Atlanta Bankruptcy Attorney
Are you considering filing for bankruptcy?
More and more people in Georgia are considering the possibility of filing for bankruptcy because of the struggling economy and job market. People who have worked hard their entire lives are suddenly finding themselves unable to keep up with basic bills and one emergency is enough push them over the edge. If you have found yourself in this situation, your first choice should be to get in touch with an Atlanta bankruptcy lawyer from our team at the Stadler Law Group, LLC. We have over 20 years of experience in practicing law and will do everything possible to find the best resolution for you. Whether bankruptcy is the right choice for you or you could take advantage of a bankruptcy alternative, we will do everything possible to ensure that your rights are protected every step of the way. Look through the rest of our bankruptcy site for more helpful information.
Top 10 Bankruptcy Myths
When it comes to bankruptcy, there are many myths and common misconceptions. Some common myths are that your credit will not be able to be repaired, that all of your debts will be discharged, or that you will lose all of your property during bankruptcy. If you have questions regarding bankruptcy, a member of our team could examine your case and let you know what your options are.
The Basics of Chapter 7
What exactly is Chapter 7 bankruptcy? This bankruptcy is one of the more common types of bankruptcy and is known as liquidation bankruptcy. In Chapter 7 bankruptcy, your unsecured debts are liquidized in order to repay your debts. Some of your possessions will be exempt, so it does not mean that you will lose everything you own. It also means that an automatic stay will occur so that creditors will not be allowed to contact you.
Chapter 7 Procedures
If you are considering filing for Chapter 7 bankruptcy, it is important that you are aware of the bankruptcy procedures. The first step of beginning the bankruptcy process is to complete credit counseling. Next, your case will be filed with the bankruptcy court and your creditors will be notified regarding your case. A trustee will also be appointed who will be in charge of managing your case.
The Basics of Chapter 13
Another common type of bankruptcy is Chapter 13 bankruptcy. This may be a good option for you if you were not eligible for Chapter 13 bankruptcy or if you do not want to liquidize your assets. Chapter 13 bankruptcy acts in much the same way as a debt consolidation. A three to five year plan is created in which you pay off your debts on a monthly basis.
Chapter 13 Procedures
There are similarities between filing for Chapter 7 bankruptcy and filing for Chapter 13 bankruptcy. First of all, before you begin the filing process, you will have to complete credit counseling. Once you do file, your creditors will not be allowed to contact you regarding your debt and a trustee will be appointed to oversee your case. A hearing will then take place and after that you will be able to start making payments according to your plan.
Chapter 7 vs. Chapter 13
So what are the differences between Chapter 7 bankruptcy and Chapter 13 bankruptcy? One of the biggest differences is that under Chapter 7 bankruptcy, a lot of your assets may be liquidized. In Chapter 13, you get to keep your assets, but you will spend the next three to five years repaying the loans.
Bankruptcy During a Divorce
What happens if you are filing for divorce and are also experiencing financial difficulties? Cases do arise where couples are seeking to file for a divorce and for bankruptcy at the same time. Although resolving these cases is not impossible, it does make it more complicated. If you are considering filing for bankruptcy and a divorce, it is important that you have a legal advocate on your side who has experience in handling these types of cases.
It is important to remember that bankruptcy laws change over time. A major change to bankruptcy law took place in 2005 and it affected different people in different ways. This being said, having a legal representative handling your case who is up-to-date in changes in law is imperative. Should you choose to work with us, you will be able to have confidence knowing that your case is in good hands.
At the Stadler Law Group, LLC, we understand that filing for bankruptcy can seem like you are accepting failure. This, however, is not true as bankruptcy is actually designed with the debtor in mind. Not only that, but there have been many celebrities throughout the years who have had to file for bankruptcy due to circumstances out of their control. Filing for bankruptcy is a chance at a clean slate, not a sign of failure.
Learn How to Rebuild Your Credit
After filing for bankruptcy, you will be able to begin rebuilding your credit. While it is true that filing for bankruptcy can negatively affect your credit score, this damage is not permanent. In order to begin to rebuild your credit, the first step will be to secure employment if you do not already have a job. Using your credit card and repaying it on time also helps your credit score.
Debt Collection Harassment
One common problem that people face is harassment from their creditors. When you owe someone money that you are not able to repay, having creditors constantly calling you to demand their money does not help the situation. There are laws in place, such as the Fair Debt Collection Practices Act, which were created to protect debtors from unfair treatment. You could even file a lawsuit against the creditor if you have been treated in this way.
Are you considering filing for bankruptcy? Are you unsure as to whether or not it is a good option for you? Our team has come up with some red flags to be on the lookout for which could be pointing to the necessity of bankruptcy. First of all, if you are not making enough to live on and are falling deeper and deeper into debt, it could be a sign that bankruptcy is the right option. Also, if you are paying the minimum on credit cards or your credit cards are maxed out, this could also be a warning sign that bankruptcy could help.
Avoid Balance Transfers
If you are considering balance transfer debt, we highly encourage you to talk to our firm first. While it may seem like a quick and easy way to avoid bankruptcy, it could actually leave you in a worse place than you were first in. It is important to carefully look into the company offering the balance transfer debt first to make sure there are no hidden fees or devastating loopholes.
What should you do if the majority of your loans are debt from college? You need to realize that when it comes to student loans, there are different regulations that you will have to meet and different processes you will have to go through. Just because you have student loans, however, does not mean that your case is hopeless; by contacting our firm, we could find a solution that works for you.
At the Stadler Law Group, LLC, we are dedicated to doing everything in our power to make this process as easy for you as possible. One way that we do this is through an online secure data entry program called Rapid Import. It helps us get the information needed to help you file for bankruptcy quickly and easily.
The process of filing for bankruptcy can be difficult and we understand that there will probably be many questions on your mind. We have put together some frequently asked questions so that you can find the information you need. If you would like to discuss your specific case, you can contact our office at any time. Our goal is to help you find a successful resolution to your situation.
Contact an Atlanta bankruptcy lawyer from our team!
If you have questions regarding bankruptcy and what the best option would be for you, please do not hesitate to get in touch with a member of our team. We will look over every aspect of your case and seek to determine what the best choice for you would be. Bankruptcy could be an opportunity for you to start again with a clean slate, an opportunity for a second chance. Who you choose to handle your case could be the most decision in regards to your financial situation as it could drastically affect the outcome of your case. If you would like to determine if we are the right choice for you, please call our office as soon as possible to schedule a consultation. Contact an Atlanta bankruptcy lawyer today for a free consultation.