What is bankruptcy?

Bankruptcy is a legal process that provides individuals and businesses relief from overwhelming debt. It offers protection from creditors while either eliminating debt through Chapter 7 or reorganizing it through Chapters 11 or 13.

How do I know if bankruptcy is right for me?

If you're struggling with overwhelming debt, facing foreclosure, or experiencing creditor harassment, bankruptcy might be appropriate. During your free consultation, we'll evaluate your specific situation and discuss all available options.

Will bankruptcy stop creditor harassment?

Yes. Once you file bankruptcy, an automatic stay immediately stops all collection activities, including calls, letters, lawsuits, foreclosures, and wage garnishments.

Chapter 7 Bankruptcy

What debts can be eliminated in Chapter 7?

Most unsecured debts can be eliminated, including:

• Credit card debt
• Medical bills
• Personal loans
• Old utility bills However, certain debts like recent taxes, student loans, and child support cannot be discharged.

Will I lose my property in Chapter 7?

Not necessarily. Georgia law provides exemptions that protect significant assets, including:

• Up to $21,500 in home equity ($43,000 for couples)
• Up to $5,000 in vehicle equity
• Personal property up to $5,000
• 100% of qualified retirement accounts

Chapter 13 Bankruptcy

How does Chapter 13 help save my home?

Chapter 13 immediately stops foreclosure and allows you to catch up on missed payments over 3-5 years while maintaining current payments. It may also allow you to eliminate second mortgages if they're completely underwater.

How are payment plans determined?

Chapter 13 payment plans are based on your income, expenses, and types of debt. We'll work together to create an affordable monthly payment that satisfies legal requirements while meeting your needs.

Chapter 11 Bankruptcy

Can my business continue operating during Chapter 11?

Yes. Chapter 11 is designed to allow businesses to continue operating while reorganizing debt. You maintain control of operations while developing and implementing a reorganization plan.

How long does Chapter 11 take?

The process varies, but businesses typically have 120 days to file a reorganization plan. The entire process may take several months to over a year, depending on complexity.

Practical Concerns

How much does bankruptcy cost?

Costs vary based on your situation and type of bankruptcy. During your free consultation, we'll discuss all fees and payment options. Remember, investing in professional guidance often saves money in the long run.

How long does bankruptcy stay on my credit report?

Chapter 7 bankruptcy remains on your credit report for 10 years, while Chapter 13 remains for 7 years. However, many clients begin rebuilding credit immediately after discharge.

Will everyone know I filed bankruptcy?

While bankruptcy is public record, most people never know unless you tell them. Your privacy is important, and we handle all cases with complete confidentiality.

How long does the bankruptcy process take?

• Chapter 7: Typically 3-6 months
• Chapter 13: 3-5 year payment plan
• Chapter 11: Varies based on complexity

Getting Started

What should I bring to my consultation?

Bring basic financial information including:

• Recent pay stubs
• Tax returns
• Major bills
• Collection notices However, don't delay scheduling if you don't have everything - we can start with whatever information you have.

How do I schedule a consultation?

Contact our office at: 770-436-3334 or fill out our online contact form. We offer flexible scheduling, including evening and weekend appointments.

*This information is general in nature and should not be considered legal advice. Schedule a consultation for advice about your specific situation.