Tuesday, December 23, 2014

My Bank Account Is Levied in Georgia, Will Bankruptcy Help?

In most cases, your bank account can be levied only after a judgment has been entered against you. Filing a bankruptcy petition in Georgia triggers an automatic order that stops bank levies. In other words, the bank levies must be released immediately. The order is automatic and is effective immediately upon filing the bankruptcy. If a creditor continues the bank levy after the filing of bankruptcy, the creditor must pay the money back immediately, even if, at the time of the bank levy, the creditor honestly did not know about the bankruptcy filing. If a creditor refuses to pay the money back after having notice of bankruptcy, the creditor can be sued. In some cases money that was levied before the filing of the bankruptcy can be recovered through the bankruptcy process.

Filing of a bankruptcy will discharge some or all of the debts that have caused the bank levy. Once the debt is wiped out through the bankruptcy process, the threat of a future bank levy for that debt is gone.

Under other circumstances, filing of a Chapter 13 bankruptcy will allow you to pay the debt back over time. While you are in in Chapter 13 bankruptcy protection, your creditors cannot issue a bank levy.  Your attorney will help you decide what chapter would be best for you to file.

If your bank account is being levied, contact King and King today to talk to a skilled bankruptcy attorney who can tell you exactly how the bankruptcy laws can benefit you. Call us at 404-524-6400 or visit us online at www.kingandkingattorneys.com

Monday, December 15, 2014

If I Can’t Pay My Credit Card Debt Can Bankruptcy Help?

Credit card debt is an unsecured debt, meaning that there is no collateral attached to it. Unlike a car or a home loan, credit card companies cannot repossess any of your property for lack of payment.

In Chapter 7 bankruptcy in Georgia, it is typical for credit card debt to be discharged, meaning it is wiped away and you are no longer responsible for it. For most people who file a Chapter 7 bankruptcy in Georgia, all credit card debt is wiped out and they pay nothing to the credit card companies. There are limited exceptions in which a bankruptcy court will refuse to discharge credit card debt—particularly when the credit card holder is believed to have committed fraud—but this is extremely rare.

If you are struggling with out-of-control credit card debt, don’t wait to be sued or garnished before you get help. Call King and King in Atlanta at 404-524-6400 for a free consultation or visit us online at www.kingandkingattorneys.com. We will review your options and put you on the track for financial freedom. 

Thursday, December 11, 2014

Can All My Debt Be Discharged Through Bankruptcy?

If you’re thinking about filing for bankruptcy in Georgia, then you’re most likely wondering what types of debts you will be able to discharge. Your bankruptcy discharge releases you from personal liability for certain types of debts. This means that once a debt is "discharged" through bankruptcy, you’re no longer legally required to pay those debts.

The discharge itself is a permanent order that prohibits creditors from collecting on debts, or contacting you through phone calls and letters. Most debts are dischargeable.  However, not all debts can be discharged through bankruptcy.

The most common types of non-dischargeable debts include the following:

Some tax debts (especially debts for recently-filed tax returns)
Child support
Spousal support or alimony
Debts from malicious injuries to persons or property
Government fines or penalties
Guaranteed educational loans
Government funded loans
Debts for personal injury actions involving drunk driving

While this list of non-dischargeable debts may seem like a long one, most people are eligible to discharge all of their debt, including medical debts, credit card debts, taxes over three years of age, personal loans, past repossessions, broken apartment leases, etc.  Your bankruptcy attorney will help you discharge your debts and protect your assets.

King and King can help you determine what debts you can discharge and if bankruptcy is right for you. Call us today for a free case evaluation at 404-524-6400 or visit us online at www.kingandkingattorneys.com

Monday, November 24, 2014

Will All My Debts Be Eliminated In a Chapter 7 Bankruptcy?

Chapter 7 bankruptcy can also referred to as debt elimination or debt liquidation bankruptcy because the debtor is freed from liability of all of his or her unsecured debts upon discharge of the case.

Most unsecured debts are dischargeable in a Chapter 7 bankruptcy filed in Georgia.  Income taxes and overpayments are sometimes dischargeable as well.   There are a number of debts that cannot be discharged in a bankruptcy.  Some examples of these debts include:  most student loans, government fines, and restitution. We will be happy to discuss your case with you to determine which of your debts will be eliminated, based on your unique situation.

A Chapter 7 bankruptcy is usually about a 4 month process. This allows you to wipe out all your debt at once and start rebuilding your credit right away.

Filing a Chapter 7 bankruptcy will stop the creditor calls, judgments, wage garnishments, bank levies, and enable you to get the fresh financial start you need and deserve! Stop wondering how to become debt free and find the answers you need to get there. Call King and King for a free consultation at 404-524-6400 or visit us at www.kingandkingattorneys.com for more information.

Friday, November 21, 2014

Life After Filing Bankruptcy In Georgia

There is life after bankruptcy. At King and King, we provide practical support and coaching to help you navigate the process of repairing and building your credit. If you fully embrace your bankruptcy as the “fresh start” it is, you can position yourself to begin building real financial security, protecting yourself against future financial chaos, and living life without all the stress that comes from overwhelming debt.

Believe it or not, if you follow some simple advice you can qualify for good to great interest rates within a year—saving you money on credit cards and loans—and can even qualify for a home mortgage within two years. Here are some of the ways you can restore your credit score after bankruptcy:

Paying all your bills on time. This will take careful budgeting and tracking on your part.
Obtaining a secured credit card, then charging small amounts each month and repaying as agreed.
Signing a lease on a rental home, then paying your rent on time each month.
Reviewing your credit report annually to make sure there aren't any errors.
For some clients, buying a home within two years after your bankruptcy, then paying your mortgage on time each month is an option.

It’s a common myth that just because your bankruptcy appears on your credit report for up to 10 years, you won’t be able to buy a home for 10 years.  Not true! In fact, it’s possible to qualify for a mortgage within two years after filing for bankruptcy. An FHA (Federal Housing Administration) loan, which is ideal for people coming out of bankruptcy, is often more flexible than a loan offered by traditional lenders.

With your overwhelming debt behind you, a solid budget guiding you, and the responsible use of credit helping you rebuild your credit score, life after bankruptcy can be extremely freeing and rewarding. If you’re ready to get your financial life back on track, call King and King today at 404-524-6400 for a free consultation or visit us at www.kingandkingattorneys.com 

Monday, November 17, 2014

How Does Bankruptcy In Georgia Work?

The attorneys at King and King have spent countless hours in Georgia bankruptcy courts. We know the regulations, and we know the process. There are some significant differences between filing for Chapter 7 and Chapter 13 bankruptcy but, in general, here’s what you can expect from the process of filing for bankruptcy:

The process of bankruptcy is governed by federal rules as well as local bankruptcy court rules.
For Chapters 7 and 13, you’ll be assigned a trustee. This person has various administrative responsibilities depending on the chapter you’re filing and your specific situation. We can help you understand the role that your trustee will play in your case.

While you will need to attend one meeting in court, known as the meeting of creditors, you may not have to appear in court again. Sometimes—like when an objection is raised or if a plan confirmation hearing is required—you may need to come to court, but this isn't common. Again, we will be with you every step of the way to guide you through the process.

When your debts have been discharged, you’ll be free from personal liability from specific debts. From that point on, creditors won’t be able to take any action against you in an effort to collect on those debts.

Filing for bankruptcy can work. We have helped thousands of people just like you. As one of Georgia’s premier bankruptcy lawyers, we can get your financial life back on track. Call King and King at 404-524-6400 or visit us at www.kingandkingattorneys.com for a free consultation today.

Thursday, November 13, 2014

Can Bankruptcy Help With Payday Loans in Georgia?

 Payday lenders are predatory and for most people they have to take out another loan as soon as they have paid off the previous loan. Filing bankruptcy can eliminate payday loans quickly and completely.

Payday loans (aka cash advance loans or check advance loans) are a horrible trap to fall into. The interest rate they charge you is outrageous. Payday loan companies prey on people who have fallen on tough times. King and King can help you stop the payday loans from collecting against you.

If you file bankruptcy– either Chapter 7 or Chapter 13– the whole problem goes away. In fact, for most people, most all of your debts will go away.

We can help you take back control of your life, get peace of mind and reduce your stress. You have rights and protection under the law. Call our office for a free initial meeting to discuss your case at 404-524-6400 or visit us at www.kingandkingattorneys.com 

Monday, October 27, 2014

Bankruptcy Can Protect Your Assets

Bankruptcy is helpful; its goal is to provide those who file with a fresh financial start, not to take everything in the process. That’s why Georgia has specific bankruptcy laws to help protect a consumer’s assets during the bankruptcy process. The attorneys at King and King can help you protect your assets and emerge from bankruptcy with many or even all of your assets intact.

Georgia Bankruptcy Exemptions

Georgia allows you to choose either state or federal bankruptcy exemptions depending on your filing status. Our experienced bankruptcy attorneys will help you determine which property and assets you may be able to claim and maximize your exemptions. Your qualified exemptions may include property such as:

·         Real Estate
·         Personal property (including household goods, clothing, vehicles, and more)
·         Wages, pension, and public benefits
·         Trade tools

Regardless of whether you are filing for Chapter 7 or Chapter 13 bankruptcy, bankruptcy laws entitle you to certain exemptions. We will work together to ensure accuracy in your bankruptcy forms as we offer you valuable legal advice and handle all complex issues, including assisting you with your bankruptcy exemptions.

Protecting Your Assets During Bankruptcy
In a Chapter 7 bankruptcy non-exempt assets may be sold and used to pay debt. However, most of our clients filing for Chapter 7 bankruptcy lose little or nothing throughout the process.
Filing Chapter 13 bankruptcy, may stop a foreclosure or repossession and allow you to catch up on missed payments, it also creates a repayment plan for other debts. Most clients who file Chapter 13 bankruptcy keep all of their property.

Every case is unique. Seeking legal advice in order to get the most accurate answers to your questions about bankruptcy is the first step. If your ready to learn more about how we can help you protect your personal property, or if you’d like to find out what you can keep during bankruptcy, contact King and King today for a free initial consultation 404-524-6400 or www.kingandkingattorneys.com

Wednesday, October 22, 2014

What Should You Expect From A Free Bankruptcy Consultation?

If you find yourself in a difficult financial situation in Georgia, and are looking for bankruptcy information, contact the bankruptcy attorneys at King and King with three offices in the Atlanta area for a no-cost, no-obligation evaluation. We’ll take the time to talk with you, look closely at your situation, and give you informed legal advice about the steps you can take to get back on track.

Your Bankruptcy Questions Answered

Whether or not to file bankruptcy is a question that should not be decided in a hurry. We know you have a lot of questions about the bankruptcy process—and in some cases you may not even know what questions you should be asking. Fortunately, our bankruptcy attorneys will give you all the bankruptcy information you need. Some of the most common questions are:

What are the benefits and risks of bankruptcy?
Which type of bankruptcy should I file?
How can I protect my family?
How long does it take to file bankruptcy?
Do I really need a bankruptcy attorney?
What are the specifics of Georgia’s bankruptcy laws?
How will filing bankruptcy affect my credit score?

Our goal is to make sure you have all the bankruptcy information you need to make an informed decision about whether or not to file bankruptcy.

Don’t let the uncertainty and worry of serious debt control your life any longer. Contact the bankruptcy attorneys of King and King today at 404-524-6400 or visit us online at www.kingandkingattorneys.com

Monday, October 20, 2014

What Are The Advantages Of Chapter 7 Bankruptcy?

Chapter 7 bankruptcy is usually the fastest, least expensive form of bankruptcy.   It comes with many advantages.

Advantages Of Chapter 7 Bankruptcy

  • Chapter 7 bankruptcy in Georgia stops garnishments immediately.
  • Payments to your creditors stop.
  • Harassment from creditors stops as soon as you file.
  • In most cases, you can keep your car and your home.

Chapter 7 bankruptcy covers credit cards, medical bills, payday loans, personal loans, lines of credit, car loans, mortgages, and most other debt. Chapter 7 also removes debts to utility companies.

For most of our clients, filing a Chapter 7 bankruptcy puts them on the road to financial freedom. You do not have to commit to a repayment plan or repay a single unsecured creditor.  If Chapter 7 will not work for you, then we may be able to help you file a Chapter 13 bankruptcy.  Contact us so we can help you better understand the process and which chapter is right for you.

Filing your chapter 7 bankruptcy with King and King can be quick and simple.

Call King and King today at 404-524-6400 for a free consultation. We will review your situation and schedule a meeting to get started. Don’t wait: you could be debt free in as little as three to four months. Visit www.kingandkingattorneys.com for more information.

Monday, September 22, 2014

King and King Can Stop Your Creditors From Calling

Financial problems cause enough anxiety as it is. The last thing you need is harassing phone calls and threatening notices demanding payment. Filing for bankruptcy stops the harassing calls from debt collectors by order of an “automatic stay.” This gives you legal protection and stops the harassing phone calls.

The first thing to do is to consult with one of the attorneys at King and King to decide if filing is the right decision for you.  If so, once you file a petition in bankruptcy seeking Chapter 7 or Chapter 13 relief, the Court will order an “automatic stay.” This order means that all your creditors must stop contacting you immediately. If a creditor continues to call you after your case is filed, they are in violation of the automatic stay, which imposes stiff penalties.  Let us know and we will contact your creditor if necessary. Here are a few things creditors are never allowed to do.

  • Harass you by calling in the middle of the night or by calling you over and over.
  •  Call your place of work after you have instructed them not to.
  • Use obscene or abusive language.
  • Pretend to be an attorney, police officer or government official.
  • Say that you have committed a crime by not paying a debt.
  • Contact or threaten to contact a neighbor, relative or employer about your debt.
  • Say that you will be arrested or put in prison.
  •  Use threats of harm to you or your family.

Help is Just a Phone Call Away

When you are faced with a difficult financial situation, you need help. King and King can stop the harassing phone calls and put you on the path to financial freedom. Call us today at 404-524-6400 to discuss your options, your consultation is free, or visit us at www.kingandkingattorneys.com for more information.

Tuesday, September 16, 2014

Can Home Foreclosure in Georgia Be Stopped?

If you are facing foreclosure in Georgia, Bankruptcy is an option to prevent your home from being foreclosed upon. Filing for bankruptcy stops the foreclosure on your home by an “automatic stay” which will also stop most collection efforts against you. The taxing authority, a homeowners association, or your mortgage lender must cease their foreclosure actions immediately. Then you will have some time to decide what to do.

Filing a Chapter 13 Bankruptcy will stop foreclosure and can allow you to repay your past due payments over 3 to 5 years. Chapter 13 is a debt relief option that can not only stop foreclosure and allow you to save your home, but can also allow you to keep your other property while repaying your debts or in many cases reducing them drastically. Stopping foreclosure is a main reason people file for Chapter 13 bankruptcy. So, if you are eligible, Chapter 13 can stop foreclosure on your home.

If your lender is threatening foreclosure or has initiated foreclosure proceedings, contact King and King right away. You cannot save your home once the foreclosure sale is complete.  Unless you've recently filed a previous bankruptcy case, Chapter 13 will most always stop the foreclosure. If you’re like most people in Georgia, your home is your biggest investment. So when you are facing a foreclosure and the prospect of losing your home, you risk losing your biggest investment. Don’t wait until the day before the foreclosure sale to do something or it may be too late.

At King and King we have been helping people throughout Georgia stop foreclosure with Chapter 13 Bankruptcy, and we may be able to help you. Call us today for a free consultation at 404-524-6400 or visit us at www.kingandkingattorneys.com for more information.

Thursday, August 28, 2014

How Can I Stop My Wage Garnishment?

When your creditors are unable to collect payment of old debts through harassing collection calls and threatening letters, their next step may be a civil lawsuit, or wage garnishment. Difficult times due to a job layoff, divorce, or personal injury can happen to anyone in Georgia. You are not alone. We understand that you did not choose to be in this situation. We are here to help.

If you are unable to pay your bills now and know you will not be able to do so in the future, bankruptcy may be the key to a strong financial future.

Bankruptcy stops most garnishments dead in their tracks.  We may even be able to recover funds garnished up to 90 days before you filed your case.

If your wages are being garnished or you think garnishment is a possibility, then consider getting a fresh start in bankruptcy. Call King and King Bankruptcy Attorneys today at 404-524-6400 for a free consultation or visit us at www.kingandkingattorneys.com for more information.

Tuesday, August 12, 2014

Can Bankruptcy Save My Car From Repossession?

We know having a car is essential for most people to get to work and earn a living. The good news is filing for bankruptcy will immediately stop an auto lender from repossessing your car.

There are two courses of action that are successful for most King and King clients to not only stop repossession but to also lower car payments. One option is to use a redemption loan in a Chapter 7.  A redemption loan allows you to pay back only the market value of your vehicle, which for many people is much less than what they currently owe on their car loans.  A second option is to file a Chapter 13 and “cram down” your loan: many people can lower both the interest rate (to as low as around 4%) and also only pay back the market value of the vehicle.  This can result in a tremendous savings.

Fortunately, there are several options that can enable you to avoid repossession and keep your vehicle while still obtaining debt relief.

King and King Bankruptcy attorneys can stop repossession immediately and take the actions needed to help you get debt relief. Call 404-524-6400 for a free consultation or visit us at www.kingandkingattorneys.com for more information.

Friday, July 25, 2014

What Happens To Credit Cards In Bankruptcy?

Credit card debt is one of the most common debts Americans have, and most of our clients want to know what will happen to their credit cards in bankruptcy. Most importantly, credit card debt can be discharged in bankruptcy.  Credit card debt is an unsecured debt and unsecured debt has the lowest priority in a personal bankruptcy. Credit card debt is almost always dischargeable in bankruptcy.

It is important to know you can’t leave any credit cards out of your bankruptcy. Bankruptcy is an all in process: all debts need to be listed on your petition.  If you've been using your credit cards close to the time when you file for bankruptcy it may be difficult to discharge that debt, especially if you made a luxury purchase. Tell your bankruptcy lawyer about your recent credit card usage.  Your lawyer can formulate strategies for filing your bankruptcy and getting all of your debts discharged.

Filing for bankruptcy in Georgia will give you federal protection against creditor harassment, wage garnishments, foreclosure, and repossession. If you file a Chapter 13 bankruptcy, credit card companies are also required to accept the terms of your new repayment plan (most cases filed pay 0% to their unsecured creditors).  If you’re ready for a fresh start, call King and King Attorneys in Atlanta today at 404-524-6400 or visit us at www.kingandkingattorneys.com for more information.

Friday, June 20, 2014

Will I Be Approved For Bankruptcy?

So many people are burdened by medical debts, credit card balances, car loans and other debts.  It can be overwhelming, and stressful.  However, there is help.  If you are unable to pay back your debts, you are most likely eligible for bankruptcy.

King and King Bankruptcy Attorneys
Our experienced, professional bankruptcy attorneys understand the situation you face.  We know your best options.  We are here to help and will work with you to improve your financial future.  Even before your bankruptcy petition is filed, our attorneys can help shield you from creditor harassment.

In a non-judgmental and supportive way, we will help you understand your options, the process of filing for bankruptcy, and help lift the burden of financial uncertainty.  After bankruptcy you can expect:

· Peace of mind

· Renewed confidence

· Resolution

· A fresh start

· A promising future

Free Consultations

Contact our office today to schedule your free consultation.  With offices in downtown Atlanta, Marietta, and Lawrenceville, we are able to easily accommodate our clients living anywhere throughout the Atlanta metro area.  Give us a call at (404) 524-6400 or visit us at www.kingandkingattorneys.com for more information.

Thursday, June 5, 2014

What Assets Should You Disclose In Your Georgia Bankruptcy Case?

All assets, no matter their value, must be disclosed in a bankruptcy case. If you happen to forget to list an asset for one reason or another, your bankruptcy petition can be amended to add the assets that should have been listed. Listing all your assets is the best way to avoid any issues in your bankruptcy case and will allow you to receive a quick bankruptcy discharge and allow for that bankruptcy discharge to be permanent.

Here are a few things to think about when listing your assets:

  • Are you owed a state or federal tax refund?
  • If someone sells a piece of property are you entitled to a share of the profits?
  • Does someone owe you money?
  • Are you the silent partner in a business?
  • Do you co-own property with someone besides your spouse?
  • Could you file a lawsuit against someone?
  • Are you entitled to any unclaimed government benefits?
  • Do you have a lawsuit pending against any entity?

Every bankruptcy case is different. If you have questions about what you will need to disclose in your bankruptcy case, call us at 404-524-6400 for a free consultation, or visit us online at www.kingandkingattorneys.com for more information. 

Tuesday, May 20, 2014

How Can I File Bankruptcy in Georgia with Limited Money?

One of the advantages of a Chapter 13 bankruptcy is that usually all of your attorney fees are paid through your plan.  In a Chapter 13 filing, the U.S. Bankruptcy Court inGeorgia sets the amount that an attorney can charge for Chapter 13 legal services.  In almost all cases, attorney’s fees are be paid out of the monthly payment plans, requiring no money down for attorney’s fees.

Beyond attorney fees, you will also have to pay the Bankruptcy Court a filing fee.  In most instances, the Chapter 13 filing fee can be paid in installments, making it easier for filers to afford.

Chapter 13 bankruptcy is about creating an affordable payment plan.  Not only do you not have to pay your creditors back in full, your payment plan is set up to pay what you can afford.  King and King has the experience in Chapter 13 bankruptcy law to successfully guide you through the process and get you back in control of your finances.

Call us for a free consultation today at 404-524-6400 or visit us at www.kingandkingattorneys.com for more information.

Monday, May 5, 2014

Should I Represent Myself When Filing For Bankruptcy In Georgia?

Although you can file for bankruptcy on your own, consulting a bankruptcy attorney is a beneficial first step for the vast majority of individuals.

Should you choose to represent yourself, you will be expected to understand and abide by bankruptcy law - which can prove very complex if you do not have any legal background. Often, filing bankruptcy involves much more than simply filing. You may be required to negotiate repayment terms, interact with creditors, or defend yourself against challenges that are brought to court - and creditors will bring their attorneys.

If you’re considering filing for bankruptcy and thinking about representing yourself, call King and King first for a free consultation. 404-524-6400 or www.kingandkingattorneys.com.

Tuesday, April 22, 2014

Will Filing Bankruptcy Make Employment Difficult?

A common concern of our clients is whether bankruptcy filings are private or public, and about the effect of bankruptcy on their current job or their ability to get a job. The most important thing to know is it’s illegal for any employer to discriminate against you because you file for bankruptcy.

In short, bankruptcy will not affect your ability to obtain or keep a job or get a promotion. Bankruptcy is a protected, fundamental right granted by the U.S. Congress to all Americans. Under federal bankruptcy law, employers are prohibited from discriminating against a worker because of a bankruptcy filing.
The bottom line is: it’s a violation of the law to refuse to hire or fail to promote an employee solely on the basis of a bankruptcy filing.

Ready to speak to us about taking the next step? Call King and King for a free consultation at 404-524-6400 or read more at www.kingandkingattorneys.com.

Wednesday, April 9, 2014

Should I Consider Bankruptcy As An Option?

If you are behind on your bills, facing foreclosure, repossession or other financial difficulties in Georgia, bankruptcy can be a possible solution to your situation.

Bankruptcy might provide you with the right solution if:

  • You are facing foreclosure on your home
  • Your car or other property is in danger of being repossessed
  • You are having trouble making credit card payments
  • You lost your job
  • You have incurred large medical bills
  • You are receiving harassing calls from creditors
  • Your wages are being garnished

Whether you want to learn more about the bankruptcy process or you are ready to take the next step, our lawyers can help. They’ll meet with you at no charge for an initial consultation, and then recommend the best course of action. King and King is sympathetic to your problems, and we know how to help you solve them. Call us at 404-524-6400 or visit us online at www.kingandkingattorneys.com.

Thursday, April 3, 2014

Will Chapter 7 Bankruptcy Get Rid Of My Debt?

Chapter 7 Bankruptcy is the most common form of filing in the state of Georgia. Chapter 7 is frequently referred to as a "fresh start." It is relatively quick and allows you to discharge your debt to allow you to start again with a clean slate. 

Chapter 7 Bankruptcy cases can remove debts for the following:

· Credit Card Debts

· Medical Bills

· Lawsuits for injuries caused while driving uninsured

· Debts following evictions and/or repossessions

· Lawsuits for breach of contract

· Small or moderate NSF checks

· Garnishments

· Most business debts

Chapter 7 bankruptcy may not discharge some of the following debts; your attorney will help you to understand where you stand.

· Child Support

· Student Loans

· Some Criminal Fines

· Some Taxes

· Debts incurred fraudulently

When your bankruptcy is accepted by the court, your dischargeable debts are wiped clean and you are awarded a clean slate to start anew. Call King and King at 404-524-6400 for a free consultation today or visit us online at www.kingandkingattorneys.com.

Thursday, March 27, 2014

Do I Qualify For Bankruptcy in Georgia?

Chapter 7 bankruptcy wipes out most, if not all of your debt, leaving you with a clean slate.  In order to qualify for chapter 7 bankruptcy, you must pass a "means test."  The test analyzes your income over the previous six calendar months and projects an annual income. The means test is very tricky; talk to an experienced bankruptcy attorney to find out if you qualify.  

Chapter 13 bankruptcy allows you to pay back your debt over time. In order to qualify for a Chapter 13 bankruptcy, you will need to meet two general income requirements. First, you must have a regular source of income. Second, you must have sufficient disposable income. Basically you must have at some income left over to pay to creditors after you subtract your living expenses from your monthly income. Chapter 13 bankruptcy often provides much greater protection to debtors who own significant assets or have income that would not be exempt in a Chapter 7. Most people filing for Chapter 13 bankruptcy are trying to protect a secured debt from being foreclosed or repossessed, such as a home or a car.

King and King will evaluate your situation and determine if Chapter 13 or Chapter 7 bankruptcy is right for you. Call our office today at 404-524-6400 for a free, confidential consultation to discuss your options or visit us at www.kingandkingattorneys.com.

Friday, March 7, 2014

Should I Try To Pay A Creditor Before I File Bankruptcy?

While attempting to pay a creditor before you file bankruptcy may sound like a good idea, if you pay a creditor more than you are paying your other creditors, then that “favored” creditor may be required to give back that extra money so that it is shared among all the creditors.

The bankruptcy court will look at your debts and your rate of repayment. So it’s possible the creditor you were trying to keep out of your bankruptcy case may have to get involved. He or she may be asked by the court to return the money you paid for redistribution.  Payments to favored creditors become an issue when they are discovered after your bankruptcy is filed, so be sure to disclose all creditors to your bankruptcy attorney.

If you will need to file a bankruptcy, before you pay anything to a relative or any other kind of creditor, schedule a free consultation with a King and King experienced bankruptcy attorney. Call us at 404-524-6400 or visit us online at www.kingandkingattorneys.com.

Tuesday, February 25, 2014

Am I Eligible For Chapter 7 or Chapter 13 Bankruptcy?

At King and King, we understand that most clients have never thought about bankruptcy proceedings before. We are here to explain the processes to you, not in legalese, but in terms you can understand. When you meet with your attorney, you will discuss in greater length which chapter of bankruptcy you should file.

Filing under Chapter 7 entails a liquidation of assets, with certain exemptions, in order to discharge debts such as loans, credit cards and medical bills. A Chapter 7 case is ideal for those who qualify and who are not in need of debt reorganization.

Filing under Chapter 13 is a form of debt consolidation over a longer period of time, while protecting you from any debt collection efforts by creditors. For those who desire to reorganize debt such as a mortgage or auto loan, or who do not qualify for Chapter 7, a Chapter 13 can be an efficient means of repaying debt over 36 or 60 months.

For more information on the different bankruptcy chapters, please feel free to contact King and King for a free consultation at 404-524-6400 or visit us at www.kingandkingattorneys.com

Thursday, February 20, 2014

Can I get Fired For Filing Bankruptcy?

The Bankruptcy Code is clear on this question: "No private employer may terminate the employment of, or discriminate with respect to employment against, an individual who is or has been a debtor under this title, a debtor or bankrupt under the Bankruptcy Act, or an individual associated with such debtor.”

There you have it: employers are prohibited by federal law from discriminating against you for filing bankruptcy.  Filing bankruptcy can be a stressful experience; however, filing for bankruptcy has absolutely no bearing on a person’s job performance or capabilities.

The decision to file bankruptcy is an important one.  Our role at King and King is to guide you through the process, help you understand it, and represent you against your creditors.  We will be with you every step of the way to make sure that your questions are answered.  To learn more, schedule your free, confidential bankruptcy consultation by calling 404-524-6400 or visit us at www.kingandkingattorneys.com

Tuesday, February 18, 2014

Will I Need To Go Through Credit Counseling When I File Bankruptcy?

Since October 17, 2005, all consumer bankruptcy filers in Georgia have to complete and obtain a certificate from a state approved credit counselor before a bankruptcy case can be filed. Your credit counseling course is completed online right from our office to keep things simple.

Once your intake meeting has taken place and the contract is signed, the next step is to complete your consumer credit counseling.  It is a quick and easy process.  After your course is complete, we will start your Chapter 7 or Chapter 13 bankruptcy filing.

When you first start to plan filing for bankruptcy, it is important to find the right attorney. King and King offers free consultations to all prospective Georgia bankruptcy clients, so there is no risk in learning what options you have to control your debt. Visit us online at www.kingandkingattorneys.com or call 404-524-6400.

Monday, January 13, 2014

How Will Bankruptcy in Georgia Affect My Future Finances?

After your bankruptcy you have a fresh start. Your credit rating, which for most people who are filing bankruptcy was already low, will start to improve.

When you file for Chapter 7 or Chapter 13 bankruptcy your credit actually improves. Your creditors can no longer pursue you. A large part of your debt will most likely be discharged. In a Chapter 13 bankruptcy, you will have time to work toward repaying your debt (usually just secured debt like mortgage arrears or a car payment). If you file Chapter 7, you will be ineligible to file another Chapter 7 for eight years.  These facts mean that you become less of a loan default risk than you were before your bankruptcy filing.

Generally, the more time that has elapsed since your bankruptcy discharge and the faster you establish a positive payment history, the quicker your credit score will improve.

Questions about rebuilding your credit? Call the bankruptcy attorneys at King and King for a free consultation. From establishing credit to obtaining a home loan after bankruptcy, they can answer your questions.  Call us at 404-524-6400 or visit www.kingandkingattorneys.com

Will Filing Bankruptcy in Georgia Stop My Creditors From Harassing Me?

When you are behind on credit card payments, medical bills, your mortgage or other bills, creditor phone calls become a daily aggravation. The good news is: filing for bankruptcy immediately stops creditors from all collections, lawsuits, garnishments and all other legal action or from even contacting you!  King and King can help.

When your bankruptcy is filed, an “automatic stay” is put into place by the court. The automatic stay provides immediate protection from creditors. It stops the calls and also helps in the following ways:

  • Stops Car Repossession
  • Stops Home Foreclosure
  • Stops Lawsuits
  • Stops Garnishment
  • Stops Creditor Harassment

If you are looking for relief from harassing calls and letters from your creditors, we are here to help. We serve clients in Atlanta and throughout the state of Georgia. To schedule a free consultation, call King and King bankruptcy attorneys at 404-524-6400 or visit us at www.kingandkingattorneys.com

Can Bankruptcy Help With My Medical Bills?

Car accidents, ongoing illness, and medical conditions are situations that people are facing every day, and they aren’t really things that we can control. We understand your health and the health of your loved ones is a main priority. However, what do you do when you face the tough situation of getting medical bills every month that you can’t pay for? What happens when years later the bills are weighing you down and you can’t keep up?

The good news is, medical debt is very easily discharged in bankruptcy. It is also one of the most common reasons people file bankruptcy. If you are not current on installment payments, an insurance claim is pending or you are being garnished, medical debt collection stops as soon as you file your case.

Bankruptcy due to medical issues can become more of a necessity than an option. What kind of bankruptcy should you file for? How does bankruptcy work?
King and King can answer your questions during your free consultation. Call us at 404-524-6400 or visit us at www.kingandkingattorneys.com for more information.

Wednesday, January 8, 2014

What Are Some Common Bankruptcy Exemptions?

King and King bankruptcy attorneys in Atlanta will use Georgia state law to protect your personal property. Listed below are some of the most common types of exemptions that our bankruptcy attorneys will use to help you keep your personal possessions.

Our attorneys want you to consider these exemptions as you're contemplating whether or not to file Chapter 7 or Chapter 13. Our bankruptcy attorneys will provide you with a consultation to explain how each could or could not apply to your particular case. In addition, our bankruptcy attorneys may also be able to use other bankruptcy exemptions that do not appear on this list.

Motor Vehicle Exemption -- Your bankruptcy attorneys will use this exemption to protect motor vehicles listed in your bankruptcy.

Home Exemption -- This exemption can be used to protect the equity in your home and its improvements, your land, and/or your mobile home.

Household Goods Exemption -- This exemption allows your bankruptcy lawyers to protect your interest in your valued household goods, appliances, furniture, and home and yard equipment.

Life Insurance Proceeds Exemption -- This exemption can be used to protect a payment under a life insurance contract that insured the life of an individual of whom you were a dependent, to the extent reasonably necessary for your support or the support of your dependent(s).

Retirement Plan Exemption -- Your lawyers can prevent creditors from touching the proceeds of your hard-earned retirement plan.

Professional Tools of the Trade -- This is a useful exemption that can be used to protect the tools you use in your profession.

Wildcard Exemption -- The "wildcard" exemption permits you to protect your property not covered by any of the other exemptions.

These are just a few of the exemptions that will put you back in the black after your bankruptcy. Call the experienced lawyers of King and King today for a free consultation. 404-524-6400 or visit www.kingandkingattorneys.com