Filing Chapter 7 Bankruptcy In Georgia

Chapter 7 bankruptcy is often referred to as a “fresh start” bankruptcy. The reason is most unsecured debts are discharged and you are left debt free. After your initial free consultation we can tell you whether you qualify for Chapter 7 or not. The good news is most clients qualify. Chapter 7 will also immediately stop collection harassment, wage garnishment and bank account seizures. Once we file your case, your creditors must stop any action to collect a debt from you.

To determine if you qualify we look at 4 important questions:

1. Your monthly income and expenses.

First we make sure you can pass the Means Test, which looks at your income over the past six months and then compares that income to a household of your size in Georgia. Most clients pass the means test. We also will review your specific income and expenses to ensure your budget qualifies you to file Chapter 7.

2. Assets.

We inventory and value your assets. We will review real estate, automobiles, and other personal property of high value. We then protect these assets by using the exemptions that Georgia bankruptcy law and federal bankruptcy law allow.

3. Creditors.

Your attorney will examine your debt and determine how each of your creditors will be affected by your bankruptcy case. Most debt – such as credit card debt, medical bills, unsecured loans, second mortgages, and payday loans can be completely wiped out.

4. Timing.

We will fast-track your bankruptcy case to be filed if you are facing garnishment, foreclosure, or some other legal action.

Struggling with debt can be overwhelming.  If you’re ready to get your life back, contact King & King and schedule a free consultation with one of our bankruptcy attorneys at 404-524-6400.  We can help you protect your home, your vehicles, and in most cases, everything else you own.

Retirement and Bankruptcy in Georgia

Considering Bankruptcy in Retirement?

The first thing to know is filing for bankruptcy isn't giving up. Filing bankruptcy can be a wise decision that can protect your retirement assets and prevent the possibility of leaving financial burdens to your family. Even if you have made careful financial arrangements for your retirement, unexpected problems can arise. You may consider filing for bankruptcy after the death of your spouse or a serious illness that resulted in significant medical bills. Losses in investments or real estate, reduced pensions, predatory lending, and sometimes simply the rising cost of living can all be reasons to file for bankruptcy.

How Can  Bankruptcy Help?

Filing for bankruptcy does have many benefits. For example, a bankruptcy discharge does not affect your retirement assets. You will not lose your retirement plans, including your 401(k), 529 Plan, Roth IRA, or SEP IRA. Filing for bankruptcy will enact an automatic stay, which will stop creditors from harassing you. It will also put a stop to eviction or foreclosure proceedings and protect your personal property, in addition to giving you greater financial stability to enjoy your retirement.

If you are in financial distress, bankruptcy may be a viable option to help you get back on track. The first step is to contact an experienced bankruptcy lawyer who can help you understand your options and explain the process of filing for bankruptcy to you. Call King & King today at 404-524-6400 for a free consultation or visit us at www.kingandkingattorneys.com for more information.

I Don’t Want My Credit Score to Drop, Should I File Bankruptcy?

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.

Stopping Wage Garnishment In Georgia

If you are struggling with debt, having money taken out of your paycheck can be a devastating setback. For many Georgians, wage garnishment is a hard reality. Filing for bankruptcy can make it stop.

At King & King bankruptcy attorneys, we have over 30 years of experience helping people through the bankruptcy process. Our knowledgeable attorneys are here to get you the fresh start you need.

You Can Stop Wage Garnishment Today

If you are facing creditor actions like wage garnishment and bank account levies, King & King can help. If you are behind on your loan, medical, or credit card payments, creditors may pursue a lawsuit against you. If successful, they will have the legal right to take up to 25 percent of your paycheck. This is a devastating way to pay a debt.  Also, creditors who have obtained a judgment against you may take funds out of your checking or savings account.

Filing for bankruptcy creates an "automatic stay," an action that stops debt collectors from taking action against you. King & King makes the "automatic stay” work for you and helps you keep every dollar of your paycheck and your bank account. Both Chapter 7 and Chapter 13 bankruptcy will protect you from wage garnishment and other creditor actions. Our attorneys will work with you to help you decide the best debt relief plan.

If you are ready to stop wage garnishment and get out of debt, we are here to help. Contact King & King today at 404-524-6400 to schedule a free consultation with an experienced lawyer. 

What Do I Do If I Have Been Sued Over Debt In Georgia?

If you have been sued over a past-due debt, you may feel overwhelmed. Fighting a legal battle against a debt collector can be time consuming and difficult, or simply impossible to win.  The good news is there are legal steps you can take that can stop the lawsuit. At King & King bankruptcy attorneys, we help people who are facing lawsuits and other creditor actions. Our attorneys are focused on making your debt relief goals a reality.

Does Bankruptcy Stop Lawsuits?

Bankruptcy can stop the lawsuit. Whatever stage the lawsuit is in — if you have just been served with papers, if it is already in court, if you have only been threatened with a lawsuit — bankruptcy creates what is known as an "automatic stay," a legal action that stops lawsuits and other creditor actions.

The automatic stay is very powerful and will put an immediate stop to:

Wage garnishment

Bank account levies

Home foreclosure

Repossession of automobiles

Creditor calls

If you have been sued for a debt, our bankruptcy lawyers are here to help you explore your debt relief options. We handle Chapter 7 and Chapter 13 bankruptcies for clients in Georgia. We understand the anxiety that comes with having a lawsuit brought against you. We will put our skill and experience to work for you to help you put an end to the lawsuit and achieve your debt relief goals. Call King & King at 404-524-6400 or visit us at www.kingandkingattorneys.com for a free consultation. 

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.