Unsecured Debt and Filing Atlanta Chapter 7 Bankruptcy

Secured debt is money you owe with assets such as your home and car. A mortgage would be a secured debt, because the home would be like collateral to be taken if you fall behind in payments. Unsecured debt, on the other hand, is actually debt with no collateral. Though creditors can still take collections against you, sometimes get rights to your property, the debt is different. Unsecured debt can be credit card debt, medical bills, and deficiencies after a foreclosure.

One of the best ways to eliminate unsecured debt is Chapter 7 bankruptcy. For Atlanta residents, Chapter 7 has many advantages. You can halt all collection efforts. You can eliminate debts you simply cannot afford. If you fear assets may be taken or other legal action will ensue, you can be protected under law. There are some disadvantages too. This will be a mark on your record for 10 years. You won’t be able to file again for 8 years (or 6 years if you filed Chapter 13 first). Some assets by law can be liquidated in order to pay back some of these debts; assets like a home and car are rarely included, but it happens.

Atlanta Chapter 7 bankruptcy isn’t always your best option. Sometimes filing Chapter 13 bankruptcy has more advantages. As long as your unsecured and unsecured debts are not too high, you are eligible to file, where you may not be eligible for Chapter 7 if you make too much money. If you have a lot of assets, if you’re home is in danger of foreclosure, you can keep these assets and pay debts in manageable installments.

How does Chapter 7 liquidate assets?
You will be charged with a Georgia bankruptcy trustee who will oversee your case. This trustee has the power to sell assets. However, few will lose anything: the great majority of Chapter 7 filers lose no assets. So don’t be afraid of losing your home and car. By following the laws and hiring an Atlanta bankruptcy attorney, you can save assets and discharge debt.

Will all unsecured debt be discharged?
No, the big three debts most people have are credit card, medical, and mortgage. These debts can technically be discharged, though you may lose the home if you do not pay on it. Say you have $20,000 in credit card debt; in this case, filing Chapter 7 bankruptcy can discharge these debts in a matter of months. Or say you have $50,000 in  medical bills; once again, filing Chapter 7 can eliminate these debts.

Debts you can’t discharge include alimony, child support, and back taxes. These are unsecured debts, but by law you have to pay them.

How much does it cost?
Chapter 7 bankruptcy is very reasonable for Atlanta residents looking to eliminate debts. You pay only $299 to file with the court. You should also hire a lawyer. A lawyer will cost more, from $1,000 to $2,500 depending on the time involved for your case.

Why a Lawyer?
There are hundreds of Atlanta bankruptcy lawyers who can help you, but not all are equally experienced and have fair prices. You need a professional, experienced lawyer who will walk you through this process. A lawyer actually saves you time and money, allowing you to discharge the most debt in a timely manner.

Filed under: Bankruptcy Information — Tags: , , , , , , , , , — jmalewitz @ 1:09 pm

Before You File Georgia Chapter 13, Read This

Why not file for Chapter 7 bankruptcy instead of Chapter 13? Before you start making decisions, there are some key points you need to know. First, let’s talk eligibility for Georgia filers.

Bankruptcy Eligibility
For Chapter 7 filers, you have to be below the median income for Georgia. For Chapter 13 filers, it’s uniform: your secured debts cannot exceed $1,010,650 and your unsecured debts must be lower than $336,900. Secured debts are items such as your home and car, where the creditor can take if no payment has been made. Unsecured debts are different in that the creditor has no leverage on you via assets, such as with a credit card or medical bills.

Changes in the Bankruptcy Code several years ago instituted new eligibility requirements, which tend to change based on income and debts. The numbers for Chapter 13 will change again in a few years, as that’s how it works. The changes have made it more difficult to file Chapter 7, making Chapter 13 more common than before.

Why File Chapter 7?
For Georgia residents with little to no income and minor assets, Chapter 7 is much better. It can discharge credit and medical debts of high amounts. If your problem is you don’t have enough money and that may not change – perhaps because of a job loss – you are likely eligible for Chapter 7. The good news here is you often lose nothing, though your credit will be hurt for several years and if you intend to buy a new home or car soon you may have some trouble.

Why Chapter 13?
Georgia residents who have an income, perhaps a home and car, can utilize Chapter 13 bankruptcy in a different way. For one, you pay back some if not all the debts, but you also gain some benefits. It’s been talked about quite often on the Georgia Debt Law blog, and it should be repeated: Chapter 13 is your best option to avoid foreclosure, keep all your assets, and sometimes to avoid wage garnishments. If you file Chapter 7, your assets can technically be liquidated, though that’s not common. But if you have an expensive home you’ve been paying on for 10 years, you may want to avoid losing it. In this and similar cases, Chapter 13 is very smart.

Making the Decision
Bankruptcy isn’t always your best option, but at the least you can sit down and talk with professional counsel about all your options. You may be able to pay these debts yourself. However, if you fear medical or credit card bills will ruin you, hiring a lawyer for Chapter 7 bankruptcy is smart. If you fear home foreclosure, hiring a bankruptcy lawyer to help with Chapter 13 can save it.

Before you file bankruptcy, the best choice you can make is hire a professional Georgia bankruptcy lawyer.

Filed under: Bankruptcy Information — Tags: , , , , , , , , , , , — jmalewitz @ 8:59 pm

Fear On Bankruptcy and Solving Problems

Fear of bankruptcy, whether it’s filing or appearing in court, can quite often be nightmarish. However, bankruptcy court works to help citizens, not punish or hinder them. The main goal is to give you a fresh start financially, or to buy you more time before foreclosures and repo-men.

There are many details to filing bankruptcy, and much that can happen outside of your control. You may or not be eligible for a specific bankruptcy, you may lose nothing or you may lose a lot, you may lose your home or you may save it–these are all decisions made in court based on your situation. It’s understandable to have some fears, but the more you know the  less you have to fear.

The good news is most bankruptcy filers, especially Chapter 7 bankruptcy filers, lose practically nothing. And successful Chapter 13 filings can often give you the extra time to put your finances in order. So who decides what of yours is sold? It’s not really based on the fact you deserve it or you don’t. It depends on your current assets and what you owe.

The first step to stopping fear is to hire an experienced lawyer.

Who should you hire?
Who you hire may have a bigger effect on your bankruptcy than you know. Just in 2009, over 1 million people filed bankruptcy. The majority hired bankruptcy lawyers, opting to go with experience. The problem is the number of lawyers who specialize in bankruptcy make one lawyer taking on 10 if not more cases a reality. You should hire someone who can help influence the court decision by turning in correct paperwork, spend adequate time with you, never misses a court date, and can educate you on how you should act.

What decisions are made in court?
Many decisions are made out of court, but once you file for bankruptcy, many processes go into motion. If you file Chapter 7 bankruptcy, you will appear in court briefly and most likely be done. In Chapter 13, which can be a longer process, you appear for a longer period.

You can expect questions in court. The following may be asked by the judge.

Do you own a home?
Have you transferred any property?
Do you have the right to sue anyone for bodily injury?
Have you listed all of your debts and assets?
Are you expecting to inherit money shortly?

In chapter 13 filing, you will likely be asked more questions. But it still takes only 10-15 minutes and you’re done.

Are you eligible?
The court does make the decision on whether you are eligible. It depends on your state. If you’re a Georgia resident, your income levels must be lower than the state median income. This varies depending on how large your family is. Look to this POST for more info on eligibility in Georgia.

What will you lose?
Most bankruptcy filers happily lose nothing. For instance, in the majority of Chapter 7 cases, where a trustee liquidates your assets, you lose nothing. In and out of court, the decision will be out of your hands.

What does the Trustee do?
The trustee’s job is to first make sure you are eligible, and second to ensure your documents are correct.

What happens upon successful filing?
In Chapter 7 cases, your discharge occurs only a few months after a decision. In Chapter 13, you are in it for the long haul–3-5 years.

Filed under: Bankruptcy Information — Tags: , , , , , , , , , , — jmalewitz @ 8:10 pm

How to Declare Bankruptcy in Georgia

The good news is Georgia foreclosures and bankruptcy rates, though still a problem, are starting to look better. In 2009, Georgia and more specifically Atlanta had some of the highest rates of foreclosure in the country. And bankruptcy, sometimes as an effect of foreclosure, was common.

This is not to say filing bankruptcy is always to be avoided. In tough economies, when you lose your job, when a foreclosure is close and you want to save your home — these are some of the many cases where filing bankruptcy can be beneficial.

So how do you declare bankruptcy in Georgia?

Some of it’s the same as all other states, but depending on where you live, you’ll either file in Georgia Northern Bankruptcy Court, Georgia Southern Bankruptcy Court, or Georgia Middle Bankruptcy Court. If you live in Atlanta and want to file Chapter 13 or Chapter 7 bankruptcy, for example, you would go to the Georgia Northern Bankruptcy Court.

Now that you know where to go, it’s time to find out how to actually file and successfully declare bankruptcy.

Collect Personal Financial Information
First, you want to collect certain personal information. For personal bankruptcy, you need to show financial information, secured and unsecured debts, tax returns for the last two years, deeds to real estate, car titles, and loan documents.

You may be wondering, what are secured and unsecured debts? Secured debts are debts you have with collateral such as your home and car; unsecured debts are other debts such as credit cards where there is no home or car to be used as collateral on the debt.

Complete Bankruptcy Forms
At this next stage, you should consult with an experienced Georgia bankruptcy attorney in your area. You want one who specializes in personal bankruptcy. Why? You will have to complete some complex bankruptcy forms; you can write them yourself, but it might be wise to hire a professional so you don’t make mistakes. You will also be paying the fee for personal bankruptcy — either $299 for Chapter 7 or $274 for Chapter 13.

File with Local Bankruptcy Court
The next step after filling out all the necessary forms is to file with the court. This is the easiest step. And after you reap the benefits of bankruptcy.

After Filing
The best part of filing personal bankruptcy is what’s called an “automatic stay,” which goes into effect after you file with the Georgia court. Creditors can no longer contact you regarding claims on debts. For Chapter 7, a trustee will be appointed to liquidate your assets and pay off creditors; in most cases, you lose nothing, but some do lose assets such as a home and car. For Chapter 13 bankruptcy, the automatic stay is much more powerful. This is because if you can catch up with the mortgage payments and stay on time paying them, you don’t have to worry about being evicted. In Chapter 7, you do get several months time, but you will likely have to find a new residence.

Who You Should Hire
This may all sound complex, and it filing bankruptcy can be. With the help of an experienced Georgia bankruptcy attorney, you can create the best strategy for you. You have a very good chance of losing absolutely nothing, and pay a small price for all the benefits. If you’re considering filing, don’t wait too long; hire an experienced bankruptcy attorney today.

Filed under: Bankruptcy Information — Tags: , , , , , , , , , — jmalewitz @ 12:51 pm

Before You Hire A Georgia Bankruptcy Attorney, Read This

Filing personal bankruptcy can be advantageous, but also very scary. You’re placing your financial future on the line so you can avoid losing everything you own.

Just what form of personal bankruptcy should you file?  What forms are you eligible for? How much will it cost? And what should you look for in a Georgia lawyer?

This post helps.

Forms of Personal Bankruptcy
Since foreclosure is less common in Georgia than some other states, but since unemployment is still relatively high, there are many choices to make in filing bankruptcy. An experienced Georgia bankruptcy attorney can help you, but first you need a quick education on the subject.

Chapter 7 bankruptcy is the most common, but in Georgia eligibility can be a problem. Chapter 13 bankruptcy is very good for home owners, but if you’re unemployed, you may have trouble filing.

Chapter 7 bankruptcy can in fact eliminate all your credit card debt, and many lose practically nothing in assets sold. Chapter 13 can in fact save your home from foreclosure, and you can get more time to pay other bills as well.

Eligibility for Bankruptcy
If you make too much you may not be eligible for Chapter 7. The general rate is the median income for  Georgia residents. Here is a breakdown.

1 Georgia Resident: Yearly Income $40,691
2 Georgia Residents: Yearly Income $55,258
3 Georgia Residents: Annual Income $61, 104
4 Georgia Residents: Annual income $68,502

If you make more than these numbers, you have to file Chapter 13. Most people are eligible for this.

If you have more than $360,475 in unsecured debts and over $1,081,400 in secured debts you cannot file Chapter 13.

Lawyer Fees for Bankruptcy
Since filing personal bankruptcy itself is very cheap–$299 for Chapter 7 and $274 for Chapter 13–it’s also good to get a barometer on lawyer fees. These do vary depending on experience. You should, as a rule of thumb, contact several and ask for general rates and if they charge for initial consultations. The general rates for most personal bankruptcy is higher than filing fees, usually between $1,000 and $2,000.

You Can’t Afford a Lawyer?
Filing bankruptcy is a tough task to do alone. You should really consider how you can put the money together. Factor in how much money you’d lose if this bankruptcy failed. For instance, what if you have $20,000 in credit card debt? What if you were about to lose a $100,000 home?

In some cases, you can’t afford a bankruptcy attorney. But in most instances, they’ll be able to work with you, especially if you are working or have an income.

Filed under: Bankruptcy Information — Tags: , , , , , , , , , , — jmalewitz @ 11:23 am

What Happens in Georgia Bankruptcy Court?

How does the Georgia bankruptcy court work? Bankruptcy, by federal law and the bankruptcy code, allows for debtors relief from bills. The current bankruptcy code for personal bankruptcies involves only Chapter 7 bankruptcy and Chapter 13 bankruptcy.

What Chapter 7 bankruptcy Means To You
Chapter 7 bankruptcy is a liquidation process designed to eliminate debt by appointing a trustee to liquidate your assets.

What Chapter 13 Bankruptcy Means To You
Chapter 13 bankruptcy, now more common than in the past years with new bankruptcy codes for income limits, essentially is about paying back your debt only over a longer period.

What happens in Chapter 7 bankruptcy court?
Chapter 7 bankruptcy, beyond filing with courts, is actually a very simple court case where you have little direct involvement. It’s wise to hire a good Georgia Chapter 7 lawyer who can help you through the process. In most cases, you will rarely if ever have any involvement in the court proceeding. The only time you may be involved is when the is when an objection has been raised in the case.

What happens in Chapter 13 bankruptcy court?
Chapter 13 filers are more involved than Chapter 7 filers, but it’s still limited. You only have to appear before the court at a plan confirmation hearing. You really only have to be involved with the meeting of creditors, held at the offices of the U.S. trustee.

How Chapter 7 bankruptcy Helps
Typically, you will have no problems filing for bankruptcy beyond the future credit history it entails (bankruptcy stays on your record for 10 years). Chapter 7 filers will rarely lose major assets, will often be accepted unless you make too much money, and you’ll be discharged of debts in a  matter of months.

How Georgia Chapter 13 Bankruptcy Helps
Georgia Chapter 13 is more common because of bankruptcy code changes in the past decades; this includes all U.S. citizens and Georgia Chapter 13 filers. The most common benefit of filing Georgia Chapter 13 is saving your home from foreclosure. This is very common, especially in the economy in the U.S. the past 5 years and in the home owner problems many have had. If you file Georgia Chapter 13 bankruptcy, you can pay back debts over 3-5 years, including mortgage payments. But you must stay current on the payments.

How Georgia Bankruptcy Attorneys Can Help You
Bankruptcy is far more complex than filling out some documents and submitting to a court. Bankruptcy code changes from time to time. For instance, did you know Chapter 7 is off the table for far more filers than ever before? In order to successfully file, a good Georgia bankruptcy attorney is key.

Filed under: Bankruptcy Information — Tags: , , , , , , , , — jmalewitz @ 12:17 pm

Advantages and Disadvantages of Chapter 7 Bankruptcy for Atlanta Residents

Filing Chapter 7 bankruptcy liquidates your assets to pay back debt, and discharges the majority of your debts. If you have large medical bills, credit card debt, or any other debt you have no way of paying back, Chapter 7 bankruptcy can help.

For Atlanta residents, filing any kind of bankruptcy has advantages and disadvantages. This post highlights the main advantages and disadvantages of filing Chapter 7 bankruptcy in Atlanta. You should also be aware of Chapter 13 bankruptcy, and how it’s different from Chapter 7 bankruptcy. Contacting a Georgia bankruptcy attorney can help you understand the details.

Time of Filing
You typically file Chapter 7 bankruptcy and get debt discharged within 3-6 months. That’s timely for those under pressure of major debts. You will be debt-free except for certain debts like mortgage, car payments, and other nonexempt items.

Debts Discharged
Most of your debts will be discharged, including credit card debt. You often won’t lose your house, but you still have your mortgage.

No Payments to Creditors
You can stop paying creditors, which often stops harassment. This helps rebuild your finances. If creditors continue to harass you, you can direct them to your attorney.

Keep Most Property
While you can technically lose some property, most Atlanta residents lose a minimum of property after Chapter 7 bankruptcy. You can’t technically clear all your debts, and you might lose your home, but the misconception is that Chapter 13 is better because you keep all your property.

Chapter 13 Bankruptcy In Atlanta
While Chapter 13 bankruptcy is now more common for Atlanta residents and US citizens, Chapter 7 bankruptcy does more than buy you time. You can discharge the majority of your outstanding debts.

Disadvantages for Chapter 7 bankruptcy should be noted. You cannot lose certain type of debts, such as mortgages, student loans, most taxes, and unpaid child support.

Also, you may not be eligible for Chapter 7 bankruptcy in Atlanta. With recent laws, if you now have enough income to do a repayment plan via Chapter 13 bankruptcy, the courts can now take Chapter 7 off the table. It does matter on how much you make, your monthly expenses for things like child support, tax debt, secured debts such as mortgages and car loans, and other forms of debt.

Chapter 13 bankruptcy clearly has advantages too, but if you’re problem is that you simply cannot pay back all your debt, whether it’s medical bills, credit card debt, or other forms of debt, Chapter 7  bankruptcy is the answer.

For Atlanta residents, choosing between Chapter 7 and Chapter 13 bankruptcy can be tough. The best decision you can make is hiring professional Atlanta bankruptcy lawyer who can tell you 1) what you qualify for and 2) help you through the entire process.

Filed under: Bankruptcy Information — Tags: , , , , , , , , , , , , — jmalewitz @ 2:46 pm

Cleaning up Your Credit Report in Georgia

What exactly is a credit report, why should you care, and how do you get one?

A credit report is a document compiled by credit bureaus which shows past financial history. This becomes important if you’ve filed bankruptcy in the past, want a new mortgage, or want to make a large purchase and need a loan.

The three major credit bureaus where you can get credit reports online are Equifax.com, Experian.com, and Transunion.com.

Credit bureaus mainly get data about you from creditors. You can also expect court records to be searched for lawsuits, judgments, and bankruptcies. There is also other information in a credit report, including things like your social security number, employment history, past and present addresses, current and former names, and more specifically you banking history (opened and closed accounts, amount of loans given, current balance, etc.).

For Georgia residents, the best way to clean up your credit report involves working with some credit agencies, being smart in the future with loans you take, and hiring professional counsel who can help you in case you see potential problems in the future.  You can actually get all your credit reports for free if you contact annualcreditreport.com to get them; this is important because you need these in order to improve credit.

In some cases, you can ask for more than one credit report. If you are unemployed and looking for work, for example, you’re entitled to an additional copy. If not, you can pay a small fee to get your additional credit report.

Clean Up Errors in Your Credit Report
Go through your credit report and look for inconsistencies and problems you see immediately. Out-of-date and incorrect information are often the most obvious. For out-of-date info, you can actually get them taken off your credit report, and the same is the case with incorrect information. We’ll go over that more soon.

Out-of-date info on your credit report includes:
-Negative info that’s more than 7 years old, such as lawsuits and criminal records
-Bankruptcies reported more than 10 years after you were discharged

Incorrect information on your credit report may include:
-Wrong names, numbers, social security numbers, employment info or other personal information
-Bankruptcies which don’t state what form of bankruptcy (Chapter 7 or Chapter 13 bankruptcy usually)
-Bank accounts which are not yours, or lawsuits you had nothing to do with
-Incorrect late payment records
-Any account you closed that doesn’t say it was “closed by consumer”

Clean Up Credit Report
There are many way to clean up your credit report, but what can be difficult is removing incorrect information, if not recognizing it immediately. You can request removal of incorrect information, which is simple. Sometimes the credit bureau won’t agree with that, and you can appeal. In most cases, the incorrect info can be removed from your report by filing documents the credit bureau gives you.

Rebuilding Your Credit in Georgia
After you’ve cleaned up the report, and corrected mistakes, it’s time to get work on improving your credit score. It may take a few years, but once you start regularly paying bills on time, get a credit card and pay it on time, you can have more opportunities. If you’re goal is, for example, to buy a home, it may take 4-5 years before your credit score allows you to get a home and mortgage.

Filed under: Bankruptcy Information — Tags: , , , , , , , , , , , — jmalewitz @ 2:00 pm

The Atlanta Debt Options – Bankruptcy and Counseling

You’re about to file bankruptcy. You don’t know the first steps, how it will help, what you might lose, and all your options. The best answer is to hire an Atlanta bankruptcy attorney who can walk you through these steps, advise you on how to handle creditors, and help give you a fresh start.

This guide isn’t an alternative to getting some form of professional debt counsel, but it’s a good start.

Collection Agency Harassment
You have many options when it comes to dealing with creditors. Many, for example, file Chapter 7 or Chapter 13 bankruptcy and hire a bankruptcy attorney to handle creditors. This is simple: you hire an Atlanta bankruptcy attorney with knowledge, ask him/her to handle your creditors, and direct your creditors to the attorney every time they call.

There are other forms of harassment which can be more serious, especially if you’ve yet to file bankruptcy, your outstanding debt is growing, and creditors are calling you on a daily basis. You do have rights.

Steps on Handling Harassment
You can hire an Atlanta bankruptcy attorney to go through this with you, but here are your options if the harassment continues.

The Federal Fair Debt Collection Practices Act (FDCPA) holds collectors responsible for their actions. Creditors cannot: harass you, use abusive language, use false or misleading statements, add charges, and many other forms of harassment which will likely be obvious.

Also under the FDCPA, you can file for creditors to stop contacting you ever unless they’re giving up or suing you. You make a request in writing for this step.

Choosing Atlanta Bankruptcy
If you’ve been dealing with creditors, you now see the benefits of filing bankruptcy. You can often get them to stop. However, filing Chapter 7 or Chapter 13 bankruptcy as an individual is not always your best option. This too is where counsel can help you decide.

If creditors are harassing you, that shouldn’t be the main  reason you file. For one, sometimes they can continue, and secondly, there are easier alternatives such as filing under the FDCPA.

You can also negotiate with these creditors. Often they will get nothing if you file Chapter 7 bankruptcy, and will be more willing to negotiate. It depends on whether what you owe is exempt or nonexempt.

Repayment Plan
You have even more options for Atlanta bankruptcy. If you want help to handle creditors, a nonprofit credit or debt counseling agency can help you repay these debts correctly. Many, for instance, may be paying back the wrong debts or aren’t doing the most with what money they have. A credit or debt counseling agency can guide you through your options, and you can still file for bankruptcy if you feel none of these options are working.

Filing Bankruptcy in Atlanta
There are many benefits of filing for bankruptcy too. It’s a good option for those with outstanding debts that are impossible to pay back. If you’re afraid of losing everything, hiring an Atlanta bankruptcy attorney is your best choice.

Filed under: Bankruptcy Information — Tags: , , , , , , , , , , , , , , — jmalewitz @ 2:12 pm

5 Tips on Filing Bankruptcy in Atlanta, Georgia

With the rate of bankruptcies growing, it’s more common than ever for Atlanta residents to fall behind on home and car payments, not to mention basic living expenses. Then, a new bill arrives, or you lose your job, or a medical emergency occurs.

When should you file for bankruptcy in Atlanta?Should you hire an Atlanta bankruptcy lawyer immediately? And what possessions can you save? There are few definitive answers except in the rules of filing placed by the federal government. These are the same, technically, for everyone, but few of us have the exact same problems.

Read the following tips to help you make the bankruptcy decision.

1- Learn Your Options, Atlanta Chapter 7 and Chapter 13 Bankruptcy
You have two options in most cases for bankruptcy, Chapter 7 and Chapter 13. It’s important to know the differences if you file for bankruptcy in Atlanta. For one, Chapter 7 clears the majority of your debts within 4-6 months. Chapter 13 bankruptcy will not cancel most debts, except perhaps 2nd and 3rd mortgages, but it’s advantageous because you can hold onto more property. For example, if you fear home foreclosure, Chapter 7 bankruptcy might not help, but with Chapter 13 bankruptcy you can negotiate to save it or buy yourself more time to save it.

2-Alternatives to Filing Bankruptcy in Atlanta
There are some alternatives to filing bankruptcy in Atlanta, namely negotiating with creditors and working with debt counseling. If you are sick and tired of creditors calling your home, you can technically get help without filing bankruptcy. And it must be stated, just because you file bankruptcy does not mean creditors will always stop harassing you. If you work with a debt counseling agency, you can expect many benefits in repayment plans and also not have a bankruptcy on your record.

3-Save Your Home After Filing Bankruptcy in Atlanta
In some instances, filing bankruptcy in Atlanta is your best option. If you file Chapter 13 bankruptcy, you can buy time to repay past payments and also negotiate with creditors. The most helpful part is that you can often cancel 2nd and 3rd mortgages. Chapter 7 bankruptcy may cancel your debt, but you would also risk losing your home.

4-Credit Cards and Creditors
Filing Chapter 7 bankruptcy can cancel credit card debt in a matter of months, as well as some other personal debts. There are some, such as taxes and alimony, which won’t be cleared. Once you file bankruptcy, you can direct creditors to your lawyer. They can still contact you after you file, but it’s wise to have your lawyer handle them,

5-Hiring Professional Atlanta Bankruptcy Lawyers
If you want to file for Chapter 7 or Chapter 13 bankruptcy, hiring a professional bankrupt lawyer is one of the most important decisions you will make. A knowledgeable bankruptcy attorney in Atlanta can explain the options, the details of Chapter 7 and  13 bankruptcy, help with documentation and creditors, and also make your best case in court.

Filed under: Bankruptcy Information — Tags: , , , , , , , , — jmalewitz @ 10:50 pm


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