If you want to discharge the most of your debt, this action guide gives you tips to eliminate the most debt, including medical, credit, and mortgage debts.
Know Your Rights
You have a right to file bankruptcy as a U.S. citizen, a right to a fresh start. Sometimes you may not be eligible for bankruptcy, but you always have some options, and almost always have the right to file either Chapter 7 or Chapter 13. Living in Atlanta is unique, but the major benefits are universal. You can discharge credit and medical debt with a Chapter 7 bankruptcy; you can protect your home from foreclosure while paying on other debts with a Chapter 13 bankruptcy.
Educate Yourself
Research may not have been your most enjoyable part of school, but it’s really not that hard these days. You can go directly to U.S. government web sites for rules and regulations on bankruptcy. You can read valuable information on blogs just like this on. You can stop by the library, ask for materials, and find magazine articles and books explaining exactly how to solve your debt problems. Did you know, for example, that the “automatic stay” stops all collections against you for some months, whereupon you can discharge the debt causing it? That’s some of the valuable info you can get on this blog, on government sites, and at the library.
Georgia Bankruptcy Eligibility
If you want to discharge debt with a bankruptcy, you need to know your eligibility. Here on Georgia Debt Law, we go over eligibility rules weekly. If you make too much money as an individual or family, you may have to file Chapter 13 bankruptcy instead of Chapter 7. If, on the other hand, you owe hundreds of thousands if not millions in unsecured and secured debts, you may be ineligible for Chapter 13 bankruptcy.
Chapter 7 to Discharge Debt
Chapter 7 bankruptcy is effective for Atlanta residents who simply cannot keep up with interest rates and penalties. There is no limit on how much credit card, medical, or mortgage debt you can discharge. As long as you do not make a more than average income, you can be free of that huge credit card debt, that impossible medical debt, or that mortgage you cannot keep paying on.
Chapter 13 to Discharge Debt
Chapter 13 bankruptcy, though used less than Chapter 7, has some major benefits too. You are technically still “discharging” your debts, but by paying on them over time. You might save your Atlanta home too, a major benefit, by stopping a foreclosure before it begins.
Atlanta Bankruptcy Lawyer
In Georgia, unemployment is over 10%, higher than the national average. If you walk down past 250 homes, one will go into foreclosure this month, if not more. These problems can be life changing, but you have rights, and you have options. While you can forgo hiring an Atlanta bankruptcy lawyer, he or she can ensure you discharge the most debt and protect the most property. And a good one should charge a fair fee, from $1,000 to $2,500.
