Thinking about bankruptcy? The bankruptcy lawyers at King and King LLC in Atlanta, Georgia can help. Call 404-524-6400 for a free bankruptcy consultation.
King & King can help you become debt free in 2025. 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
Bankruptcy can wipe clean your unsecured debt. Here are examples
of two types of debt, secured debt which include mortgages and auto loans and unsecured,
meaning there is no collateral associated with it. Credit card debt is the most
common type of unsecured debt. King
& King can help you get rid of your credit card debt and get a fresh start.
If you qualify for Chapter 7 bankruptcy, you can expect your
credit card debt to be eliminated. If you do not qualify for Chapter 7 relief, you
have the option to file for chapter 13 bankruptcy. Chapter 13 may be
appropriate if your income is too high to qualify for Chapter 7. Chapter 13
bankruptcy would allow you to repay as much of your credit card debt that you
can afford to repay based upon your available income, and the remaining amounts
would be eliminated.
If you are facing insurmountable credit card debt, King
& King can help. Call today at 404-524-6400 for a free consultation. We can
help you figure out the best way for you to eliminate credit card debt and get
a fresh start. https://kingandkingattorneys.com/
If you’re overwhelmed by credit card debt, you’re not alone.
According to the Federal Reserve, U.S. consumers are currently carrying more
than $800 billion in credit card debt. And, about 4 million of those credit
card accounts are delinquent. The average balance on a credit card is now
almost $6,200, and the typical American holds four credit cards, according to
the credit bureau Experian. Fortunately, help is available.
We understand credit card debt isn't just a result of
careless spending. Many people in Georgia incur credit card debt because
they're having trouble covering their basic living expenses. Unexpected medical
bills, car repairs, home repairs, and sometimes just day to day life can make
using your credit card necessary.
There is Relief from Credit Card Debt
Credit card debt can leave you feeling like there’s no way
out. Balances keep growing, and then harassing telephone calls start to interrupt
your home and work life. Creditors and debt collectors want you to believe
there’s no hope, that there’s no way forward except making payments you can’t
afford. Fortunately, that’s just not true. King & King can help you file
bankruptcy and wipe out your credit card debt so you get a fresh start. Chapter 7 Bankruptcy will also clear your personal loans, payday loans, and medical
bills in most cases.
There are certain conditions that need to be met in order to
qualify for chapter 7 bankruptcy. You will have to pass the means test. This is
an income based test where your income has to be below a certain amount based
on your family size, your attorney can walk you through this process.
If you find yourself facing insurmountable credit card debt,
King & King can help. Call today at 404-524-6400 for a free consultation.
We can advise you of what is the best way for you to eliminate credit card debt
and get a fresh start.
If you are unable to pay your debts it may feel like there
is no way out. Fortunately, you can get a fresh start, Chapter 7 bankruptcy
allows you to have most if not all of your debts discharged. Bankruptcy laws can
be complicated, you can schedule a free consult with King & King where we
can help determine whether Chapter 7 is right in your situation, and help
navigate the bankruptcy process for you.
Filing for Chapter 7 Bankruptcy
As soon as you file your bankruptcy petition, an automatic
stay goes into effect that halts all collection efforts of your creditors,
including lawsuits, wage garnishments, foreclosure or eviction proceedings, and
more.At the end of a successful Chapter 7 case, the bankruptcy court will discharge your debts, including:
Credit card balances
Medical bills
Overdue rent and utilities
Personal loans
Some tax debts
Certain legal judgments
After a discharge, you will have no further legal obligation
to make any payments on those debts again, you will have a fresh start.
King & King understands how difficult and stressful life
can be when you feel as if you are drowning in debt. If you don´t think you can
bring your debts under control, and need the help of a team of caring
professionals, please call us at 404-524-6400 for your free consultation
Tuesday, July 23, 2019
Can Bankruptcy Eliminate All Credit Card Debt?
There are two primary forms of debt that Georgia residents
should understand. The first is secured debt, which is any type of debt
associated with collateral. Examples of secured debt include mortgages and auto loans. The other type of debt is unsecured, meaning there is no collateral
associated with it. Credit card debt is the most common type of unsecured debt.Tax-related debt can be either unsecured or a
third category: priority.
If your lawyer determines that you qualify for Chapter 7
bankruptcy, you can expect your credit cards and associated debt to be
eliminated. If you do not qualify for Chapter 7 relief, it may be best to file
under Chapter 13. For example, Chapter
13 may be appropriate if your income is too high to qualify for Chapter 7. In
such a case, Chapter 13 bankruptcy would allow you to repay as much of your
credit card debt that you can afford to repay based upon your available income,
and the remaining amounts would be eliminated.
If you find yourself facing insurmountable credit card debt, King
& King can help. Call today at 404-524-6400 for a free consultation. We can
advise you of what is the best way for you to eliminate credit card debt and
get a fresh start. https://kingandkingattorneys.com/
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.
Once your bankruptcy has been discharged, you’ll have the
chance to start fresh. At King & King, it’s true that we want to help you
move forward with your bankruptcy, but we also want to help you set yourself up
for future success. Here are three things we recommend you do once your
bankruptcy has been discharged.
Have an accurate credit
report
Two to three months after your bankruptcy has been
discharged, request a new credit report. Make sure that each and every creditor
who was discharged reported you with either a closed account or a balance of
$0.00. If you see that there are errors, then you’ll need to contact the credit
reporting agency in writing. When you do so, be sure to include evidence, like
your discharge order.
When the credit agency receives this correspondence, they
have 30 days to verify the information with the creditor in question. If the
creditor can’t verify that the balance they’re showing is accurate, then the
credit agency will remove the reporting. It’s also a good idea to contact the
creditor in writing as well.
Rebuild your credit
Many people are surprised to learn that once their
bankruptcy is discharged, they’re likely to get post-bankruptcy options from credit
card companies. The best way to use these cards to improve your credit is to
choose one card, use it for small purchases and repay it in full every month.
This can be an effective way to start rebuilding your credit.
If you’re in need of a car, consider getting vehicle
financing. Many financial companies will offer you credit even though you’ve
just been through a bankruptcy. However, they may charge higher interest rates.
To avoid this, you can add a cosigner. Rebuilding your credit can put you in a position
to buy a home in as early as two years after filing bankruptcy.
Create a budget
Most people who hire King & King file bankruptcy because
they’ve had something unforeseen come up, whether they lost their job, had
unexpected medical bills, a death in the family, or some other unforeseen
circumstance. Now that those issues are behind them, it’s time to get back on
track and live within their means. This means taking into account having
savings for emergencies, saving for retirement, and long term goals.
If you’re ready to declare bankruptcy, then we’re ready to
hear from you.
When you work with the right bankruptcy attorney, you can
trust that they’ll help you through the process from start to finish. That’s
exactly what you’ll get with the attorneys at King & King. When you have
your free initial consultation, we’ll be honest and upfront about your options
and will offer our advice on how you can best move forward. Call us at
404-524-6400 today for more information.
At King & King we help people find a fresh start. Here are a few reasons people come to us for help.
1. Medical Expenses
Studies indicate that this is the biggest cause of
bankruptcy. Accidents and illness can easily result in enormous medical bills -
bills that can quickly wipe out savings, retirement accounts, college education
funds and even home equity. Bankruptcy may be an option even before these
resources are exhausted.
2. Job Loss
Whether due to layoff or termination, the loss of income
from a job can be devastating. Not having emergency savings to draw from only makes
your situation more serious, using credit cards to pay bills can lead to deeper
debt. If you are unable to find employment quickly it can be difficult to keep your
creditors paid. Bankruptcy can put a stop to all collections.
3. Excess Use of Credit
Credit card bills, Car payments, mortgages, and other loan
payments can spiral out of control. If you find yourself at the point where you
can only make minimum monthly payments, bankruptcy may be the best option for
you.
4. Divorce
Divorce can create tremendous financial strain on both
partners. Legal fees, division of marital assets, decree of child support
and/or alimony, these alone can be enough to cause some to file.
The good news is bankruptcy can give you a fresh start. The
attorneys at King & King can put you back on track so you can stop worrying
and move forward. Call us today at 404-524-6400 for a free consultation or
visit us at www.kingandkingattorneys.com
for more information.
The most important effect of bankruptcy on your credit
report is that it removes your obligation to repay past debts, and that allows
you to start rebuilding your credit. If you are in jeopardy of missing
payments, then your credit score will drop and won’t stop until something is
done about it. If you have trouble
paying your bills each month and have no savings, Chapter 7 or chapter 13 bankruptcy is an option.
For most people you will see your credit score drop immediately
after filing for bankruptcy; however you can also expect to see your credit
score bouncing back shortly after the bankruptcy is filed because your debt to
credit ratio improves. You may also
start to get offers for credit cards and other loans after you file. Take your time when reestablishing credit and
make sure that the credit card you choose reports to the credit bureaus, also have a plan of action to keep your debt under
your control.
If you can’t keep up with your debt payments, then
bankruptcy is an option for getting a new start on your financial life. Call
King and King at 404-524-6400 for a free bankruptcy consultation today.
Bankruptcy is designed to remove the burden of debt and to
give you a fresh start. In your initial consultation with King & King, we
will discuss your financial problems and develop a solution just for you.
Many of the clients we speak with have been struggling for
months or years to make minimum monthly credit card payments. The average
credit card interest rate is over 20%. Paying the minimum payment, it can take
you 10 years or more to pay off your debt. Filing bankruptcy in Georgia can wipe the slate clean
so you can move forward.
Chapter 7 bankruptcy can wipe out all of your credit card
debt and unsecured loans, including medical bills. A Chapter 13 bankruptcy will
allow you to make payments based upon your monthly budget, and usually you only
pay back just a small fraction of your debt. As soon as your bankruptcy is
filed the threats of lawsuits and garnishment will stop immediately.
Filing for bankruptcy allows you to take control of your
finances. Call 404-524-6400 and speak with an attorney at King & King for a
free bankruptcy evaluation. We can help, call today.
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.
Credit card debt is an unsecured debt, meaning that there is
no collateral attached to it. Unlike a car or a home loan, credit card
companies cannot repossess any of your property for lack of payment.
In Chapter 7 bankruptcy in Georgia, it is
typical for credit card debt to be discharged, meaning it is wiped away and you
are no longer responsible for it. For most people who file a Chapter 7
bankruptcy in Georgia, all credit card debt is wiped out and they pay nothing
to the credit card companies. There are limited exceptions in which a
bankruptcy court will refuse to discharge credit card debt—particularly when
the credit card holder is believed to have committed fraud—but this is
extremely rare.
If you are struggling with out-of-control credit card debt,
don’t wait to be sued or garnished before you get help. Call King and King in Atlanta at
404-524-6400 for a free consultation or visit us online at
www.kingandkingattorneys.com. We will review your options and put you on the
track for financial freedom.
If you’re thinking about filing for bankruptcy in Georgia,
then you’re most likely wondering what types of debts you will be able to
discharge. Your bankruptcy discharge releases you from personal liability for
certain types of debts. This means that once a debt is "discharged" through bankruptcy, you’re no longer legally required to pay those debts.
The
discharge itself is a permanent order that prohibits creditors from collecting
on debts, or contacting you through phone calls and letters. Most debts are
dischargeable. However, not all debts
can be discharged through bankruptcy.
The most common types of non-dischargeable debts include the
following:
Some tax debts (especially debts for recently-filed tax
returns)
Child support
Spousal support or alimony
Debts from malicious injuries to persons or property
Government fines or penalties
Guaranteed educational loans
Government funded loans
Debts for personal injury actions involving drunk driving
While this list of non-dischargeable debts may seem like a
long one, most people are eligible to discharge all of their debt, including
medical debts, credit card debts, taxes over three years of age, personal loans,
past repossessions, broken apartment leases, etc. Your bankruptcy attorney will help you
discharge your debts and protect your assets.
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 www.kingandkingattorneys.com
Credit card debt is one of the most
common debts Americans have, and most of our clients want to know what will
happen to their credit cards in bankruptcy. Most importantly, credit card debt
can be discharged in bankruptcy. Credit
card debt is an unsecured debt and unsecured debt has the lowest priority in a
personal bankruptcy. Credit card debt is almost always dischargeable in bankruptcy.
It is important to know you can’t leave
any credit cards out of your bankruptcy. Bankruptcy is an all in process: all
debts need to be listed on your petition.
If you've been using your credit cards close to the time when you file
for bankruptcy it may be difficult to discharge that debt, especially if you
made a luxury purchase. Tell your bankruptcy lawyer about your recent credit
card usage. Your lawyer can formulate strategies
for filing your bankruptcy and getting all of your debts discharged.
Filing for bankruptcy in Georgia will give you federal protection
against creditor harassment, wage garnishments, foreclosure, and repossession. If
you file a Chapter 13 bankruptcy, credit card companies are also required to
accept the terms of your new repayment plan (most cases filed pay 0% to their
unsecured creditors). If you’re ready
for a fresh start, call King and King Attorneys in Atlanta today at 404-524-6400 or visit us at www.kingandkingattorneys.com for
more information.
