Bankruptcy

Crushing debt and the feeling of being unable to pay your bills can lead you to look for a way to reduce or eliminate your debt. All bankruptcy cases are handled by federal courts, though states have some control over portions of the process. This can make the process of filing for bankruptcy seem just as insurmountable as your pile of bills. Understanding the aspects of Chapter 7 vs Chapter 13 is critical for your success in the bankruptcy process. As you begin researching your bankruptcy options, you will see that you may have multiple options. As an individual, you can [...]

Bankruptcy is primarily controlled by federal law, with all bankruptcy cases heard in a federal court. However, each state does have its own rules and procedures. Below we will outline steps to filing bankruptcy as well as how bankruptcies work in Georgia. Bankruptcy Options in Georgia Understanding how bankruptcies work can be very complex. If you cannot keep up with your bills and believe that bankruptcy is your best option, you still have decisions to make. The primary decision to make is which form of bankruptcy to file. Chapter 7 and Chapter 13 bankruptcies are most common for consumers. An experienced [...]

How Much Will Bankruptcy Cost You? If you are currently overwhelmed by debts and other financial obligations, you may be considering bankruptcy. This makes sense since the intent of bankruptcy is to help you take care of your debts and other financial obligations while getting back on your feet financially. However, there is a cost to bankruptcy. Not only will you have to pay attorney fees, but there are other expenses, as well. Continue reading as we answer the complicated question "how much does bankruptcy cost?". Chapter 7 Bankruptcy Costs Once you decide to pursue Chapter 7 bankruptcy, your path to [...]

The Benefits of Debt Relief Programs Debt relief can have a dramatic impact on your debt, allowing you to get back on your feet more quickly. However, it is not a magic wand. Debt relief programs are not the right financial solution for everyone, which means you need to understand the consequences before diving in. Debt relief programs could come in the form of a bankruptcy, changing your interest rate to lower your payments, or asking creditors to accept a partial settlement instead of the full amount you owe. All of these options can have an effect on your credit. When [...]

When you are considering bankruptcy, you may come across the term ‘Alternative Debt Resolution.’ Do you know what that means? Alternative debt resolution is when an outside, impartial person attempts to help resolve your debt with your creditors for you. This can happen in a variety of ways, and it is an option for some people, but may not work for everyone. Steps to Successful Alternative Debt Resolution Liquidate Assets This is not an option that many people want to consider because it means losing property. However, it can be of great assistance and may not hurt as much as you [...]

Why a Bankruptcy Attorney Can Help Save You Money The number of people filing for bankruptcy has reached its lowest point since 2007. However, experts believe this has more to do with factors other than an increased ability to pay off debts, though a stronger economy is likely still a factor. One key reason for the decrease in bankruptcy filings could be that consumers simply believe they can not afford to pay the legal fees they would incur if they filed. If you are facing bankruptcy, paying an attorney for assistance may seem impossible, given your difficult financial situation. However, a [...]