About Bankruptcy in Atlanta
Bankruptcy is a legal method of eliminating debt and providing a means for debt-oppressed people to obtain a "fresh start." In many cases, bankruptcy means the elimination of the debt that you owe to your creditors. They are two primary forms of bankruptcy, Chapter 7 and Chapter 13.
Why is it legal to file bankruptcy?
More so than in any other time in our country's history, our economy is based on consumer debt. In fact, in this age of multibillion dollar corporate bailouts, easy credit and relentless bombarding of seductive messages cajoling us to "charge, consume, buy" it is not surprising that so many people are drowning in debt.
For many of us, this debt is insurmountable and is causing family problems and feelings of hopelessness and even suicide. With credit card interest rates of 18-27%, many feel like modern day indentured servants. Many times, the debt is occasioned by unforeseen events such as loss of a job or medical bills, but more often it is simply poor planning. Nevertheless, in instituting our bankruptcy laws, Congress recognized that responsible, well-intentioned people could from time to time run into financial problems. By allowing you to recover from your debt burden you will be able to start afresh, look to the future and become a more productive member of society. This is good for you and good for society as a whole.
Should You File?
- Is your property going to be foreclosed on?
- Is the repo man looking for your car?
- Are your creditors harassing you?
- Do you owe medical bills?
- Do you have any judgments against you?
- Are you having IRS problems?
If you answered "yes" to any of the above questions, you should consider filing bankruptcy. Sometimes average people find themselves in out-of-control situations, like losing a job, losing a loved one or having a serious illness, which keeps them from paying the debt that they have incurred. This may be at the fault of no one, but it is reality.
A Second Chance. For most people, filing bankruptcy is considered the last resort, but actually it could provide a "second chance". Filing bankruptcy can relieve stress and provide the opportunity to rebuild your life, your finances and strengthen your family.
Debt Counseling. Some clients have already tried consumer debt counseling and have paid hundreds of dollars every month to a debt consolidation company, who will in turn pay their debts for them. Statistics have shown that at least 75% of the time, that process will fail and the person drops out of the debt management program, but only after they have paid out so much money on the debts that they will eventually bankrupt.
If you think that you need help because your debts are more than you can handle, give our office a call or e-mail us. We will be glad to speak with you about your individual situation, and schedule an appointment to assist you. Click here to find out how to contact us.
|
