Bankruptcy Attorney in Georgia
Are you struggling to make ends meet? Are you being hounded by creditors and bill collectors, looking for money that you just don’t have? If so, you don’t have to live with the financial stress and strain any longer. Instead, turn to a Georgia bankruptcy lawyer for help.
Bankruptcy can be a powerful tool for restructuring and eliminating debts. With the right attorney on your side, you could get out from under the weight of crushing debt and move on to a brighter future. If you’re considering bankruptcy, contact Weaver Law Firm today. For over 20 years, our attorneys have been helping people in Gainesville, Cumming, Murrayville, and beyond through the bankruptcy process and out the other side.
We offer a free consultation where we can answer your questions and talk about your options. For your free case review, call us or contact us online today.
How Can Filing for Bankruptcy Help Me?
Bankruptcy can seem scary, especially when someone is unfamiliar with the process. But when people are struggling with debt, bankruptcy can provide many key benefits. Bankruptcy could help you by:
- Putting an automatic stay in a place that protects you from debt collectors while the case resolves in court. An automatic stay prevents debt collectors and creditors from taking your home, car, and other valuables during the case. It also prevents them from contacting you or harassing you.
- Bankruptcy can eliminate or restructure your debts, depending upon your situation and your needs. Bankruptcy can help you get out from under debts that may have been following you for years.
- Bankruptcy can help you get a new start once the case is complete. By eliminating or restructuring debt, you can start fresh with your finances.
What Is Chapter 7 Bankruptcy?
In Chapter 7 bankruptcy, the court may liquidate many of a person’s assets to pay debts, distribute that to creditors, and then eliminate the remainder of the debt. To qualify for Chapter 7, you’ll need to meet a means test used by the courts. It looks at your income and your expenditures each month. If your income is below the court’s threshold, you may be allowed to file a Chapter 7 case.
What Is Chapter 13 Bankruptcy?
A Chapter 13 bankruptcy is different from Chapter 7 because Chapter 13 is open to most people and is used to reorganize debts. People often use this type of bankruptcy when they need more time to pay debts or are having trouble with income. Typically in a Chapter 13 case, individuals create a repayment plan, and once they’re finished making payments according to that plan, the remainder of the debt may be discharged by the court.
If you’re considering how to handle your debt, talk with a bankruptcy lawyer in Georgia to understand your options. At Weaver Law Firm, our attorneys can answer your questions and help you find a path forward.
What to Expect When Filing for Bankruptcy
When you’re filing for bankruptcy, you can expect to prepare a series of forms followed by a filing with the bankruptcy court. If the court accepts the filings, an automatic stay starts. At that point, any attempts by creditors or debt collectors to collect debts must stop. The automatic stay is a powerful tool in bankruptcy and can help give you immediate relief.
From there, the discussions with a case trustee typically begin. The trustee may manage assets in a Chapter 7 bankruptcy case, manage filings, arrange meetings with creditors, and gather relevant information. The trustee will review any paperwork, dispose of assets in a Chapter 7 case, and ensure that the bankruptcy process proceeds with integrity.
If everything goes smoothly, the case will move toward resolution. In a Chapter 7 case, this could mean the liquidation of assets and the discharge of debt. In a Chapter 13 case, it could mean the approval of a payment plan and the start of payments.
Our Georgia bankruptcy lawyers are always available to answer your questions and help you understand if bankruptcy might be right for you. We’ve also answered a few questions that people often ask below:
Yes, you may be able to keep your home if you file for bankruptcy. In bankruptcy, your equity in a home may be protected by what’s known as a homestead exemption. As part of a bankruptcy proceeding, you’ll need to understand what your home is worth, how much equity you hold, and the specific bankruptcy rules you’re working with. You may also consider a home loan modification as a way to keep your home.
You may be able to keep your car depending upon the amount of equity you have in it. Like a homestead exemption, the law allows you to keep a certain amount of value in your car. Depending upon the type of bankruptcy you pursue, and how much equity you have, you may be able to keep your car.
In a typical Chapter 7 bankruptcy case, the process may take several months to resolve before a judge will grant a discharge of your debts. Under a Chapter 13 bankruptcy, it can take several months to get through the court process. The duration of your repayment plan then follows that. These plans typically last three or five years, depending upon your needs.
Keep in mind that the amount of time in each case will vary and depend upon your case’s unique facts. To learn more about how long your bankruptcy case could take, talk with an attorney from Weaver Law Firm today.
Talk to a Georgia Bankruptcy Lawyer Now
If you’re considering bankruptcy, contact Weaver Law Firm today. Our North Georgia bankruptcy attorneys have more than 20 years of experience handling all types of bankruptcy cases. We will guide you through the bankruptcy process and help you make the decisions that are best for your particular situation.
To learn more about how we can help you through bankruptcy, get a free consultation from our attorneys. Call us or contact us online now.