Why file Chapter 7? Why not file Chapter 13? There are benefits for each, especially if you’re in trouble financially. Perhaps the most important decision you make will not be between forms of bankruptcy, but who you choose to help you. This guide shows you how to hire and work with a Georgia Chapter 7 bankruptcy lawyer.

Who can help?

You need a lawyer. While some get a bad reputation for gouging clients, there are many respected, reputable, and honest lawyers who can help you.

Why hire a lawyer?

A Georgia bankruptcy lawyer is essential in filing for either Chapter 7 or Chapter 13. Consider how much time and money you’ll save by filing Chapter 7, subtract that from the price of filing and lawyer fees, and you’ll see how good a deal this is. A lawyer can work with you to discharge the most debt, protect your assets, advise you on any problems you might have, and stop creditor harassment.

How much will it all cost?

Typically Georgia bankruptcy lawyers charge a flat rate for the estimated time, especially in Chapter 7. This process is relatively fast. You might pay $1,000 to $2,000 for an experienced lawyer. It may sound like something you can save money on – by hiring a cheaper lawyer – but in order to have success, you need talent, experience, and time from your lawyer.

Why file Chapter 7 in Georgia?

Chapter 7 has many advantages, especially in the state of Georgia where the economy is only starting to get back on track after thousands of job losses, foreclosures, credit card debt rates, and medical debt. If you have little to no income coming in, and thousands if not tens of thousands in debt, you can discharge this debt fairly simply. The main reasons to file Chapter 7 are credit, medical, and mortgage debts.

Why not Chapter 13?

For Georgia home owners, working with a bankruptcy lawyer may instead be filing for Chapter 13. Chapter 13 is also beneficial, and your lawyer may advise it. In some cases where you make too much money, you have to file this way. In others, you can save your home from foreclosure.

Closing Thoughts

A professional Georgia bankruptcy lawyer helps you before, during, and after a bankruptcy. You can save a lot of time and money by hiring an experienced one from the start. Be clear on your needs, consult with more than one lawyer before hiring, and find one who fits your budget.

Jacob Malewitz recommends http://www.GeorgiaDebtLaw.com for Georgia residents interested in filing successfully filing Chapter 7 and Chapter 13 bankruptcy.

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How to Work With a Chapter 7 Bankruptcy Lawyer is a post from: Bankruptcy Court Online

Does Bankruptcy Take a Toll on My Credit?
Your credit will take a hit with any filing for bankruptcy. However, your personal financial recovery plan should include gradually developing credit after the bankruptcy is completed. The timing of when this occurs depends on what type of bankruptcy you are filing. With Chapter 7, bankruptcy remains on your credit history record for 10 years. With Chapter 13, bankruptcy stays on your credit history record for 7 years. You need to check with a professional bankruptcy attorney to determine which one is more suitable to your situation and needs.

Will I Lose My Job?
No, you shall not lose your job after filing Bankruptcy. It is illegal for employers to discriminate against you for filing bankruptcy. Furthermore, unless an employer specifically searches for bankruptcy filings, then your employer (or potential employer) shall not find out. This is an instant relief for some who wish to keep the negative financial situation private.

What Happens to Student Loans?
In most cases, student loan debt is not dischargeable in bankruptcy court meaning you will have to repay them. There is an exception to this statute. For you are able to discharge the student loan if by paying, it you would be considered an “undue hardship” on the borrower. Nevertheless, do not get your hopes up. It is extremely challenging to prove and bankruptcy courts are the ones who have the final say.

Will I Lose My Car?
Depending on what state you live in, there may be an automobile exemption rule allowing you to keep the vehicle. On average, the ability to keep or lose a car is determined by how much the car is worth in comparison to how much you owe on it. You need to ask a professional. For a Chapter 7 filing may cause the court appointed bankruptcy trustee to liquidate it.

What about My House?
Under bankruptcy, law, your house has a separate set of rules. For under Chapter 13 bankruptcy, your house will be preserved and the courts shall let you live in it throughout the entire process. It is vital to check with a professional before filing for any bankruptcy ensuring you have a greater understanding of what is possible under what type of filing, and which filing you shall benefit from the most.

Bankruptcy is a tricky situation. There are many stipulations that are standard across the nation, but it is essential to note that there are also legal rules varied by state. Find someone in your own area who is able to answer your questions accurately. Ask for references. Hire an experienced professional who has ample knowledge about bankruptcy proceedings and is able to guide you throughout the entire procedure is completed.

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Common Bankruptcy Questions Answered is a post from: Bankruptcy Court Online