Last Updated on August 3, 2022 by
What does bankruptcy mean?
A bankruptcy declaration is a notification that a corporation, are unable to repay its debts to creditors. Bankruptcy in the United States is covered by federal law, which creates uniformity among the states. There are many types of filings in bankruptcy proceedings, and understanding which type is most suitable for your specific situation is essential. The best way to understand your rights and options is to speak to an attorney as soon as you consider filing for bankruptcy.
In response to your situation, an Atlanta bankruptcy attorney with broad experience in helping clients attain debt relief could examine your case and provide you with the guidance you need. A dedicated attorney may serve as your advocate throughout the bankruptcy process and defend your rights.
What kind of bankruptcy do people face?
An individual may be eligible for different bankruptcy procedures depending upon the facts of their case and how much income they earn. When a person desires to file for bankruptcy, their income plays a crucial role in their ability to carry out this particular action. An individual whose earnings fall below the amounts average Georgia households earn may declare bankruptcy. But if the person has a higher income than a Georgia average family, bankruptcy might be better suited.
The facts about Selecting a Georgia Consumer Bankruptcy Attorney
An attorney who knows how the law works and understands the rules and procedures in your local area will help you receive the best results when it comes to filing for bankruptcy. Berry & Associates identifies which type of bankruptcy is most appropriate for your financial situation, so you have everything taken care of from filing to confirmation and discharge. Investing in your assets and ensuring a brighter future allows you to protect your savings and address those issues that include divorce and others discussed below.
- If you don’t want to lose your home and car, then keep the most valuable things
- It would be best if you stopped salary garnishment and reductions from your paycheck
- Get rid of your debts, including your home’s taxes and second mortgage
- Your business’s future is at risk if you don’t protect it
- Don’t allow vehicles to be repossessed or homes to be foreclosed
- Creditors must stop harassing you with collection calls and letters
Read more: 3 Tips for Filing a Personal Injury Claim
