Relief From Debt Through Chapter 7 Bankruptcy
Very few individuals borrow money that they don’t believe that they’ll be able to pay back. In fact, most creditors have developed safeguards to ensure that the money they lend only goes to those who are capable of repayment. However, sometimes circumstances change beyond one’s control. An illness, a divorce, lost employment or any number of other events can adversely affect your ability to repay your debt. There is an alternative, however, to the long and uncomfortable process of having your assets repossessed one by one or having to defend collection lawsuits.
Chapter 7 bankruptcy provides immediate relief to individuals who have fallen behind on their bills and are seeking a way to keep their lives intact. In fact, under certain circumstances, federal and state income taxes can be discharged in bankruptcy as well. The Law Office of Evan M. Altman provides financial advice for our northern Georgia clients who are facing economic challenges. Attorney Altman will meet with you to discuss your current financial predicament and determine whether or not you should file Chapter 7 or seek alternative methods of debt relief.
How Filing Chapter 7 Bankruptcy With An Attorney Works
When you meet with Atlanta Georgia, bankruptcy attorney Evan M. Altman, he will review your current financial situation: assets, liabilities (debt), income and expenses. You will be discussing your concerns and goals with a veteran bankruptcy lawyer with over three decades of experience. Attorney Altman will then determine whether or not you qualify for bankruptcy under Chapter 7’s means test. If you qualify, and it is determined that Chapter 7 is in your best interest, Attorney Altman shall file a petition with the federal bankruptcy court on your behalf. After a short time – typically within 120 days – you will emerge from bankruptcy without debt after being granted a discharge in bankruptcy and will have the ability to start over.
The Automatic Stay In Chapter 7 Bankruptcy
Once your creditors are made aware that you are in bankruptcy proceedings, they are unable to pursue you without a court-ordered exemption. This is known as an “automatic stay.” Once the stay is lifted, if your creditor’s debt was not discharged during the Chapter 7 bankruptcy, they can continue to attempt to collect repayment. The automatic stay, however, is able to temporarily stop foreclosure or auto repossession.
Contact A Qualified Bankruptcy Attorney
Because the legal requirements involved in successfully filing a Chapter 7 bankruptcy can be complex, you’re going to need the advice of an experienced Georgia bankruptcy attorney to represent you. For over three decades, the Atlanta-based The Law Office of Evan M. Altman has been representing individuals in northern Georgia in their bankruptcy proceedings. Contact us immediately by phone at 770-285-7134 or by email to determine whether or not Chapter 7 bankruptcy is the right move for you.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.