Sunday, February 21, 2016

Top Five Reasons People In Georgia File For Bankruptcy

Most people who file bankruptcy do so as a last resort. After struggling to pay the bills left over from some life-changing experience, such as a divorce, the loss of a job, or serious illness, filing bankruptcy can be the best option. There are many reasons people declare bankruptcy aside from being broke. Here are the top five reasons people in Georgia file for bankruptcy.

Bankruptcy is a very effective way for people behind on their mortgage payments to keep their homes. Chapter 13 bankruptcy can actually stop a foreclosure and allow you to get caught back up on payments you have missed. The remaining payments are structured into a manageable payment plan allowing you to repay the amount you are behind on a schedule that works for you.

Filing bankruptcy can stop a car, truck, or other automobile from being repossessed. If you file bankruptcy before your car is repossessed or quickly thereafter, it can force the creditor to either let you keep your car or return it to you. Payments that have been missed will be consolidated into a Chapter 13 Bankruptcy plan. The payments will be made to the Chapter 13 Bankruptcy trustee who will pay the finance company on your behalf and force them to work with you.

The unfortunate event of an accident or illness can cause bills to add up faster than one ever thought possible. Whether the bills are your own or those of a loved one, they can quickly take a toll on your finances. In order to get out from under the weight of medical bills, you can file for Chapter 7 or 13 Bankruptcy which will alleviate the burden of the bills significantly, or, in many cases, completely.

Most families plan on the income that they are taking in every month, and the loss of a job can easily put them in an uncomfortable financial position. It can be difficult to find a new job, and during the process it’s easy to rack up quite a bit of debt. Even when income eventually does improve, this is a difficult situation to get out of without the help of bankruptcy.

Declaring bankruptcy allows people who owe more money than they will ever reasonably be able to pay back to creditors some additional options. All types of bankruptcy filings allow for at least part, if not all, of debts to be forgiven.

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

Thursday, February 11, 2016

Can Bankruptcy Get Rid Of My Credit Card Debt in Georgia?

Thousands of people in Georgia owe credit card debt at any point in time. You are not alone. If you owe more on your credit cards than you can pay back, or if your accounts are going into collections or getting paid less often, bankruptcy may be the best option for you.

Filing for Chapter 7 bankruptcy is the first option for those who cannot pay off their credit cards.
Chapter 7 bankruptcy discharges credit card debt. It can provide you with a "fresh start" and relieve the stress of not being able to pay for what is owed. Chapter 7 bankruptcy can discharge other debt as well; discuss all debt you owe with your attorney.

Another option is Chapter 13 bankruptcy. Filing for Chapter 13 bankruptcy can help reduce your credit card debt through an affordable repayment plan. Our experienced bankruptcy lawyers will work with you to ensure all your debts are covered by your bankruptcy filing.

Contact King & King For Help Today

If you would like more information, call our office for a free consultation at 404-524-6400. We are one of Georgia’s largest consumer bankruptcy firms and would be happy to assist you. Take the first step to get you back on your financial feet. We have helped thousands of people just like you. Get a fresh start today.