Friday, January 18, 2013

How Much Can It Cost To File Bankruptcy?

How Much Can It Cost To File Bankruptcy?
King and King Bankruptcy Attorneys, Atlanta, Georgia 1/17/2013

Most people would like to see a dollar amount to answer this question.  However, the cost of filing bankruptcy can vary depending on your financial circumstances, whether you need to file a Chapter 13 or Chapter 7, and the experience of your attorney.

 A Chapter 13 is a reorganization of your debt and a repayment plan bankruptcy. You must have income coming in every month to be able to support a Chapter 13 bankruptcypayment. It is a very detailed and complex bankruptcy and one we suggest that you do not file without an attorney. Chapter 13 bankruptcy may require you to pay a certain amount to your unsecured creditors over the course of your plan. You may be able to eliminate all of your unsecured debt and just pay back your secured debt, a great benefit that many of our clients are able to take advantage of.  You should schedule a consultation with an attorney to get more details and make sure that Chapter 7 bankruptcy (where all of your debt may be discharged) isn't an option.

Chapter 7 bankruptcy can clear most debts in a shorter amount of time.  Once you file Chapter 7, the creditors stop harassing you and debt payments stop.  Most if not all of your property can be protected in a Chapter 7, and you can stop lawsuits and garnishments against you. 
The cost of Chapter 7 or Chapter 13 bankruptcy depends on the case.  Call King and King Bankruptcy attorneys today at 404-524-6400 for a free consultation.  After your consultation, we will be able to offer you a quote for your case. 

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