Filing for personal bankruptcy in Georgia is a good decision in many instances, but it is not a decision that should be taken lightly. The legal system is in place to protect us, and when Georgia bankruptcy law is utilized properly, it can make an impossible financial situation manageable, save your house and your car, and even wipe away all of your debt permanently. It is no secret that the key to making the legal system work for you is the right representation, so it is important to work with a Georgia bankruptcy attorney who knows the system inside and out.
David Judah has the experience and expertise that it takes to prepare the Georgia bankruptcy strategy that is appropriate for your specific financial situation. Whether you are facing debt collection, foreclosure, auto repossession, unmanageable credit card debt, tax bills, student loans, child support, or medical bills that you simply cannot pay, David Judah can help. We can recommend a Georgia Chapter 7 discharge plan or a Chapter 13 restructuring that will satisfy your creditors, save your property, and restore your peace of mind.
There are those who feel uncomfortable discussing debt discharge or restructuring with a Georgia bankruptcy lawyer, but in reality, pro-actively seeking a legal solution to the situation is the responsible thing to do. As seasoned Georgia bankruptcy attorneys we know more than anyone that bad things can happen to good people. We make no judgments, because a financial hardship can befall any one of us without notice. Georgia bankruptcy laws are there to provide solutions, and it is our business to advocate your rights under these laws.
We are the Georgia bankruptcy attorneys you can count on to vigorously advocate your interests and guide you through the Georgia bankruptcy process with minimal encroachment on your time. We invite you to explore our site to learn more about bankruptcy in Georgia and the difference between Chapter 13 and Chapter 7.
Individuals who reside, have a place of business, or own property in the United States may file for bankruptcy in a federal court under Chapter 7 (“straight bankruptcy”, or liquidation). Chapter 7, as with other bankruptcy chapters, is not available to individuals who have had bankruptcy cases dismissed within the prior 180 days under specified circumstances.
In a Chapter 7 bankruptcy, the individual is allowed to keep certain exempt property. Most liens, however (such as real estate mortgages and security interests for car loans), survive. The value of property that can be claimed as exempt varies from state to state. Other assets, if any, are sold (liquidated) by the interim trustee to repay creditors. Many types of unsecured debt are legally discharged by the bankruptcy proceeding, but there are various types of debt that are not discharged in a Chapter 7. Common exceptions to discharge include child support, income taxes less than 3 years old and property taxes, student loans (unless the debtor prevails in a difficult-to-win adversary proceeding brought to determine the dischargeability of the student loan), and fines and restitution imposed by a court for any crimes committed by the debtor. Spousal support is likewise not covered by a bankruptcy filing nor are property settlements through divorce. Despite their potential non-dischargeability, all debts must be listed on bankruptcy schedules.
A chapter 7 bankruptcy stays on an individual’s credit report for 10 years from the date of filing the chapter 7 petition. This contrast with a chapter 13 bankruptcy, which stays on an individual’s credit report for 7 years from the date of filing the chapter 13 petition. This may make credit less available and/or terms less favorable, although high debt can have the same effect. That must be balanced against the removal of actual debt from the filer’s record by the bankruptcy, which tends to improve creditworthiness. Consumer credit and creditworthiness is a complex subject, however. Future ability to obtain credit is dependent on multiple factors and difficult to predict.
David Judah specializes in bankruptcy law, giving you access to the most qualified bankruptcy related legal assistance available. The Bankruptcy Reform Act of 2005 made sweeping changes to filing requirements and eligibility standards, making it harder to qualify and more difficult to file.
Now, more than ever before, finding an attorney that knows all the ins and outs of the bankruptcy system is vital to winning your case. You should only rely on the advice of a quality bankruptcy attorney, like David Judah.