BANKRUPTCY BASICS

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IS BANKRUPTCY RIGHT FOR YOU?
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STOP CREDITOR AND COLLECTION AGENCY HARASSMENT.
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STOP WAGE GARNISHMENT OR CAR REPOSSESSION.

STOP HOME FORECLOSURE.

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Speak With a Bankruptcy Attorney in Decatur, GA Today
If you are no longer able to meet your financial obligations to your creditors, you may be considering bankruptcy. By filing for bankruptcy, you are taking control of your financial future. If you are successful, the court will impose an order declaring your debts un-collectable, at which time you have the opportunity to make a fresh start. Contact us today to speak with an experience bankruptcy law attorney in Decatur, GA, serving clients throughout the Northern District of Georgia, including Cherokee, Clayton, Cobb, DeKalb, Douglas, Fulton, Gwinnett, Henry, Newton, Rockdale Counties.

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Bankruptcy Options
The two most common ways that Georgia residents pursue bankruptcy are called Chapter 7 Bankruptcy and Chapter 13 Bankruptcy. As an experienced bankruptcy attorney, I can review your financial situation and help determine which Chapter is best for you. Each option has different eligibility requirements and each will help you achieve different results. However, with the expert help of Brookhuis Bankruptcy, you will be on your way to a new, more manageable, financial future.

Chapter 7 Bankruptcy
Frequently known as “liquidation” or “straight bankruptcy,” a Chapter 7 bankruptcy is the most common form of bankruptcy and provides relief for those who are in debt. Eligibility for a Chapter 7 bankruptcy requires a determination that your monthly income is below the median for the household size and state that you live in. In most cases, you won't even have to liquidate any of the property that you already own. Filing a Chapter 7 bankruptcy immediately stops creditor calls and collection attempts as well as putting a temporary hold on the foreclosure process, which can buy you some time to relocate you and your family. Chapter 7 is the quickest form of bankruptcy and gives you a chance to begin rebuilding your credit almost immediately. Call (678) 390-8070 and speak with a proven Georgia bankruptcy attorney to see if a Chapter 7 bankruptcy is right for you.

Chapter 13 Bankruptcy
If you are unable to meet the requirements of a Chapter 7 bankruptcy, or you want to retain your home or car but have fallen behind on the payments, Chapter 13 may be the best option for you. You may also own property with unexempt equity that you do not want to liquidate to repay your debt. Chapter 13 bankruptcy allows Georgia residents to repay debt through a court approved payment plan in order to keep your home, car, and other property.  The determined payment plan will lower your payments and spread them out over a period of three to five years. Filing a Chapter 13 bankruptcy will immediately stop all creditor calls and collection attempts, putting a hold on any foreclosure or repossession attempts. Working with an experienced bankruptcy attorney during this process will help to ensure success.

Moving Forward
Contrary to what you may think, declaring bankruptcy does not mean that you will never be able to purchase a home or car again.  After a period of careful and intelligent use of credit, you can again be eligible for a mortgage. Also, a bankruptcy does not mean that your credit will be ruined. Once you declare bankruptcy, your debt will be little to none, and you will be in a better position to apply for loans because creditors know you can afford to make new debt payments. Find answers to other bankruptcy questions by visiting our FAQ page or calling our office at (678) 390-8070.

Declaring bankruptcy in Georgia is too serious to be handled by either yourself or a petition preparer. There are numerous factors and pitfalls to consider. Even if you think your case is a simple one, you risk jeopardizing your existing assets if you do not work with an experienced bankruptcy lawyer. Contact Brookhuis Law or CALL OR TEXT  (678) 390-8070, to get the Bankruptcy guidance that will lead you to a successful financial future.