When a person gets in debt over his or her head, an overwhelming feeling comes and there seems to be no light in sight. Yet, one of the things that can be done is to file bankruptcy. Bankruptcy may seem like a failure or the end of one’s credibility financially. But it can be the beginning of a new direction for the life of the one going through it. If bankruptcy seems like a reasonable choice, the person who is filing should consult an attorney. There is an attorney who handles Bankruptcy Filing in Atlanta GA. These are some things to consider.
There are two basic types of bankruptcies that individuals use: Chapter 7 and Chapter 13. The first type is to wipe away all debts that are applicable and give the debtor a fresh start. The second type is a reorganization of the debtor’s assets, giving him or her an easier way to pay off all the debts over a period of time (usually three years). One thing is certain, filing bankruptcy will put a stop to all harassment from creditors and may even keep the debtor out of foreclosure or repossession.
Chapter 7 bankruptcy is the type that comes to the mind of most people when thinking about the term. A trustee is appointed to sell all the assets of the debtor and distribute to all creditors who have filed proper claims. The debtor gets to keep some property that will allow him or her a fresh start. To get started, records must be gathered, bankruptcy petitions, loan documents and other financial data. A bankruptcy attorney can help the debtor get all of this together.
Chris Carouthers & Associates, LLC have been providing debt resolutions for clients in Atlanta, Georgia and the surrounding areas for more than 12 years. The attorneys help clients with Chapter 7 bankruptcies, Chapter 13 bankruptcies, other kinds of debt relief solutions, and personal injuries. They can also call to schedule a free consultation. If any consumers are in need of attorneys for Bankruptcy Filing in Atlanta GA, the attorneys are available.
