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When someone files for bankruptcy, they typically do so because they’re looking for something of a “fresh start” when it comes to their existing debts and credit. Maybe a series of unfortunate financial decisions over the years has led them to the position they are now facing. Perhaps it was a matter of circumstance – they were a victim of larger situations (like economic activity) that are largely beyond their control.
Chapter 7 bankruptcy is a financial tool for those who have become unable to pay their debts. If approved, some types of debts no longer require repayment, allowing the individual to have a fresh financial start. Click here to read more »
Also commonly referred to as a “Wage Earner’s Plan,” Chapter 13 is a specific type of bankruptcy filing that is designed for those with a regular source of income. It’s a chance to come up with a long-term plan to repay all – or even some – of the debts they have incurred over time.
You may be considering filing for bankruptcy but are worried about losing your house if you do.
Filing for bankruptcy might be your answer to getting out from under crushing debt. It is not an easy process, though. There are complex legal filings necessary to complete a bankruptcy, which is why you will likely need a lawyer. Finding the right one is critical to your success, though.
Struggling to pay back your debt? Feel like you’ll never experience financial freedom? If you’re feeling overwhelmed by seemingly insurmountable debt, the good news is that you have options. For many individuals and business owners alike, filing for bankruptcy can help to alleviate much of the stress that comes along with excess debt.
Do you feel overwhelmed with debt? Do you avoid answering the phone or opening your mail hoping to avoid the bill collectors? If so, filing for Chapter 7 bankruptcy may be the answer you are looking for.
Filing for Chapter 13 bankruptcy in Georgia is a process governed by federal law, not state law. This is not to say, however, that Georgia law isn’t part of Chapter 13 bankruptcies filed in the state. In fact, it is these laws that outline the property that can be protected from liquidation.
COVID-19 plunged the world into an economic and health crisis unlike any seen to date. According to long-held views by economists, the rates of businesses filing for bankruptcy is influenced by economic activity — or lack thereof. Over the last two years, a range of companies across a diverse number of industries, such as energy, commercial real estate, food service and restaurant, travel and leisure, communications, retail and more, have filed for bankruptcy.
You are bound to have a lot of questions if you are considering filing for Chapter 7 bankruptcy in Georgia. As the largest bankruptcy filer in the state, Clark & Washington, PC has the answers you need. We provide answers to the most frequently asked questions about Chapter 7 bankruptcy below.
Deciding to file for Chapter 13 bankruptcy is a big step, and you want to feel confident that you are doing the right thing. Clark & Washington, PC, the largest bankruptcy filers in Georgia, provide answers to the four most frequently asked questions in this article that should help you know whether Chapter 13 bankruptcy is the best debt relief option for you.
Bankruptcy is intended to provide you with a second opportunity with your money. When you’ve gotten so far over your head with debt, declaring bankruptcy is a way to begin anew. But before entertaining the idea of bankruptcy to solve your financial worries, it helps to understand a little about what happens to debt when you file for bankruptcy.
Filing bankruptcy involves specific steps that must be completed successfully. Not understanding that process could mean having to start all over because you missed something. Even if you are not forced to start over you could encounter delays because you are not prepared. The best way to ensure a successful bankruptcy is to be as prepared as possible and that starts with a consultation with a qualified bankruptcy attorney.
When people decide to hire Atlanta bankruptcy law firms to file for bankruptcy, a common question they have is how the filing will impact their credit. The attorneys at Clark & Washington, a law firm focusing exclusively on Chapter 7 and Chapter 13 bankruptcy, are always happy to answer client questions. Filing for bankruptcy is a major decision with financial and legal implications, so knowing how it will impact your credit is important.
Once you decide to file for bankruptcy in Georgia, your next step is to find a qualified attorney to represent you. Although the law does allow bankruptcy petitioners to represent themselves in a process called pro se, most choose not to do so. Bankruptcy has long-term legal and financial consequences that can be challenging to understand when you do not have a legal background. You also need to consider that federal law prohibits bankruptcy judges and court employees from offering any advice about your case.
People who are in dire financial strain file for bankruptcy throughout the calendar year, but trends in filings show that filing becomes more common this time of year. If you’re facing a Chapter 7 or Chapter 13 bankruptcy right now, know that there are many other people in similar situations.
Deciding whether to file for Chapter 7 or Chapter 13 bankruptcy is difficult enough without having to wade through various myths to see if there is any truth to them. Unfortunately, falsehoods about both types of bankruptcy persist that make the process more challenging than it needs to be. In this blog, Georgia bankruptcy attorneys Clark & Washington provide factual information to counter some of the most persistent myths about Chapter 7 and Chapter 13 bankruptcy.
Bankruptcy gives people in debt a chance to start over without losing everything, but does that include their retirement accounts? There is a lot of misconception about bankruptcy rules. If you consider taking this grave step, knowing what it involves is essential. Do the laws and procedures of filing bankruptcy in Georgia include giving up your retirement accounts?
There is no benefit to creditors if you file for bankruptcy. They make their money by keeping you in debt. That’s why they don’t want you to know that you have the right to have most, if not all, of that debt forgiven under federal law. And, you can get out of debt for a fraction of what you’d pay creditors or debt settlement agencies – and in a lot less time.
What else are your creditors hiding from you about bankruptcy relief?
Losing a job and being out of work for a few weeks is bad enough – money is tight until you get that first paycheck, but many people make it through with little to no consequences. However, with the pandemic in play, people lost jobs and could not go back to work because of lockdowns. Even if businesses opened after a couple of months and you received unemployment, you probably got pretty far behind in paying bills.
A bankruptcy attorney at Clark & Washington, P.C., can help you get back on your feet and become debt-free.
