Can Bankruptcy Stop Car Repossession?

Having a car is essential. The good news is filing a bankruptcy petition will immediately stop an auto lender from repossessing your car.

The bankruptcy attorneys at King and King will help you determine how you can keep your vehicle after bankruptcy. We will also help you obtain a fresh financial start, free of debt.

You Can Stop Repossession

Once you file for bankruptcy, the threat of repossession stops. Your attorney will discuss your options with you. These options may include:

Redemption — If you are underwater on your loan you can negotiate to obtain more favorable terms.

Ride through — Keep the vehicle and keep making your payments.

Reaffirmation — Renew your loan at the same terms.

Even if you are behind on your payments, we can help keep you in your car. Filing Chapter 13 bankruptcy allows you to repay your car loan slowly over three to five years, often with an interest rate much lower than what you already have. Filing Chapter 7 bankruptcy will give you the time you need to either get caught up on your payments or modify your loan. Your attorney will help determine which is the best option for you.

At King and King, we can stop repossession immediately and take the actions needed to help you get out of debt. Call us today at 404-524-6400 or visit us at www.kingandkingattorneys.com for more information.

Bankruptcy Can Stop Wage Garnishment In Georgia Immediately

If wage garnishment has started, you need help! Your paycheck is at risk until the moment we file your bankruptcy petition. Filing for either Chapter 7 or Chapter 13 bankruptcy will stop garnishment actions against you. Filing for bankruptcy will also discharge the underlying debts that led to the garnishment.

In Georgia, a creditor can garnish as much as 25% of your wages. Such a large amount can mean financial disaster, of course. If you have more than one creditor you are in trouble with, then a garnishment makes it likely you will default on all of them. It could even mean your house goes into foreclosure or you lose a car, if you cannot pay your bills. Then you may face being garnished on what remains of the car loan after it is auctioned.

Bankruptcy will stop your garnishment immediately. King and King may also be able to recover up to 90 days of wages that were garnished prior to filing.

Having your wages garnished can cause a huge strain on your finances and livelihood. Call our Georgia bankruptcy lawyers today for a free consultation. King and King can provide the bankruptcy relief and protection you need to get a fresh start. Call us at 404-524-6400 or visit us at www.kingandkingattorneys.com for more information. 

I’m Facing Foreclosure In Georgia, What Should I do?

Facing a foreclosure is something that you never imagined would happen. For most people, foreclosure is often the result of circumstances beyond their control, such as a loss of a job or an unexpected illness. One solution may be to sell the property before the date of the foreclosure sale. This can be hard to do given the time constraints of a foreclosure. If you want to keep your home and find a way to get caught up on your payments, there is another solution.

You can stop home foreclosure and keep your home by filing a Chapter 13 bankruptcy. King and King bankruptcy attorneys can advise you on whether you should file for bankruptcy, and whether Chapter 13 or Chapter 7 bankruptcy is right for you.

Foreclosures under Chapter 13 Bankruptcy let you pay late payments over the length of a repayment plan, usually three to five years. The benefit of filing for Chapter 13 bankruptcy is that you get to keep your home and get current on the mortgage over time.

Chapter 13 bankruptcy can also eliminate the payments on your second or third mortgage altogether. Your attorney can help you file so the court may “strip off” the second and third mortgages and re-categorize them as unsecured debt. Under Chapter 13, unsecured debt takes last priority and often does not have to be paid back at all.

To find out more about how bankruptcy can help you stay in your home and get your financial life back on track, call King and King for a free consultation at 404-524-6400 or visit us at www.kingandkingattorneys.com

How Can Filing Bankruptcy In Georgia Help Me?

Filing bankruptcy in Georgia can remove your credit card debt, save property from being taken by creditors, and much more.

Bankruptcy takes your financial situation and puts it under the protection of the federal bankruptcy court. Bankruptcy also can make it possible for you to:

   ·         Eliminate the legal obligation to pay most or all of your debts. This is called a "discharge" of debts. It is designed to give you a fresh financial start.

   ·         Stop foreclosure on your home and allow you an opportunity to catch up on missed payments.

   ·         Prevent repossession of a car or other property, or force the creditor to return property even after it has been repossessed.

   ·         Stop wage garnishment, debt collection harassment, and similar creditor actions to collect a debt.

   ·         Restore or prevent termination of utility service.

   ·         Pay debts over a longer period of time than originally planned.

Bankruptcy can give you the peace of mind of no longer being under a heavy debt load that you can't repay. Call King and King at 404-524-6400 for a free consultation and take control of your financial life today or visit us at www.kingandkingattorneys.com for more information.

I Need Payday Loan Help In Georgia

Payday loans are designed to help you pay your bills until your next paycheck. While these loans can be helpful in the short-term, they come with high interest rates and strings attached. The truth is most people get caught up in a never ending cycle of borrowing, the debt and interest add up, and they are unable to pay the loan back.

The good news is payday loans are considered unsecured debt. Unsecured debt is generally discharged in bankruptcy proceedings. Even if payday lenders include a disclaimer in their paperwork that states that the loan is not dischargeable in bankruptcy, payday loans are fully dischargeable.

Your attorney can better describe the benefits of Chapter 7 and Chapter 13 bankruptcy and which one is right for you. Below is a brief summary of the differences.

Chapter 7

Chapter 7 bankruptcy allows you to discharge debts without repayment.  Almost all unsecured debt is dischargeable.  Your payday loan is likely to be discharged, since it is not secured and is not a priority debt.

Chapter 13         

In a Chapter 13 bankruptcy, you repay certain debts using a repayment plan over time.  Payday loans are not paid back for most people in a Chapter 13.  They are simply discharged.

It is important for anyone filing for bankruptcy to know their rights and the additional benefits of Chapter 7 and Chapter 13 bankruptcy.  Contact King and King today for a free consultation at 404-524-6400. We will be happy to answer any questions about payday loans and bankruptcy and will help you get financially back on your feet again. www.kingandkingattorneys.com

What Property Can I Keep When I File a Chapter 7 Bankruptcy In Georgia?

Bankruptcies are meant to be used as a legal tool to give you a clean slate and help restart your financial life. Georgia bankruptcy courts don't want to take everything away you. Most property can be exempted during a bankruptcy. However, you are required to complete bankruptcy paperwork and procedures according to the rules of the bankruptcy court.

Most motor vehicles, such as a family car that is used to travel to and from work, can be exempted up to a certain amount. Other items that can be exempted include clothing, furnishings and household goods. The value of these items must be reasonable, so if you have an abundance of items or items the court deems unnecessary for daily living, you will want to speak to your attorney to decide the best course of action.

Household appliances, such as refrigerators and stoves, can be exempted, as can jewelry up to a certain amount. All or a portion of your home's equity may also be exempted.

Other items that might be exempted include pensions, tools of your trade, and damages received for personal injuries.

The bankruptcy attorneys at King and King provide Chapter 7 representation throughout Georgia. We will thoroughly evaluate your financial options with a free consultation and help you obtain a fresh start. Call us at 404-524-6400 or visit our website for more information at www.kingandkingattorneys.com

What Does A Debt Discharge In Bankruptcy Mean?

Many types of debts, including medical bills and credit card debt, may be discharged when you file for Chapter 7 or 13 bankruptcy in Georgia.  When a debt is discharged, the debt is forgiven. Put simply: you are relieved of legal responsibility and will never need to repay the debt.

Your creditors will be prohibited from suing you or taking legal action to collect the debt. They are also prohibited from calling you, sending your demand letters, or harassing you in any way.

Filing for bankruptcy is not a decision to be taken lightly. Your first step should be to consult with a bankruptcy attorney in order to ensure that the bankruptcy filing goes as smoothly as possible. With the right attorney, your debts can be eliminated, allowing for a clean financial start.

If you’re ready to talk to an attorney about what bankruptcy can do for you, call King and King at 404-524-6400 or visit us online at www.kingandkingattorneys.com today for more information.