Have you tried catching up on your debt but still can’t seem to get a handle on it?

This might have you wondering what your next step should be.

Chapter 7 bankruptcy can offer you relief from this debt by discharging some or all of what you owe.

But it isn’t a quick fix-all solution. There might be some drawbacks such as some loss of physical assets and impacts to your credit that you should be aware of before deciding.

As bankruptcy attorneys for Atlanta and the surrounding area, it is our job to ensure our clients – and potential clients – are making an informed decision about their financial future.


What Is Involved with Filing?

From the time of filing, it generally takes about three months for your debts to be discharged. Some of the steps you can expect to go through as part of the process include:

  • Bankruptcy counseling
  • A “means test.” This will determine your eligibility.
  • Filing a petition with your local bankruptcy court.
  • Attending a meeting of the creditors.
  • Completing a financial management course.

Thankfully, if you hire a bankruptcy attorney, they will handle most of this for you.


When Should I Start Thinking About Bankruptcy?

If you are drowning in debt and aren’t sure where to go next, you might already be beginning to consider filing bankruptcy.

If you’ve tried to negotiate with companies you owe or to consolidate your debt but still need help, chapter 7 might be something you should consider.

Think of it like “pausing” some debts and getting rid of some.


How Will My Credit be Impacted?

One of the major negative things most commonly associated with bankruptcy is the hit to your credit. The impact on your credit will depend on your current score and other factors related to your financial situation.

However, depending on your current situation, it could be potentially more harmful to not file for bankruptcy.


Let Us Help You Through the Process

As a long-time trusted bankruptcy attorney, we are highly experienced in chapter 7 bankruptcy cases.

We will start by determining if this is the best option for you, and if it is, we will be there for you every step of the way.

The COVID-19 pandemic has added so many new stressors to people’s lives. And our clients are of utmost importance to us. Give us a call today to learn more about our team and how we can help you.