No one wants to file bankruptcy, but in this tough economy it has become a painful reality for many people. There were over 1.5 million individual filings in 2010. Considering that alot of those filings were for married couples and that number also does not inlcude those individuals who filed bankruptcy for their business, it's safe to say that if you are considering filing bankruptcy this year, you are hardly alone.
Chapter 13 Bankruptcy
Chapter 13 bankruptcy is the primary reorganization chapter of bankruptcy for individuals. It is mainly used by debtors when they have one of the following scenarios:
Chapter 7 Bankruptcy
Chapter 7 bankruptcy is the most common type of individual bankruptcy filing. It is primarily used by debtors when they have no assets that their Chapter 7 trustee can liquidate and they have an inability to pay their unsecured creditors.
As a bankruptcy lawyer who has assisted hundreds of clients in declaring Chapter 7 and Chapter 13 bankruptcy around Atlanta and the rest of Georgia, I’ve learned that their greatest concerns revolve around their house, their car, and other substantial assets that they’ve acquired over the years.
Bankruptcy in Atlanta, Georgia
Bankruptcy is a serious financial step and should not be entered into lightly. However, the fortunate part about it being such an important step is that it provides considerable debtors against creditors. Below are just some of the signs that you might want to consult an attorney about filing bankruptcy.
Is your house headed to foreclosure?
Do you need a loan modification to stay in your home, but the bank refuses to work with you?
Have you tried to short sale your home or give it back to the bank with a deed in lieu of foreclosure, but the bak will not work with you?
Is your car about to be repossessed?
Is your number one priority to keep your house and your car?
Do you want to pay your creditors off, but just need an organized way via bankruptcy court protection to do so?
Have you been sued? Or even worse, has that lawsuit led to a judgment or garnishment?
Have you lost your job or been furloughed?
Is your credit so bad you cannot qualify for a loan and you don't have the ability to pay off your creditors?
Can you not afford even the minimum pahments on your credit cards?
Can you afford only the minimum payments on your credit cards, but cannot pay down the balance beyond that?
Are you sick of almost all of your credit card payments going to interest and penalties?
Are your creditors not willing to work with you?
Do you constantly receive harassing phone calls at home and at work?
Is the emotional toll of your financial situation too much to deal with?
As you can see from the list above, there are many different reasons for individuals to file bankruptcy. Bankruptcy is hardly about giving up,but is rather about restructuring your life, which might include repaying your creditors, depending on your particular financial situation.
At the Bricks Law Group, we help individuals file Chapter 7 or Chapter 13 bankruptcy. Located in Dunwoody, Georgia, we serve all the metro Atlanta counties. We file cases throughout the Northern District of Georgia, which includes the courthouses in Atlanta, Gainesville, Newnan and Rome.
Our firm is built around giving personal attention to each client. We understand that your case is the most important case we have as far as you are concerned. We agree and will respect your situation by giving you the time and effort you deserve. Additionally, we offer a free initial consultation.
Bankruptcy is a complex area of law, even more so after the 2005 changes in the law. Although you can represent yourself in the proceedings, we do not recommend doing so. We also do not recommend picking an attorney with whom you are not entirely comfortable. Filing bankruptcy is one of the biggest financial decisions of your life, and bankruptcy done wrong or incomplete, can deny you the entirety of the relief you are entitled.
"We cant thank you enough for your time, expertise through this process! It was a pleasure meeting you and your staff. The process was smooth and seamless. And we always felt comfortable knowing you were representing us. Your firm will always resonate in our minds and hearts for the awesome job you performed!"