Is Chapter 7 Bankruptcy Right For You?

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.

Find Out How Our Chapter 7 Bankruptcy Lawyers Can Help

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

Filing Chapter 13 Bankruptcy In Georgia

Chapter 13 bankruptcy has helped millions of Americans get out of debt. Chapter 13 allows you to pay back your creditors, and create a payment plan that works for you.  Chapter 13 can also allow you to keep your home as missed mortgage payments can be included in your payment plan. You can stop foreclosure and keep your home. Car payments can also be restructured and high interest payments can be eliminated. If this sounds like the right option for you, King & King can help you throughout the entire bankruptcy process.

Benefits Of Chapter 13 Bankruptcy

A few of the advantages of Chapter 13 bankruptcy:

Avoid foreclosure
Liens and wage garnishments stop
Stop Car repossession
Assets are protected
Refinanced mortgages can be stripped away from your primary mortgage

All secured and unsecured debt, including some student loans and taxes, can be consolidated into a payment that you can afford.

Chapter 13 Bankruptcy Petition

Filing the petition with your bankruptcy lawyer is the first step. Once your attorney files your bankruptcy petition with the courts, an automatic stay is put in place so that your creditors cannot try to collect debts from you. This means the harassing phone calls will stop as does wagegarnishment, repossession, foreclosure, and lawsuits.

When filing, you will need to provide the names and addresses of all of your creditors and financial liabilities including your car loan, medical bills, credit card debt, tax liabilities, student loans, child support payments, alimony payments, personal loans, and mortgage. Listing your income and all of your debts is considered in what is called the “means test” to ensure that Chapter 13 will work for you. Your attorney can help you navigate this process.

If your debt is unmanageable, you need a solution. King& King can help you wipe the slate clean so that you can start over and have a bright financial future. Call us for a free consultation today at 404-524-6400

What Happens After I File For Bankruptcy In Georgia?

Considering filing for bankruptcy? Most people are unsure of the process and unsure of the outcome. The surprising fact is that most people are able to quickly rebound to get their credit and life back on track.

The process that takes places after filing for bankruptcy depends on whether you file Chapter 7 or Chapter 13 bankruptcy. We treat every case as a unique case because each case is unique. We can help you get the facts about what your situation is when you speak with one of the lawyers at King & King. Your initial consultation is provided free of charge.

Here are a few things bankruptcy can do for you.

•  Most people can improve their credit after filing bankruptcy.
•  Bankruptcy can save your house from foreclosure and your car from repossession.
•  After your debts are discharged through bankruptcy, you can find it much easier to start saving money and planning for the future.

To fully understand Georgia bankruptcy laws, and how they can impact your debt and improve your life, speak to the attorneys at King & King today by calling 404-524-6400 or visit us online at www.kingandkingattorneys.com

Six Signs That You Should Talk To a Bankruptcy Attorney

At one time or another everyone experiences some financial difficulties. If you are running into any of these problems, bankruptcy may put you back on the path to financial stability.

•  You are unable to make the minimum payments on your credit cards.
•  You are taking out payday loans.
•  Creditors are calling you.
•  You are having trouble sleeping at night because you are worrying about money.
•  You are struggling to make car your payments.
•  You have missed a mortgage payment.

Even if you are only experiencing one or two of the events on the list, it is better to meet with a Georgia bankruptcy attorney sooner rather than later. Contact the attorneys at King & King for a free consultation. 

Your attorney will look at your entire financial situation, answer any questions you have, and inform you about your options. Call us at 404-524-6400 or visit us online at www.kingandkingattorneys.com

Top Five Reasons People In Georgia File For Bankruptcy

Most people who file bankruptcy do so as a last resort. After struggling to pay the bills left over from some life-changing experience, such as a divorce, the loss of a job, or serious illness, filing bankruptcy can be the best option. There are many reasons people declare bankruptcy aside from being broke. Here are the top five reasons people in Georgia file for bankruptcy.

1. TO KEEP THEIR HOUSE

Bankruptcy is a very effective way for people behind on their mortgage payments to keep their homes. Chapter 13 bankruptcy can actually stop a foreclosure and allow you to get caught back up on payments you have missed. The remaining payments are structured into a manageable payment plan allowing you to repay the amount you are behind on a schedule that works for you.

2. TO KEEP THEIR CAR

Filing bankruptcy can stop a car, truck, or other automobile from being repossessed. If you file bankruptcy before your car is repossessed or quickly thereafter, it can force the creditor to either let you keep your car or return it to you. Payments that have been missed will be consolidated into a Chapter 13 Bankruptcy plan. The payments will be made to the Chapter 13 Bankruptcy trustee who will pay the finance company on your behalf and force them to work with you.

3. GET RID OF MEDICAL BILLS

The unfortunate event of an accident or illness can cause bills to add up faster than one ever thought possible. Whether the bills are your own or those of a loved one, they can quickly take a toll on your finances. In order to get out from under the weight of medical bills, you can file for Chapter 7 or 13 Bankruptcy which will alleviate the burden of the bills significantly, or, in many cases, completely.

4. RECENT UNEMPLOYMENT

Most families plan on the income that they are taking in every month, and the loss of a job can easily put them in an uncomfortable financial position. It can be difficult to find a new job, and during the process it’s easy to rack up quite a bit of debt. Even when income eventually does improve, this is a difficult situation to get out of without the help of bankruptcy.

5. DISCHARGE OF DEBTS

Declaring bankruptcy allows people who owe more money than they will ever reasonably be able to pay back to creditors some additional options. All types of bankruptcy filings allow for at least part, if not all, of debts to be forgiven.

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