A bankruptcy attorney in Lithonia, GA will guide their clients towards making the best choices for their financial situations. It can be stressful trying to figure out what to do when you’re faced with dozens of collection calls every day. Creditors will put pressure on their clients because they want to reap the money that they are owed. To avoid these uncomfortable debt laden circumstances, bankruptcy may be the best option. A consultation with a bankruptcy attorney is the first step in the right direction.
Chapter 7 bankruptcy
Chapter 7 bankruptcy is one type of bankruptcy that can be filed in Lithonia Georgia. When looking for a bankruptcy attorney, Lithonia, GA debtors should search for one that can provide the best service. They will guide the client towards taking a means test to determine whether they qualify for Chapter 7 bankruptcy. The means test will indicate whether or not their financial situation will allow them to file for this type of bankruptcy. Chapter 7 bankruptcy is often considered as a new slate with no debts left on the table. This is mainly true for unsecured debts but does not include government debt or federal student loans.
Chapter 13 bankruptcy
Chapter 13 bankruptcy is another option available to debtors. When consulting with a bankruptcy attorney, Lithonia, GA residents will want to find out whether or not they qualify for Chapter 13 bankruptcy. If they do qualify this means that they make enough money to cover their current financial obligations as well as to meet their past debts. With a Chapter 13 bankruptcy filing, a debt repayment plan will be made that will last between three and five years.
Is bankruptcy the best option for your needs?
One thing that a bankruptcy attorney can help figure out is whether or not bankruptcy will help to resolve your situation. If you’re trying to save your home but you do not have enough to pay the mortgage, bankruptcy may not help. This is why it pays to consult with a bankruptcy attorney Lithonia, GA professional before making any decisions.
Bankruptcy can help an individual to start over after overwhelming debt. It can be challenging to know what options are available to you in such a difficult situation, however bankruptcy may be just the solution you are seeking. At the law office of Chris Carouthers, you can have access to quality bankruptcy services.