BANKRUPTCY LAWYERS IN ATLANTA, GA
From credit cards to car loans, many Atlanta residents are experiencing financial distress. Some can pay off what they owe little by little. However, others quickly find themselves drowning in debt with no signs of getting out. Sometimes, bankruptcy is the only viable means of escape. If you’re considering bankruptcy and want to learn more, fill out this form for a free case evaluation.
Why Working With Bankruptcy Attorneys in Atlanta?
Choosing the right law firm can make all the difference in your case. In fact, the wrong approach can exacerbate financial struggles. First, you’ll need to find out if bankruptcy is even the right move. The Atlanta bankruptcy attorneys at Morgan & Morgan will look at your financial situation and determine the best course of action for your circumstances.
If you and your attorney conclude that bankruptcy is a good choice, you’ll also discuss which option to file under. A few of the most common options are as follows:
Ideal for those who wish to wipe the slate clean, Chapter 7 bankruptcy (also known as liquidation bankruptcy) can be called upon to eliminate most unsecured debts. However, this approach isn’t for everybody. Often, it forces debtors to let go of their assets, such as vehicles, jewelry, and artwork. Another key consideration is that not everybody qualifies for Chapter 7 bankruptcy. Your attorney can help you determine your eligibility by taking a means test.
If you don’t qualify for Chapter 7, or want to take a more moderate approach, Chapter 13 could be for you. Also known as the wage earner’s plan, this option involves submitting a payment plan for approval from the court. Following approval, you’ll receive information indicating the time and resources needed to pay off your debt. Typically, you have between 3-5 years.
Chapters 11 and 12
If you run a business or work in agriculture, you may be eligible for an alternative approach to Chapters 7 and 13. Common alternatives include Chapters 11 and 12.
Primarily designed for business owners, Chapter 11 is often referred to as reorganization bankruptcy. As with Chapter 13, this approach allows you to reorganize your debt to ensure your ability to pay it off over time. However, if your business is purely agricultural, you’ll likely file for Chapter 12 bankruptcy, which is designed for family farmers and fishers.
Morgan & Morgan: Seeking Help From Trusted Bankruptcy Lawyers in Atlanta
No matter what type of bankruptcy fits your situation, it’s crucial to have the right legal representation on your side. All law firms are not the same. Morgan & Morgan has been fighting for the interests of people just like you for more than 30 years. We treat every client like family and treat their cases personally, ensuring the best service possible. The Atlanta bankruptcy lawyers at Morgan & Morgan can guide you towards an outcome that alleviates your financial burdens.
Don’t go through this alone – you and your family deserve a fresh start. Contact Morgan & Morgan today to get started with your complimentary case evaluation.