Consumer Bankruptcy Lawyers in Albany, Georgia

Find the right Consumer Bankruptcy attorney in Albany, GA

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Bankruptcy is a legal procedure that allows an individual or business to have some or all of their debts discharged. It is typically considered as an option of last resort, because while it can stave off financial disaster, it has some substantial long-term consequences warranting careful consideration of the costs and benefits. Being a creation of federal law, bankruptcy will go through federal courts. Accordingly, the process for filing for bankruptcy in Georgia is essentially the same as the process anywhere else in the United States. However, particular courts in Albany, Georgia will have distinct rules for exemptions, so you should speak with a local attorney before filing.

Chapter 7 Bankruptcy in Albany, Georgia

In Albany, Georgia, there are 2 commonly-used types of consumer bankruptcy: Chapter 7 and Chapter 13. Chapter 7 states that a certain percentage of the debtor's property be liquidated to pay off at least a small part of their debt. However, many forms of property are exempt, and do not need to be liquidated, such as cars, homes, insurance policies, and retirement accounts.

Once the non-exempt property is sold, the rest of the dischargeable debt is cleared. Some forms of debt, however, is non-dischargeable, including student loans, criminal fines, and others. If most of your debt in Albany, Georgia is not dischargeable, Chapter 7 may not be the best option.

Chapter 13 Bankruptcy in Albany, Georgia

Chapter 13 Bankruptcy in Albany, Georgia differs considerably from Chapter 7. It might be a better option than Chapter 7, depending on the facts of your case. Chapter 13 bankruptcy does not discharge debt. Instead, it restructures it. This involves the bankruptcy court coming up with a new payment plan that supersedes the terms of the arrangements that gave rise to the debt in the first place. This results in an adjusted payment plan that the debtor should find manageable, if he or she can make a few sacrifices.

Which Type of Consumer Bankruptcy Should I File in Albany, Georgia

Whether Chapter 7 or Chapter 13 is the right choice for you depends heavily on your distinct situation. If you have a stable income stream, and a lot of non-exempt property, Chapter 13 might be right for you. If you don't have a stable income, and most of your property is exempt, Chapter 7 might be a better way to go.

Of course, you should always seek the counsel of an accomplished local Albany, Georgia bankruptcy attorney before you make the decision to file. He or she will be able to advise you of your options, and suggest the best possible course of action for your specific situation.

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Life in Albany

Albany, Georgia is located in Dougherty County, where it also serves as the county seat. It has a population of well over 77,000 and is nicknamed "The Good Life City". Production and manufacturing fuel much of the city's economy, and its community life is marked by a number of unique events.

Economically speaking, Albany, Georgia is supported largely by the manufacturing, health care, transportation, education, and retail industries. Top employers for Albany residents include Procter Gamble, Teleperformance USA, MARS Snackfood US, and Thrush Aircraft. Despite Albany's extensive expansion, the city still retains its "Southern town" environment, with many areas still surrounded by pine trees, tree groves, and farmlands.

Residents of Albany enjoy a great number of events and recreation establishment, thus earning the city its nickname of The Good Life City. A few examples of popular Albany events are "Discovery Days", held at The Flint RiverQuarium, and a "Frontier Festival" held the wild animal park. Popular tourist attractions include the civic center, the municipal auditorium, and weekend events such as outdoor farmer's market. Much of the city's art scene revolves around singer Ray Charles, who hailed from Albany.

Lawyers in Albany, Georgia are trained to handle legal issues in a broad range of fields. Many Albany lawyers assist clients at the Dougherty Superior Court, located in Albany. The Superior Court oversees all other courts in the county and also maintains the Dougherty County Law Library.