Tuesday, May 28, 2019

How Does Wage Garnishment Happen In Georgia?

Dealing with debt can be one of the hardest things one has to face. While you have been saving to ensure you pay your bills on time, you might find that your wages are suddenly being garnished.

How Does Wage Garnishment Work?
Your creditor can get access to your wages or bank account to get a debt paid after a lawsuit has been filed and the court enters a judgment against you. Many times, people do not even know that they have had a judgment entered against them. The creditor can request the court to issue a turnover order to any entity that has control over any money owed to you (usually an employer or a bank).

There is a limit to how much a creditor is allowed to garnish from your wages, usually up to 25% of the employee’s disposable earnings. But in cases where your income and bills are around the same amount, the slightest deficit can make a huge difference. You may not be left with enough money to pay other bills like your mortgage, car payments, or utilities. Garnishment continues until the debt is paid in full with interest. It is a devastating way to have to repay a debt.

How Can Filing Bankruptcy Stop Wage Garnishment?
Filing for bankruptcy is one of the best ways to put an end to wage garnishment. When you file for bankruptcy, an automatic stay goes into effect as soon as you case is filed. This will prevent creditors from collecting money from your bank account and will stop a garnishment from coming out of your paycheck. They will not be allowed to call or contact you in any way. Bankruptcy renders the creditors zero power over your wages.

If you have received any sort of notification that a creditor plans to garnish your wages, immediately filing for bankruptcy can stop your money from being taken away.
At the law offices of King & King, we are ready to help protect you from wage garnishment, and help you get the fresh start you need. If you are concerned about your wages being garnished, talk to one of our bankruptcy lawyers by scheduling a free consultation at 404-524-6400.

Thursday, May 23, 2019

How Are Unsecured Debts Treated in Georgia Chapter 7 Bankruptcy?

In straightforward Chapter 7 bankruptcy cases, most regular unsecured debts are discharged—permanently written off. You pay nothing on them.

In a successfully completed Chapter 7 case, “general unsecured” debts are discharged. An example might be you have $80,000 in a combination of credit cards, medical bills, and personal loans.
As long as there is no collateral tied to any of those debts, they are most likely “general unsecured” debts and will be discharged.

  • Credit cards
  • Medical bills
  • Personal loans without collateral
  • Broken apartment leases/voluntary repossessions

These are all unsecured debts that can be discharged. If you have secured debt such as:

  • Home mortgages
  • Car loans
  • Personal loans with collateral
  • Real estate tax liens

Chapter 13 may be right for you. Your attorney will review your situation and help you decide which is the best bankruptcy to file.

Whether you’re deep in debt or struggling to stay up with bills, there’s a solution to your financial situation. King & King has over 40 years of experience and will help you get a fresh start. Please call us for a free initial consultation at 404-524-6400 or visit us online at www.kingandkingattorneys.com.

Monday, May 20, 2019

Can I Stop Repossession If I File Bankruptcy in Georgia?

If you are struggling with debt and unable to make payments, your creditor may try to repossess your car. There are things you can do to stop car repossession. The bankruptcy attorneys at King & King can explain your options and help you keep your car.

Can Bankruptcy Stop Repossession?
Yes. When you file bankruptcy, your creditors cannot repossess your car provided you agree to make payments. By filing Chapter 13 bankruptcy, your debt will be reorganized and reduced, and you will have the chance to repay that debt over a period of time.

Bankruptcy can also stop:
Wage garnishment
Lawsuits by creditors
Other collection actions

My Car Has Been Repossessed. Can I Get It Back?
In most instances, if your car has been repossessed by a creditor, but has not yet been sold, you can get it back by filing Chapter 13 bankruptcy, but you must act quickly. Usually, creditors will hold the car for 10 days. If bankruptcy is filed before the creditor has resold the car, you should be able to get it back.

If you’re behind on your payments, contact the bankruptcy team at King & King to learn about your options. Facing repossession and other collection tactics can be frightening, but with the power of the bankruptcy code on your side, it doesn’t need to be. By choosing an experienced bankruptcy law firm, you can protect your valued property and stop debt collectors in their tracks. Call King & King today for a free consultation at 404-524-6400 or visit us online at www.kingandkingattorneys.com

Monday, May 13, 2019

Can Filing Chapter 13 Bankruptcy in Georgia Help You Keep Your House?

The risk of foreclosure can bring a lot of anxiety, and you could be contemplating bankruptcy as an option to help you get out from under your debt. As a homeowner, if you fall three or more months behind on your mortgage payments, your mortgage company may begin the foreclosure process. Once this happens, your mortgage company may stop accepting payments until you pay the full past due amount, usually called the loan reinstatement amount. As this amount can also include any interest, penalties, and legal fees, the amount you owe can climb quickly and it may be too much to pay. If this is your experience, bankruptcy may be the solution you are looking for.

What is the Automatic Stay in Chapter 13 Bankruptcy?
Filing a Chapter 13 bankruptcy will grant you protection from your creditors. This is called the Automatic Stay of bankruptcy. This protection is powerful enough to stop creditor action, including a foreclosure. Once your attorney files your Chapter 13 case, you will set up a payment plan which allows you to pay back your past due mortgage payments over a three-to-five-year period. You will not have to pay the full loan reinstatement amount at one time.

If your home is at risk of foreclosure, call the bankruptcy lawyers at King & King for a free consultation. We can help you file for bankruptcy relief, and ensure that the creditor calls and collection letters stop immediately so you can get the peace of mind you need and deserve. Call us today at 404-524-6400 or visit us at www.kingandkingattorneys.com