutiny of your Chapter 13 trustee.

Further, Chapter 13 trustees usually demand documentation to prove what you earn and what you spend. Unless you are paying all of your creditors at 100 cents on the dollar, you will need to show receipts and bank statements. The trustee will calculate averages for your income and expenses and apply those averages to your budget - if your income is trending down or expenses are trending up, you may have to explain this to the bankruptcy judge.

Self employed people may also end up paying more for Chapter 13 services. If your income fluctuates post-confirmation your lawyer may have to file and argue a motion to suspend payment or to reduce your plan payment - these are extra cost services that will increase the fee you pay.

If you are self employed, you would be best served by hiring a lawyer with experience in this type of representation. #chapter13bankruptcy #atlantabankrutcyattorney #chapter13forselfemployed #chapter13andcommissioedsales #northerndistrictofgeorgiabankruptcy
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Видео Special Challenges for the Self Employed Filing Chapter 13 Bankruptcy in Atlanta канала Personal Bankruptcy Law Atlanta