Consumer Bankruptcy Lawyers in Milledgeville, Georgia

Find the right Consumer Bankruptcy attorney in Milledgeville, GA

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 Milledgeville, Georgia will have distinct rules for exemptions, so you should speak with a local attorney before filing.

Chapter 7 Bankruptcy in Milledgeville, Georgia

There are 2 typical forms of bankruptcy in Milledgeville, Georgia. They are known as Chapter 7 and Chapter 13 Bankruptcy. Chapter 7 involves liquidation of part of a debtor's assets. It requires that a certain percentage of the debtor's property to be sold to pay off as much debt as possible. The majority of property that most people own, however, is exempt. This typically includes homes, vehicles, retirement accounts, and others. These are not available to creditors.

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 Milledgeville, Georgia is not dischargeable, Chapter 7 may not be the best option.

Chapter 13 Bankruptcy in Milledgeville, Georgia

In Milledgeville, Georgia, Chapter 13 is substantially different from Chapter 7. Chapter 13 may or may not be the best choice for you; this depends on the facts of your specific situation. Chapter 13 bankruptcy does not absolve debt, it restructures it. This involves a court coming up with an adjusted repayment plan designed to be manageable for the debtor. This new plan sets aside the terms of the original arrangements that created the debt in the first place. This creates a new payment structure, typically involving a single monthly payment, that the debtor should find manageable.

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

The answer to this question depends strongly on your distinct situation. If you have enough stable income to manage a payment plan, and a lot of non-exempt property that you are unwilling to part with, Chapter 13 may be a good option. If you don't have much stable income, and most of your property is exempt, Chapter 7 might be better.

Of course, you should always seek the counsel of an accomplished local Milledgeville, 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 Milledgeville

Milledgeville, Georgia is a town in, and the county seat of, Baldwin County. Its current population is approximately 18,000 people. Milledgeville was one of the first capitals of Georgia, and it served in that capacity from 1806 to 1868, when the capital was moved to its current location of Atlanta.

Milledgeville, Georgia was named after John Milledge, an early governor the state of Georgia.The town was founded in the early 19th Century, andis a very early example of a planned city, being built for the express purpose of serving as Georgia's capital.

Milledgeville has the distinction of being the hometown of Oliver Hardy, famous for being one of the Laurel and Hardy pair, one of the most famous and popular comedy duos of the time. Furthermore, Milledgeville is the birthplace of Congressman Car Vinson, as well as several professional athletes, most of whom are in the NFL.

Milledgeville, Georgia attorneys, and the legal community as a whole, are part of what makes Milledgeville what it is today. If you need any type of legal assistance, it's probable that there's at least one Milledgeville, Georgia lawyer who can help you with your case.

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