Best Bankruptcy Lawyers in Atlanta

About Bankruptcy Law in Atlanta, United States

Bankruptcy law is designed to help individuals and businesses that are unable to repay their debts. It provides a legal process for debtors to either eliminate or restructure their debts while providing creditors with a fair opportunity to recover some or all of their money. In Atlanta, United States, bankruptcy cases are handled by the federal court system.

Why You May Need a Lawyer

Filing for bankruptcy can be a complex and overwhelming process. It is highly recommended to seek legal representation when considering bankruptcy. A lawyer specializing in bankruptcy can:

• Assess your financial situation and determine if bankruptcy is the right option for you.
• Help you understand the various bankruptcy chapters (such as Chapter 7 and Chapter 13) and their implications.
• Prepare and file the necessary bankruptcy paperwork on your behalf.
• Represent you in court hearings and negotiations with creditors.
• Provide guidance and support throughout the entire bankruptcy process.

Local Laws Overview

Bankruptcy laws in Atlanta, United States are governed by federal statutes, but there are certain aspects that may vary at the local level. Key aspects of local bankruptcy laws in Atlanta include:

• Exemptions: Atlanta has specific exemptions that determine which assets you can keep during and after bankruptcy. These exemptions protect certain property from being liquidated to repay debts.
• Means Test: To determine if you qualify for Chapter 7 bankruptcy, Atlanta uses a means test that compares your income to the median income in the area. If your income is below the median, you may qualify.
• Court Procedures: The bankruptcy court procedures in Atlanta, including the necessary documentation, filing deadlines, and court hearings, follow the guidelines set by the federal bankruptcy laws.

Frequently Asked Questions

1. Can I keep my house and car if I file for bankruptcy?

Whether you can keep your house and car depends on the bankruptcy chapter you file under and the equity you have in these assets. Exemptions may allow you to keep certain property, but it's important to consult with a bankruptcy lawyer to understand your specific situation.

2. Will bankruptcy ruin my credit score?

Bankruptcy does have a negative impact on your credit score and can remain on your credit report for several years. However, it also provides a fresh start to rebuild your credit over time. With responsible financial practices, you can improve your credit after bankruptcy.

3. Can I continue to use credit cards during bankruptcy?

No, it is generally advised to stop using credit cards once you decide to file for bankruptcy. Any charges made with the intention of not repaying them may be considered fraudulent and can complicate your bankruptcy case.

4. How long does the bankruptcy process take?

The duration of the bankruptcy process varies depending on the type of bankruptcy and the complexity of your case. Chapter 7 bankruptcy typically takes around 3-6 months to complete, while Chapter 13 bankruptcy can take 3-5 years since it involves creating a repayment plan.

5. Can student loans be discharged through bankruptcy?

Typically, it is difficult to discharge student loans through bankruptcy. They are classified as non-dischargeable debts, except in cases where repaying them would cause undue hardship. However, it's best to consult with a bankruptcy attorney for advice specific to your circumstances.

Additional Resources

Here are some additional resources that can assist you in understanding and navigating bankruptcy in Atlanta, United States:

• United States Courts - Bankruptcy Basics: https://www.uscourts.gov/services-forms/bankruptcy/bankruptcy-basics
• Georgia Bankruptcy Court: https://www.ganb.uscourts.gov/
• Atlanta Legal Aid Society: https://atlantalegalaid.org/

Next Steps

If you need legal assistance in bankruptcy, follow these steps:

1. Research and find bankruptcy lawyers in Atlanta who specialize in bankruptcy law.
2. Schedule a consultation with a few lawyers to discuss your situation and evaluate their expertise.
3. Select a lawyer who understands your needs and has a successful track record in handling bankruptcy cases.
4. Work closely with your chosen lawyer to gather the necessary documents and information for your bankruptcy filing.
5. Follow their guidance throughout the bankruptcy process, attending court hearings, and providing all required information.