Filing for Bankruptcy in Atlanta is a long process and can be complex. First, you need to decide whether bankruptcy is the right thing for you to do as you might want to seek credit counseling from a lawyer which will help you to decide whether bankruptcy is the right route for you to take.
The average person who files for bankruptcy is someone who has difficult economic circumstances and often has large amounts of credit card debt. Then on top of that they will face the loss of a job, or an injury, divorce or uninsured medical expenses which will lead to a mountain of debt which they are simply unable to pay.
This is where the law on bankruptcy comes in as it is designed to help people who need help in making a clean break and having a fresh start in their lives without this debt to pay.
However, even if you are in this situation in Atlanta, you may not need to declare yourself bankrupt, as under the Exemption Laws of Georgia, you may already be “judgment-proof.” This means that unsecured creditors such as credit card companies cannot seize your assets if they are exempt. However this will not protect you against tax debts or child support. Nor will it protect you against loans such as a mortgage or a car loan where the lender can simply take your home and your car regardless of the law.
Before you make the decision to file for bankruptcy versus the other alternatives you should carry out a thorough, systematic review of your income, debts, and property and ideally hire an Atlanta bankruptcy lawyer to advise you. If they feel that bankruptcy is the right move for you to make then they can advise which type of bankruptcy is the best for you.
