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Unable to keep up with your bills? Do creditors and collection agencies constantly harass you? Are collection agencies going after your business? Depending on the circumstances, bankruptcy may be the answer to your monetary woes. At Schuyler Elliott & Associates, Inc., our Atlanta bankruptcy lawyer can guide you through filing for bankruptcy and get you on the road toward a fresh financial start. Backed by more than two decades of experience, we can help evaluate your financial situation and determine a bankruptcy strategy that best fits your individual needs.

Get in touch with our Atlanta bankruptcy attorneys online or call (770) 400-9102 to review your legal options. Start a free initial consultation

Types of Bankruptcy in Atlanta

Two types of bankruptcy are offered to consumers to eliminate their debt: Chapter 7 and Chapter 13. Since both have advantages and drawbacks, you must analyze your income, assets, and debts with our bankruptcy lawyer in Atlanta to determine which option would better suit your situation.

What is Chapter 7 Bankruptcy?

Also known as liquidation bankruptcy, Chapter 7 is the process of selling off your non-exempt liquid assets in order to satisfy your creditors, with any remaining unsecured debts being discharged. Chapter 7 bankruptcy is a means-based privilege, meaning it is only available to those whose income is low enough to file.

What is Chapter 13 Bankruptcy?

Chapter 13 bankruptcy involves a reorganization of your assets and finances to pay back creditors over a period of three to five years. This method can allow you to keep your home, your vehicle, and avoid foreclosure. Most remaining unsecured debts are forgiven if you adhere to your court-approved repayment plan.

What is Chapter 11 Personal Bankruptcy?

If you don't qualify for Chapter 13, you can file for Chapter 11. Note that filing under Chapter 11 is more complicated and more expensive compared to 7 or 13.

You may file for Chapter 11 if you have no income but have assets to sell to fund your Chapter 11 plan. With this option, an automatic stay will be in place, which will help delay collection lawsuits and allow you to negotiate repayment with your creditors.

Under Chapter 11, you must propose a reorganization plan, allowing you to save essential assets while repaying your debts with your available income over time. After that, the bankruptcy court and your creditors will vote on it. If the court believes your plan is reasonable and the creditor object, you may be able to “cram down” a plan over them. If you cannot stick to the program, you will be responsible for paying any outstanding debts.

Unsure of which bankruptcy option is right for you? Call (770) 400-9102 or contact us online for a complimentary case evaluation with an attorney. Our bankruptcy lawyer in Atlanta help you decide which option is right for you.

Can I Protect My Home and Assets During Bankruptcy?

You can keep your property and other assets safe during the bankruptcy process depending on the type of bankruptcy you file, your individual financial circumstances, and the exemptions that apply. Individuals can file for bankruptcy under Chapter 7 or Chapter 13.

Your non-exempt property may be liquidated to satisfy your debts in Chapter 7, but Georgia law provides exemptions that allow you to protect some assets, such as your house and necessary personal property, within specific restrictions.

Chapter 13 requires developing a debt repayment plan. This strategy may allow you to keep your house and possessions while repaying creditors gradually over time.

Understanding and applying Georgia's exemption laws is crucial for protecting your property during bankruptcy. Consult with a knowledgeable bankruptcy attorney in your area at Schuyler Elliott & Associates, Inc. to verify your exemption status and the best course of action based on your specific situation.

How Can Bankruptcy Help Me?

Not only can bankruptcy provide a means to overcome your debt, but it can also provide much-needed relief from creditor harassment and other collection efforts through a court injunction known as an automatic stay. The key to maximizing these benefits lies in filing for the correct chapter, depending on your circumstances.

Why Choose Our Atlanta Bankruptcy Lawyers

When financial challenges become overwhelming, it's reassuring to know that experienced and compassionate help is available. Schuyler Elliott & Associates, Inc. is your trusted ally in navigating the complex landscape of bankruptcy law in Atlanta.

Extensive Experience: With a deep understanding of bankruptcy law, we've been helping individuals and businesses find financial relief for years.

Personalized Solutions: We believe in personalized approaches. We'll work closely with you to tailor a strategy that meets your unique needs.

Proven Success: Our track record speaks for itself. We've guided countless clients through challenging financial times and helped them achieve a fresh start.

Start a Free Consultation at Schuyler Elliott & Associates, Inc.

Facing financial hardship can be overwhelming, but you don't have to navigate it alone. Schuyler Elliott & Associates, Inc. is here to guide you toward a brighter financial future. We'll work with you to determine the best course of action and provide support every step of the way.

At Schuyler Elliott & Associates, Inc., our lawyers believe that nobody should have to face the stress and uncertainty of debt alone. Our highly skilled bankruptcy attorney understands the gravity of your situation and is prepared to stand by your side every step of the way. We want to see you achieve financial independence, and we are dedicated to doing everything we can to protect your rights. With 24/7 availability to answer your questions, your case will surely be in excellent hands. Reach out to a Atlanta bankruptcy lawyer today.

Take the first step towards reclaiming your financial future and speak with a bankruptcy attorney in Atlanta during a free consultation.

Commonly Asked Questions

What is bankruptcy?

Bankruptcy is a legal process that allows individuals or businesses to eliminate or repay their debts under the protection of the bankruptcy court.

How do I know if bankruptcy is the right option for me?

Determining if bankruptcy is the right option for you depends on your individual financial situation. It is recommended to consult with a bankruptcy lawyer who can evaluate your circumstances and provide guidance.

Will bankruptcy ruin my credit?

Bankruptcy can have a negative impact on your credit score and stay on your credit report for several years. However, it also provides an opportunity to rebuild your credit over time.

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