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:
· 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