How do I begin the bankruptcy process?

Your first step should be to inventory your past and present debts. To file bankruptcy in Atlanta or elsewhere, you need a list of your assets to include in your bankruptcy petition. Schedules of assets and liabilities, along with a statement of your financial affairs, comprise the petition you file with the bankruptcy court, accompanied by your filing fee. You must obtain approved credit counseling before you can file bankruptcy.

How do I know that declaring bankruptcy is right for me?

A local attorney experienced in bankruptcy law can give you the necessary advice to help determine the options that best suit your particular situation. For consumers, filing for Chapter 7 relieves most debt, but not all. Filing Chapter 13 pays off debts via a structured repayment plan.

When does filing Chapter 7 make sense?

Chapter 7 in Atlanta, called straight or liquidation bankruptcy, is generally for people with few assets who lack the ability to repay debt. As soon as you file for bankruptcy, your creditors are prevented from trying to collect on your debts through what is called an automatic stay. The stay is designed to preserve your property and to give you a break from litigation.

When does filing Chapter 13 make sense?

Chapter 13 in Atlanta could be your best bankruptcy option if you need some breathing room to pay your debts. Consider Chapter 13 when you:

  • Are behind on your mortgage payments
  • Owe the IRS
  • Do not qualify for Chapter 7
  • Need relief from collection proceedings
  • Can pay your debts within three to five years

When does filing Chapter 11 make sense?

In Atlanta Chapter 11 bankruptcy, your commercial enterprise pays creditors according to a court-approved reorganization plan. This allows your business time to get back on its feet and back on a path to profitability. Bankruptcy court approves or rejects your plan. Not every Chapter 11 case results in restored profitability. Chapter 11 could also ultimately result in liquidation


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The information provided on our website is not, nor is it intended to be legal advice. For legal advice or counsel you should consult directly with an attorney. Contacting us via this website, email, fax, phone, or other electronic means of communication does not create a client-attorney relationship. Please do not send to us any confidential information until a formal attorney-client relationship had been established. Pursuant to 11 USC §528, all bankruptcy attorneys have been designated “debt relief agents” and are required to disclose that we help people file for bankruptcy relief under the United States Bankruptcy Code.