Consumer Bankruptcy Lawyers in Duluth, Georgia

Find the right Consumer Bankruptcy attorney in Duluth, GA

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

Chapter 7 Bankruptcy in Duluth, Georgia

There are 2 main types of bankruptcy in Duluth, Georgia. They are known as Chapter 7 and Chapter 13 Bankruptcy. Chapter 7 bankruptcy involves liquidation of some of the debtor's assets. It requires some percentage of the debtor's property to be sold in order to pay off as much of his or her debt as possible. However, the majority of property that most people own is exempt. This normally includes homes, vehicles, insurance policies, and retirement accounts. These do not need to be sold.

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

Chapter 13 Bankruptcy in Duluth, Georgia

In Duluth, Georgia, Chapter 13 is very different from Chapter 7. Chapter 13 may or may not be the best choice for you; this depends on the facts of your individual situation. 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 contracts that gave rise to the debt in the first place. This results in an altered 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 Duluth, Georgia

This depends entirely on the facts of your individual case. If you have a decent amount of steady income, and a large amount of non-exempt property which you don't want to part with, Chapter 13 might be the best option for you. If most of your property is exempt, and you don't have much steady income, Chapter 7 might be the best option.

In any case, you should talk with a local Duluth, Georgia bankruptcy attorney. Your attorney can advise you of your options and inform you of their likely outcome. This will make it much easier for your to make an informed choice.

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Life in Duluth

Duluth, Georgia is a small city located in Gwinnett County. It has a population of about 26,000 people.

Duluth, Georgia is a rapidly-growing suburb of Atlanta. It is home to several major regional shopping centers, and has natrual attractions nearby, such as Stone Mountain and Lake Lanier. These attractions make for a wide variety of available recreational activities, including boating and hiking.

As with many cities in the U.S., Duluth, Georigastarted out as a small trading post, and expanded rapidly with the arrival of a railroad in the 19th Century.

Duluth's modern economy focuses largely on the healthcare sector, and attracts a variety of professionals, including doctors, nurses, and administrative professionals. Forbes Magazine recently ranked Duluth, Georgia as one of the top places in the U.S. for professionals to relocate to, owing to its high quality of life, low cost, and robust job market.

There are plenty of Duluth, Georgia lawyers who can handle just about any type of legal case that an average person is likely to encounter. Whatever legal problem you may have, there is a very good chance that a Duluth, Georgia lawyer can help you solve it.

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