How to File Bankruptcy in Georgia

Are you burdened by an overwhelming amount of debt? Bankruptcy is an excellent means of finding relief from debts that you cannot afford to repay. Every year, thousands of people in the state of Georgia make the decision for a fresh start using bankruptcy. King & King bankruptcy attorneys are here to help. Our ultimate goal is to help you get out from under your debt and rebuild your financial foundation.

Here are a few things to consider when filing for bankruptcy.

Hiring an attorney

Filing bankruptcy is much more complicated than it appears on the surface. It is important to have an attorney representing you.  Your attorney can help you determine which debts you can discharge. Your attorney will help you protect your assets, and will help you do so within the law. Your attorney will make sure you list all assets and that every asset that can be is protected. Your attorney will help you ensure that your bankruptcy is a fresh start. Hiring a good attorney to represent, protect, and advise you is your first investment in a new financial future. Call King & King for a free consultation today 404-524-6400

Types of Bankruptcy

There are several types of bankruptcy that can be filed. Anyone hoping to file bankruptcy under Chapter 7 in Georgia must first pass a means test. This test deducts your living expenses from your income to determine how much disposable income you have (if any). If your disposable income is below the median for a household of your size, then you may be able to protect your property and have your credit cards, medical bills, and other debts discharged through Chapter 7 bankruptcy.  The means test is complicated. It is very important to have an attorney’s help so you can get the best relief bankruptcy has to offer.

People who have some disposable income but are still unable to repay their debts may be eligible for Chapter 13 bankruptcy. In Chapter 13, you will be able to set up a repayment plan with your creditors and continue making affordable payments over the next three to five years. In many cases, unsecured creditors are not paid at all. Once your repayment period is up, your remaining debt is discharged. Your attorney will help you decide which chapter will get you the best possible debt relief. 

Life After Bankruptcy

The good news for people who go through the bankruptcy process is that there is life after bankruptcy. It is a common bankruptcy myth that you cannot get credit after bankruptcy. In fact, this is far from the truth. While it might take a year or two, bankruptcy can help you restore your credit. Many people report huge jumps in their credit score a year or two after finishing with bankruptcy.

If you are facing overwhelming debt and are interested in a fresh start, our bankruptcy lawyers are here to help. Contact us today online to schedule a free debt relief consultation with an experienced attorney or call us at 404-524-6400

How Fast Can I file For Bankruptcy In Georgia?

If you’ve found yourself facing a lawsuit, your wages are being garnished, your car is about to be repossessed, or even worse you receive a foreclosure notice, it’s not too late. When you contact King & King, we can take fast action to put a halt to those procedures.

We offer legal assistance that you can trust to get you out of debt and secure a clean slate. An emergency bankruptcy filing is done very quickly. Perhaps your home is in foreclosure and the sale is days away, or the repo man is circling the block. Certain forms must be filled out and filed quickly in order to create an “automatic stay.”

An “automatic stay” means that your creditors are informed immediately of the filing, at which time they must cease their attempts to collect their money or property.  This is a great reason to hire a qualified bankruptcy attorney. King & King has the efficiency and experience needed to take quick action on your behalf.

King & King bankruptcy attorneys can help stop foreclosure, repossession and wage garnishment, fast.

Your attorney will work personally with you to determine the best solution for your case. An emergency filing can stop your home from being foreclosed upon, or prevent your car from being repossessed. We will listen to you and guide you through the best option for handling your debt.

Call us today at 404-524-6400 for your free bankruptcy evaluation or visit us online at www.kingandkingattorneys.com for more information.

Can I Prevent Foreclosure by Filing for Bankruptcy in Georgia?

At King & King, we understand that life happens and you may have found yourself in the position of being unable to keep up with your financial obligations. Whatever got you to the point where you are now, our attorneys are committed to helping you come up with a solution keep your home. Bankruptcy protection can be an effective foreclosure defense, one that we have used to help many of our clients avoid losing their homes to foreclosure.

In a Chapter 13 bankruptcy, a repayment plan is created that gives you a way to catch up on past due mortgage payments and unpaid debt without fear that any other legal actions will be pursued. Another benefit of filing for Chapter 13 is that a second mortgage could be "stripped," and you will never have to pay it back.  Ask your King & King attorney about “Lien Stripping” if you have a second mortgage.

If you qualify for a Chapter 7 bankruptcy, we can help you keep your home and wipe out credit card debt, medical bills, and personal loans. If you’re ready to get started, call us today so that one of our experienced bankruptcy lawyers can review your current mortgage situation and advise you as to whether filing for bankruptcy may be right for you. Call King & King at 404-524-6400 or visit us at www.kingandkingattorneys.com for more info.

Can I File for Bankruptcy More than Once in Georgia?

If your debt is out of control and you have no way to pay it off, bankruptcy can be a positive solution. King & King can help you discharge or eliminate your debts and obtain a clean financial slate.

If you have taken advantage of bankruptcy in the past, but you have found yourself in the position of needing debt relief again, you may be wondering if you are eligible to file for bankruptcy again. The answer is yes. The type of bankruptcy you filed before will have an impact on both the type of bankruptcy protection you may be eligible to seek and how long you need to wait before you can file again.

Generally, the rules for filing a second bankruptcy are as follows:

If you filed Chapter 7, you will have to wait 8 years before filing Chapter 7 again.

If you filed Chapter 7, you may file another Chapter 13, but you may not be eligible for a discharge until 4 years have passed.

Every situation is different and speaking to a qualified bankruptcy attorney should be your next step. Our attorneys will be able to review your current situation and advise you of the bankruptcy options available to you. Call King & King bankruptcy attorneys today for a free initial consultation. 404-524-6400 or visit us online at www.kingandkingattorneys.com for more information.

Blogarama.com - Personal Finance Blogs

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

What Are The Differences Between Chapter 7 Bankruptcy & Chapter 13 in Georgia?

Chapter 7 bankruptcy and Chapter 13 bankruptcy are the most commonly filed types of bankruptcy in Georgia. Whether you can file a Chapter 7 or Chapter 13 bankruptcy depends on your income, assets, debts, and your financial goals. Your attorney will assist you in determining which type of bankruptcy will work best for you.

Chapter 7 Bankruptcy

Chapter 7 bankruptcy is designed to wipe out your unsecured debts, credit cards, and medical bills for example. You would qualify for Chapter 7 bankruptcy if you are unable to pay your debts on time and your income is below the set threshold.

When you file for a Chapter 7 bankruptcy, a trustee is appointed to your case. The Chapter 7 trustee’s job is to sell your nonexempt property to pay back your creditors. If you don’t have any nonexempt assets (most cases are like this), your creditors receive nothing. King & King can help you protect your assets and keep everything you own in most Chapter 7 cases.

Chapter 13 Bankruptcy

Chapter 13 bankruptcy is designed for debtors with regular income who can pay back some of their debts through a repayment plan. If your income is too high to qualify for Chapter 7 bankruptcy, a Chapter 13 case can provide you substantial relief. Chapter 13 bankruptcy also offers many benefits that Chapter 7 bankruptcy does not, such as the ability to catch up on missed mortgage payments.

Another benefit of Chapter 13 bankruptcy is you get to keep your property. In Chapter 13 you pay back a portion of your debts through a repayment plan. The amount you pay back depends on your income, expenses, and types of debt. Typically, Chapter 13 bankruptcy is for debtors who can afford to make monthly payments to get caught up on missed mortgage or car payments.

King and King has over 30 years of experience, and we are here to assist you in determining if filing for Chapter 7 bankruptcy or Chapter 13 bankruptcy is best for you. Please call us for a free initial consultation at 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