Here To Listen And Help With Your Legal Issues
When creditors are constantly calling and harassing you regarding your debt, it can be very overwhelming and seem as if you don’t have a way out. I understand when your pay is garnished, you experience foreclosure, or your personal or business property is repossessed, it can have damaging effects on your financial status and well-being.
For over 20 years, I have listened to thousands of clients express their concerns. Below I have provided a number of frequently asked bankruptcy questions I address daily. Speak with me in a free consultation if you have additional questions.
Q: What Terms Do I Need To Know?
A: It is important to familiarize yourself with a few common terms used during the bankruptcy relief process.
- Creditor: The person or company that is owed money
- Debt: An obligation to pay money
- Debtor: The person who owes money
- Secured debt: Money owed for the purchase of some sort of property, such as a house, furniture or car
- Unsecured debt: Money owed with no property attached, such as hospital bills, credit card bills, and signature loans
- Stress: A destructive tension, anxiety, or worry
Q: What Do I Need To File Bankruptcy?
A: You will need to gather all documents with your contact information, address and account number on it, along with the following documents:
- Medical and credit card bills
- Car payments and mortgage statements
- Personal loans, furniture loans, rent-to-own contracts and little pawns
- The last two months of paycheck stubs
- The last two years of state and federal tax returns
- The last three months of bank statements for all of your accounts
- Any paperwork regarding lawsuits, garnishments, foreclosure or repossession
Q: What Is Chapter 13 Bankruptcy?
A: Chapter 13, debt consolidation or wage-earner bankruptcy, consists of the following:
- Chapter 13, debt consolidation or wage-earner: This type of bankruptcy combines your debts into one affordable payment. If you have income – but all of your creditors want payment at the same time and there is just not enough money to go around – this type of bankruptcy may solve your financial problems. Chapter 13 lowers the amount you pay creditors to an amount that you can afford in one payment. Generally, you keep your house, car, furniture and any other property.
Q: What Is Chapter 7 Bankruptcy?
A: Chapter 7 or liquidation involves the following:
- Chapter 7 or liquidation: This type wipes away unsecured debts. For secured debts, you pay under the original terms of your purchase contract, or you return the property and pay nothing. This type is very effective if you are current on your regular bills but have a large unsecured bill such as a past repossession, medical bill or foreclosure. This type is also very effective if you do not have many secured debts but a lot of unsecured debts.
Q: How Much Will It Cost To Talk To A Lawyer To Find Out About My Options?
A: Nothing. As a service to clients, I provide a free consultation. Many times, there are alternatives to bankruptcy. You just need to call me at 678-967-8980 to discuss your legal options.
Q: How Does Bankruptcy Stop Creditors From Calling All Of The Time And Harassing Me?
A: As soon as you file a bankruptcy, the federal court issues an order stopping all actions by your creditors. Creditors cannot call you. Creditors cannot call your family. Creditors cannot call co-signers. Creditors cannot call your job. Creditors cannot sue you. Creditors cannot even write to you. The bankruptcy court can and does punish creditors for violating its orders.
Q: How Does Bankruptcy Stop A Foreclosure Or Garnishment?
A: As soon as you file a bankruptcy, the federal court issues an order stopping all actions by your creditors. Creditors cannot sue you. The bankruptcy court can and does punish creditors for violating its orders.
Q: Will I Lose My House, Car Or Furniture?
A: No. In most cases, you can keep these items along with your sanity.
Q: Does It Cost A Lot To File Bankruptcy?
A: No. While a Chapter 13 case can be filed with only the filing fee and the first credit counseling fee, fees in Chapter 7 cases vary depending upon the size and complexity of the case. My firm will work with you in Chapter 7 cases, and the fees will vary depending upon the complexity and size of the case.
Q: What If I Am Nervous Or Worried About Court?
A: I will always be with you in court, and I will go over what you can expect in court.
Get Peace Of Mind: Call To Schedule A Free Initial Consultation
It is time you start to get a good night’s sleep again, and I can help you get there. Call my Griffin office today at 678-967-8980 or send me an email to talk about your legal options today.
I am a debt relief agent. I help people file for bankruptcy relief under the Bankruptcy Code.