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Marietta Bankruptcy Lawyer

Home » Areas We Serve » Marietta Bankruptcy Lawyer

Marietta City Chamber of Commerce

Photo courtesy: Marietta.gov

Many things that are out of your control can quickly devastate your finances, from losing your job to sustaining a health crisis. Even with the best budgeting, debt counseling, and financial responsibility, sometimes the debt is simply too massive to overcome. And while not a first resort of debt relief, many consider filing for bankruptcy.

If you are thinking about filing for bankruptcy, your first step will be to discuss your situation with a lawyer who can help you decide which option is best for you as well as help you file. Request a free consultation with a bankruptcy attorney in Marietta at Ghai Law Firm: 770-233-7474.

Is it time for me to start considering bankruptcy?

For a free legal consultation with a bankruptcy lawyer serving Marietta, call (770) 792-1000

Bankruptcy is not the right choice for everyone who is having a financial hardship. If a large portion of your debt includes things such as income tax, child support, and student loans, bankruptcy might not be a sound choice because those types of debts are non-dischargeable. Also, if you have yet to try other remedies such as debt counseling, increasing your income, and negotiating with your creditors, then those are the places to start.

If the following situations apply to you, it is generally a good indicator that it is time to start giving serious thought to filing for bankruptcy.

  • You cannot make the minimum payments on credit cards.
  • You are using one credit card to make payments on another.
  • The credit card companies have already jacked up your interest rates due to overdue payments.
  • You have considered taking out some of your retirement money or getting an equity loan just to pay your debts.
  • You have already taken on a second job to make ends meet and pay your debts off, but it is still not enough.
  • You have received notices of lawsuits from creditors.
  • You home is at risk of or is already in foreclosure, and/or your car is in danger of repossession.
  • The financial strain is taking a major toll your personal life. The stress is affecting your marriage and your job, and thoughts about debt are consuming far too much of your time.

What is difference between Chapter 7 and Chapter 13 bankruptcy?

Marietta Bankruptcy Lawyer Near Me (770) 792-1000

There are several significant differences between Chapter 7 and Chapter 13 bankruptcies. The chief difference between them is that with the former, you do not have to pay back your creditors; with the latter, you do, albeit at a negotiated lesser amount. Below are few more distinguishing characteristics of each type of action.

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Chapter 7 – Chapter 7 bankruptcies are also called liquidation bankruptcies because the trustee that the court assigns to your case will have to liquidate your nonexempt property to pay off your creditors. In a Chapter 7, you can opt to keep certain property, such as your home and your car and continue to pay on them if you so choose.

You must meet certain disposable income threshold qualifications in order to file a Chapter 7. Your lawyer can help you determine if you qualify. If all goes well and the courts discharge your debts, you could walk away debt free in three to six months.

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Chapter 13 – Chapter 13 bankruptcies are also called reorganization bankruptcies because the trustee will essentially reorganize your debt into a single debt repayment plan. With a Chapter 13, you get to keep all of your property, including both exempt and nonexempt. You have to pay back your debts, but oftentimes, your debts will be reduced. This type of bankruptcy allows you some breathing room so that you can catch up on your bills.

Most people only opt for a Chapter 13 if their income is too high to qualify for a Chapter 7, and in cases where they need to stop a foreclosure on a home. When all is said and done and your Chapter 13 case finalized, you will be locked into a three- to five-year debt repayment plan. When you have satisfied it, you will be done and debt free.

A Marietta bankruptcy lawyer can sit down with you and discuss the differences between Chapter 7 and Chapter 13 bankruptcies and which is best for your unique situation.

What are the downsides of filing for bankruptcy? What are the benefits?

When you file for bankruptcy in Marietta, it will stay on your credit report for up to ten years. A bankruptcy could lower your credit score, which could make obtaining loans and other lines of credit harder in the near future.

The benefits of claiming bankruptcy are notable. First and foremost, it can be the fresh start you need to regain peace of mind and control over your financial life. Creditors will stop harassing you and you will be able to sleep better at night.

If you have lawsuits pending against you for your debts, those cases will be dismissed, and if you have wage garnishments for non-exempt debts, those will cease as well. Also, if your home is in foreclosure, those proceedings will be delayed and potentially defeated so that you can keep your home.

Can Ghai Law Firm help me with a bankruptcy in Marietta?

Our firm has helped thousands of Georgians start their new lives and assist them with their bankruptcy proceedings. We accept all types of bankruptcy cases in Marietta and the surrounding areas. We know how stressful financial matters can be and how weighty a decision filing for bankruptcy is. During our first meeting, we can answer any questions you have and explain what to expect in the coming months.

Should you work with us, we will try to make the process as smooth and as expedient as possible. Contact Ghai Law Firm today at 770-233-7474 for a no-obligation case evaluation.

Call or text (770) 792-1000 or complete a Free Case Evaluation form

Marietta Bankruptcy Blog Posts:

Filing Chapter 7 Bankruptcy – January 2010 Talk Law Radio Show Transcript

Janice: Good afternoon Atlanta and welcome to News & Talk 1380 WAOK. This is Janice Mathis and we’re here this afternoon and every Sat. afternoon at 1pm to talk with one of our lawyers who’s

Difference Between Chapter 13 & Chapter 7 Bankruptcy – March 2010 Talk Law Radio Show Transcript

Janice: Good afternoon Atlanta and welcome to Legal Talk. This is Janice Mathis. This is my favorite hour of the weekend. I learn something new every weekend talking to these brilliant lawyers we have

Discharging Unsecured Debt in Chapter 7 Bankruptcy – February 2010 Talk Law Radio Show Transcript

Janice: Good afternoon Atlanta! Welcome to Legal Talk. This is Janice Mathis. We're here today and we're going to give you some information that we know you can use. We're going to talk about the Home

What Is Chapter 7 – 2009 Talk Law Radio Show Transcript

Janice: Good Afternoon Atlanta! and welcome to Legal Talk. This is Janice Mathis. We're here today and we're going to give you some information that we know you can use. We're going to talk about the

Marietta Bankruptcy FAQ:

Can bankruptcy help me avoid a lien on my home?
Can bankruptcy help me avoid a lien on my home?

When you are behind on a debt, one of the options your creditors have is to go to court and seek a judgment against you. If this occurs, the creditor may place what is called an “involuntary lien”

What are “tools of the trade” exemptions in bankruptcy?
What are “tools of the trade” exemptions in bankruptcy?

Georgia code § 44-13-100 states that one exemption allowed under bankruptcy in Georgia is “The debtor's aggregate interest, not to exceed $1,500.00 in value, in any implements, professional books,

What is a 341 Meeting and do I have to attend?
What is a 341 Meeting and do I have to attend?

Under Chapter 341 of the federal bankruptcy code, creditors have an opportunity to attend a meeting with the debtor which is called a 341 creditors meeting. As the debtor you do have to attend this

Bankrupt woman with no money
Can I file by myself or does my spouse have to file with me?

Georgia, like other states, allows husbands and wives to determine whether they should file bankruptcy individually or singly. While Georgia does not utilize federal bankruptcy exemptions, the state

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    Frequently Asked Questions

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    Bankruptcy FAQ

    Can Creditors Be Sued For Trying To Collect Debt After You File For Bankruptcy

    Can Creditors Be Sued For Trying To Collect Debt After You File For Bankruptcy

    Can Your Home Be Sold In Bankruptcy If You Don’t File Bankruptcy But Your Spouse Files Bankruptcy?

    Can Your Home Be Sold In Bankruptcy If You Don’t File Bankruptcy But Your Spouse Files Bankruptcy?

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      • ABOUT
        • Testimonials
        • Join Us
      • Practice Areas
        • Personal Injury
          • Pedestrian Accident
          • Car Accidents
            • Speeding Accident
            • Drinking and Driving Accidents
            • Left Hand Turn Accident
            • Rear-End Collision
            • Reckless Driving Accident
            • Uber Accidents
            • Hit-and-Run Accidents
            • Texting and Driving Accident
              • Texting and Driving Under 18
          • Truck Accident
            • Lane Usage Accident
            • Traumatic Brain Injury
          • Product Liability
            • Defective Drugs
            • Defective Medical Device
          • Premises Liability
            • Slip and Fall Accidents
          • Wrongful Death
          • Dog Bite
        • Bankruptcy
          • Debt Relief
          • Credit Card Debt
          • Chapter 13 Bankruptcy
          • Chapter 7 Bankruptcy
          • Foreclosure Bankruptcy
          • Free Legal Case Review
          • Medical Bills Bankruptcy
          • Rebuild Your Credit
          • Wage Garnishments
      • Areas We Serve
        • Kennesaw Personal Injury Lawyer
          • Kennesaw Bankruptcy Lawyer
        • Acworth Personal Injury Lawyer
          • Acworth Bankruptcy Lawyer
        • Marietta Personal Injury Lawyer
          • Marietta Bankruptcy Lawyer
        • Smyrna Personal Injury Lawyer
      • FAQs
      • Blog
      • Videos
      • Contact