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
