Georgia and Atlanta Bankruptcy: Immediate Debt Relief
Georgia Bankruptcy can provide immediate dept relief, and there are two different types of situations that people generally find themselves in what warrant filing a petition for bankruptcy. The first one involves excessive credit card or other unsecured debt that has been incurred by people who do not own their own homes or possess any other significant tangible assets.
When you have this type of debt and you are unable to pay it, you invariably start to receive rude and aggressive collection calls at home, on your cell phone, and even at work. Many creditors will go so far as to call your family and friends. In this type of situation, Georgia bankruptcy lawyers will recommend a Chapter 7 bankruptcy. When you file for Chapter 7 bankruptcy in Georgia, your creditors are required to discontinue their collection attempts immediately. The may only contact your attorneys.
When your Chapter 7 filing becomes final, your debt will be wiped away and you will receive no more bills. There are some types of debt that don’t qualify under Georgia Chapter 7 bankruptcy laws, like child support, student loans, and some tax debt. Other than that, the slate is wiped clean and you get complete debt relief. You can even keep some financed property (like your car) if your payments are current and those creditors agree to “reaffirm” your agreement.
Chapter 13 bankruptcy in Atlanta and Georgia provides immediate debt relief for people who are facing vehicle repossession and/or foreclosure. While Chapter 7 bankruptcy “discharges” or eliminates debt, Chapter 13 bankruptcy is a “reorganization.” This means that when your Georgia or Atlanta bankruptcy attorneys file for Chapter 13 bankruptcy in your behalf, your past due debt will be negotiated down into a manageable range, but you will have to pay it back. In many cases you will be required to pay just pennies on the dollar over a three to five year period on those past due balances. With Chapter 13 bankruptcy, you get immediate debt relief. It stops repossessions, foreclosures, collection calls, lawsuits that target personal property, and even garnishments on your wages.
A good Georgia and Atlanta bankruptcy lawyer will sit down with you, analyze the nature of your debt and the value of any assets that you have, and proceed accordingly. Georgia and Atlanta bankruptcy laws are on the the books to provide recourse to those of us who have met with financial difficulty. Fortunately, these consumer protection statutes do indeed give bankruptcy lawyers in Georgia the leverage that they need to obtain immediate debt relief for their clients.
If you are considering a Chapter 7 or Chapter 13 filing, call the bankruptcy specialists at Law Firm at (404) 763-3623 or simply contact them through the website. Your initial consultation is free, and when you retain the Law Firm, the debt relief is immediate.
- Stop Harassment
- Stop Repossessions
- Stop Foreclosures
- Keep Your Home
- Keep Your Car
- Keep Your Wages
