Are you suffering under a mountain of debt? Do you wake up in the middle of the night wondering how you are ever going to be able to pay your bills? Are you worried about losing your home? There are many things that can lead to debt that spirals out of control. It could be divorce or losing a job or unexpected medical bills. It could just be the result of many, small, poor purchasing decisions. Whatever the cause, bankruptcy can offer many consumers a new chance to live a debt-free life without the constant, crushing worry about bills and harassment from creditors.

Benefits of filing bankruptcy in Georgia

The most immediate benefit you’ll get from filing for bankruptcy in Georgia is a stay on all collection actions. That means you won’t get any more threatening phone calls or letters demanding payment. Creditors also won’t be able to garnish your wages or file lawsuits to collect debt. In Chapter 13 bankruptcy cases, you’ll also be able to remain in your home without the threat of foreclosure for past missed mortgage payments. (You do need to keep current on present and future payments.)

In addition to putting an end to harassment from creditors, you’ll also get an opportunity to relax and breathe without that overwhelming worry about how you’re going to pay your bills.atlanta ga attorneys

The differences between Chapter 7 and Chapter 13 bankruptcy

There are two basic types of bankruptcy for consumers in Georgia–Chapter 7 and Chapter 13. Chapter 7 bankruptcy, sometimes referred to as liquidation bankruptcy, is the most common type of bankruptcy in the United States. With Chapter 7 bankruptcy, your assets are sold to pay your creditors and the balance of your debt, in most cases, is excused. There are exceptions to what can be sold. You’re allowed to keep your primary residence (under a certain value), one vehicle, your 401k account and a reasonable amount of household possessions (like your furniture and your clothes). Some types of debt will remain after bankruptcy, such as student loans, alimony and child support, federal taxes on returns filed within three years and secured debt, such as your mortgage and car loan.

Chapter 13, on the other hand, is referred to as reorganization bankruptcy. With this type of bankruptcy, you are given a period of five years to pay off your debt under the supervision of a court-appointed trustee. This type of bankruptcy is ideal for someone who had lost a job and is now working or who was off work for a medical reason and is now healthy and back to work. Under Chapter 13 bankruptcy, you don’t have to sell your assets, so things like your boat, RV, vacation home and savings accounts are protected. As long as you make the monthly agreed upon payment to the trustee’s office on time, all collection actions for past debts are suspended and your debts will be paid by the trustee.

Working with our bankruptcy attorneys in Atlanta

Filing bankruptcy is a complicated process, involving numerous forms and procedures. While it’s possible to file bankruptcy on your own, enlisting the assistance of a good bankruptcy attorney can help the process go more smoothly. Working with an attorney ensures that your forms will be completed correctly and not rejected by the court. An attorney can also offer you guidance on which type of bankruptcy is best for you and whether the process is right for you at all. Best of all, you don’t have to spend your precious time teaching yourself bankruptcy law and pouring over copious legal paperwork.

In many cases, there is no upfront fee to get started with your Chapter 7 bankruptcy, and you get immediate relief from creditors. At Clark and Washington, we offer a zero money down option for most filers. With Chapter 13 filings, the majority of your attorney fee can be folded into the bankruptcy plan and included in the amount you pay to the trustee each month. At Clark and Washington, we’ll get you started on the right path.

To learn more about how bankruptcy can give you a new financial start, contact the law offices of Clark and Washington at (insert contact info) for a free consultation. We’ve been helping people like you get out from under the crushing pressure of debt since 1983. We are Georgia’s largest bankruptcy filer.