Bankruptcy in Atlanta
Are you having sleepless nights worrying about your mounting debt? Are creditors calling you or appearing at your door? Are all of your credit cards maxed out? Are you having trouble paying the minimum amounts on your credit cards? When debt becomes crushing, it is time to explore bankruptcy as an option to get you back on your financial feet. The good news is that usually your credit is better after filing bankruptcy in Atlanta because you are out from underneath your overwhelming debt. Once your debt is gone, you should be able to obtain credit quicker than if you still owed many thousands of dollars. A skilled bankruptcy attorney in Atlanta can help you decide if bankruptcy is right for you and can help you decide what type of bankruptcy in Atlanta is best for your situation.
Types of bankruptcy
Your experienced bankruptcy lawyer can help you decide whether to file bankruptcy in Atlanta. Your attorney can also advise you on the best type of bankruptcy for your particular situation. The types of bankruptcy commonly filed include the following:
- Chapter 7: Called Straight or Liquidation Bankruptcy, Chapter 7 is generally for people with few assets and who lack the ability to repay debt.
- Chapter 13: Called a Wage Earner Bankruptcy, Chapter 13 is geared to debtors who have more assets and who have the means to follow a repayment plan.
- Chapter 11: Chapter 11 allows businesses to restructure debt payments and keep assets. Companies usually choose to file Chapter 11, because they expect their long-term revenues to be higher than the liquidation value of their assets. Creditors can get more money back if they allow the debtor business to reorganize and adopt a business work out payment plan.
Bankruptcy is a complex legal process, and many people find it easier and less stressful to allow an experienced bankruptcy lawyer in Atlanta to handle the paperwork and meet the filing deadlines. Your attorney can also discuss the alternatives that exist to bankruptcy, as well as advise you of the exemptions that may apply to your situation.
Our bankruptcy lawyers in Atlanta can help
A lawyer skilled in Atlanta bankruptcy laws is your wisest choice if you are considering any type of bankruptcy. Contact the Law Offices of Michael R. Rethinger, LLC or call 888-552-8180 for answers to all your questions about bankruptcy law in Atlanta.
