Is Filing Bankruptcy in 2024 Right for you?

 

At King & King, we understand that deciding whether or not to file for bankruptcy in Georgia is a very important decision to make. That’s why we recommend scheduling a consultation with a bankruptcy attorney who can analyze your specific facts and go over your options. If you are ready for a free consultation, call us at 404-524-6400 for help today. Here a few of the things to review when deciding to file for bankruptcy. 

What Are Your Debt Problems?

• Credit card debit

• Medical Debt

• Car or home repossession

• Foreclosure

What Happens If You Don’t Pay Your Debt?

• Your creditors can put liens against your assets

• Seize your bank accounts

• Garnish your wages

• Foreclosure

• Repossession

What Happens If You File For Bankruptcy?

• Stop all collections against you and your creditors will stop contacting you

• Relieve the legal obligation to pay back your debts

• Allow you to rebuild your credit

• Remove liens against your property

• Stop repossession

• Stop foreclosure

Call the experienced bankruptcy staff at King & King to determine whether declaring a bankruptcy case would be in your best interest. King & King will evaluate your situation and determine if Chapter 13 or Chapter 7 bankruptcy is right for you. Call our office today at 404-524-6400 to schedule a free, confidential consultation to discuss your options, or feel free to visit us at www.kingandkingattorneys.com.

Some Unexpected Benefits of Filing Bankruptcy In Georgia

If you need long-term relief from having to pay debts you can’t handle King & King can help. Bankruptcy provides both immediate and long-term relief. Filing bankruptcy in Georgia can give you immediate and long-term relief from your creditors.

Bankruptcy can often also give you some other rather amazing benefits, beyond the basic relief you expect. Here are just a few benefits of bankruptcy:

 

1. Recently Garnished By a Creditor? You may get money back.

Through “preference” law, you could get back money that was recently garnished by a creditor. 

 

2. Undo Liens on Your Home

Through judgment lien “avoidance” you can often permanently remove a judgment lien, a tremendous practical benefit.  

 

3. Reinstate Your Driver’s License from Failing to Pay Tickets

Reinstate your license if it’s been suspended for unpaid traffic infractions.

 

4. Get Back Your Just-Repossessed Vehicle

Filing bankruptcy not only prevents vehicle repossession. You may be able to get your vehicle back after it has been repossessed.  But, you must act quickly.

 

5. “Cram down” and Change the Payment Terms of Your Vehicle Loan

If your vehicle loan is more than two and a half years old, you may be able to reduce both your interest rate and the amount you have to pay back on the loan.  You can reduce the total amount to the value of the car, not the outstanding balance on the loan (often much higher).  This is called “cram down.”

 

6. Get Out of Your Vehicle Lease through Bankruptcy

Leasing is often an efficient way to have a vehicle short-term, but is actually usually the most expensive long-term. Bankruptcy can be the best way to get out of this expensive obligation.

If you are thinking about filing bankruptcy, the first thing you need to know is that you’re not alone. The compassionate and experienced bankruptcy lawyers at King & King will help you through the bad times and plan for much better times. Call us at 404-524-6400 for a free consultation today or visit our website at kingandkingattorneys.com for more information.