North Carolina Finance

Jul 3 2018

Atlanta Bankruptcy Lawyer – Atlanta Chapter 7 Bankruptcy Attorney – The Law Offices of Betty

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Atlanta Bankruptcy Attorneys

We practice bankruptcy law because we believe that the legal profession is one that was built upon the spirit of public service, fairness, and integrity. To us, being lawyers means that we can serve and advocate for individuals who cannot always stand up for themselves. That is why we strive to serve clients honestly, ethically, and zealously, no matter how big or small the matter is.

We make sure that we fulfill our duties to our clients by making sure you always receive straightforward and honest advice based on your specific circumstances; offering equitable and reasonable fee structures; ensuring that your case is personally handled by an attorney; and, giving you quality representation and advocating for your best interests.

Here are some of the bankruptcy matters that we handle:

  • Garnishments;
  • Foreclosures;
  • Chapter 7 bankruptcy;
  • Chapter 13 bankruptcy; and,
  • Debt settlement.

What is Bankruptcy?

Bankruptcy is a legal vehicle by which individuals or corporations can consolidate or discharge their debts that they are unable to pay. Bankruptcy was enacted as a federal law to allow such debt relief.

The filing of a bankruptcy case with the assistance of an Atlanta bankruptcy lawyer initiates what is known as a “stay,” which is a court order that protects debtors from creditor collection actions. Creditors may not seek payment of money or other property from the debtor.

There are two types of individual bankruptcies: Chapter 7 and Chapter 13. Chapter 7 is what is known as the liquidation chapter of bankruptcy. Debtors’ assets are subject to liquidation by a bankruptcy trustee, who is responsible for administering the case. Most individuals who file bankruptcy do not have assets that can be sold or liquidated because they have “exemptions” or protections for property that prevent such action.

Chapter 13 bankruptcy is the consolidation of debt into one monthly payment. Chapter 13 allows individuals to catch up on arrears for their mortgages, car notes, and other debts. Depending on income, a debtor can pay between 0 and 100% of his/her unsecured debts. The general rule of thumb for secured debts attached to property is that if you want to keep the property, then you have to pay for it. Both Chapter 7 and Chapter 13 provide interesting ways to lower interest rates on loans, change the status of a loan from secured to unsecured, and redeem property for fair market value. Bankruptcy is also a complex area of law that requires the assistance of an Atlanta bankruptcy attorney.

If you have a question about bankruptcy, we offer complimentary consultations with an attorney. Please call us at (404) 593-2620 to set up an appointment. We serve clients all over the state of Georgia, and our offices are in Atlanta.

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