Bankruptcy can be an excellent way to get a fresh start and
a brighter financial future. If your debt is holding you back from pursuing
your dreams or even just living a normal, stress-free life, you may want to consider
filing for bankruptcy in 2017.
Here are some things to consider as you make your decision.
What Debts Worry You
The Most?
Bankruptcy is effective on most types of debts. Before you
file, you will want to discover if you can find debt relief with chapter 7 or
chapter 13 bankruptcy.
If you are primarily burdened by credit card debt, medical
debt, or other types of unsecured debt, Chapter 7 provides an excellent option
for completely eliminating your debt. Another perk is as soon as your attorney files
your case, the debt collectors will have to stop contacting you and instead go
through your attorney.
If you are more worried about secured debts such as your
mortgage or car payment, Chapter 13 can help. Chapter 13 can bundle these
payments together with any unsecured debts you may have, allowing you to make
one single payment per month as part of a 3 to 5 year court-approved repayment
program. At the end of the program you will have the rest of your unsecured
debts cleared and still get to keep the majority, if not all of, your property. In many of these cases, you pay 0% of the
debt owed to unsecured creditors, and they are wiped out, just like in a
Chapter 7.
If you have student loan debt, back alimony, child support,
or back taxes less than 3 years old, contact King & King to see if
bankruptcy is right for you.
King & King has been helping people in Georgia for almost
40 years. If you are ready to take back your financial future, call us today
for a free consultation at 404-524-6400 or visit us at www.kingandkingattorneys.com for
more information.
