Tuesday, June 28, 2016

Can I Prevent Foreclosure by Filing for Bankruptcy in Georgia?

At King & King, we understand that life happens and you may have found yourself in the position of being unable to keep up with your financial obligations. Whatever got you to the point where you are now, our attorneys are committed to helping you come up with a solution keep your home. Bankruptcy protection can be an effective foreclosure defense, one that we have used to help many of our clients avoid losing their homes to foreclosure.

In a Chapter 13 bankruptcy, a repayment plan is created that gives you a way to catch up on past due mortgage payments and unpaid debt without fear that any other legal actions will be pursued. Another benefit of filing for Chapter 13 is that a second mortgage could be "stripped," and you will never have to pay it back.  Ask your King & King attorney about “Lien Stripping” if you have a second mortgage.

If you qualify for a Chapter 7 bankruptcy, we can help you keep your home and wipe out credit card debt, medical bills, and personal loans. If you’re ready to get started, call us today so that one of our experienced bankruptcy lawyers can review your current mortgage situation and advise you as to whether filing for bankruptcy may be right for you. Call King & King at 404-524-6400 or visit us at www.kingandkingattorneys.com for more info.

Thursday, June 23, 2016

Can I File for Bankruptcy More than Once in Georgia?

If your debt is out of control and you have no way to pay it off, bankruptcy can be a positive solution. King & King can help you discharge or eliminate your debts and obtain a clean financial slate.

If you have taken advantage of bankruptcy in the past, but you have found yourself in the position of needing debt relief again, you may be wondering if you are eligible to file for bankruptcy again. The answer is yes. The type of bankruptcy you filed before will have an impact on both the type of bankruptcy protection you may be eligible to seek and how long you need to wait before you can file again.

Generally, the rules for filing a second bankruptcy are as follows:
If you filed Chapter 7, you will have to wait 8 years before filing Chapter 7 again.
If you filed Chapter 7, you may file another Chapter 13, but you may not be eligible for a discharge until 4 years have passed.

Every situation is different and speaking to a qualified bankruptcy attorney should be your next step. Our attorneys will be able to review your current situation and advise you of the bankruptcy options available to you. Call King & King bankruptcy attorneys today for a free initial consultation. 404-524-6400 or visit us online at www.kingandkingattorneys.com for more information.

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