Consumer Bankruptcy Lawyers in Smyrna, Georgia

Find the right Consumer Bankruptcy attorney in Smyrna, 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 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 Smyrna, Georgia will have distinct rules for exemptions, so you should speak with a local attorney before filing.

Chapter 7 Bankruptcy in Smyrna, Georgia

There are 2 typical types of bankruptcy in Smyrna, Georgia. They are known as Chapter 7 and Chapter 13 Bankruptcy. Chapter 7 liquidates some of the debtor's assets. It requires a certain percentage of the debtor's assets to be sold off to pay as much of his or her debt as possible. However, many types of property that most people own are exempt, meaning that they don't need to be sold. This often includes houses, vehicles, insurance policies, and necessary personal items, like clothing. These assets are not available to creditors.

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

Chapter 13 Bankruptcy in Smyrna, Georgia

Chapter 13 Bankruptcy in Smyrna, Georgia is very different from Chapter 7. Whether or not it is a better option is highly dependent on the facts of each distinct 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 Smyrna, Georgia

Chapter 13 is typically a good option for people who have a steady income, and a large amount of non-exempt property that they can't part with. On the other hand, if most of the debtor's property is exempt, and he or she does not have a steady income, Chapter 7 might be more beneficial.

Of course, you should always seek the counsel of an experienced local Smyrna, 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.

Talk to a Bankruptcy & Finances Law Attorney now!

Life in Smyrna

Located just 10 miles from the state capital of Atlanta, Smyrna Georgia is a city with lots of Southern charm. Smyrna was incorporated in 1872 and is appropriately nicknamed, "Jonquil City" for the many jonquils that bloom naturally in the city's parks and streets during the spring blossom.

Smyrna has a population of 47,000 residents. Smyrna has over 304 acres of parks and open spaces within the city's 15 square miles-- a fact that promotes its residents outdoor activity. The Village Green is the hub of the city and is the "common area" of Smyrna housing the library, civic center, and community center.

The Market Village is an expansive downtown development in the city that has retail, restaurants, and housing for many of Smyrna residents to enjoy. Smyrna is also a popular sport for Atlanta workers to live in and enjoy the perks and space of a suburb. Smyrna is just a fifteen minute drive to downtown Atlanta.

Smyrna has many lawyers that help contribute to the growth and development of the city. Lawyers with a range of specialties to help their fellow citizens with any issue they may find themselves dealing with. Smyrna lawyers are in good company with local doctors, accountants, and other professionals creating a great professional community.

Clients Rate LegalMatch Attorneys
(click to read reviews)

Ian M.
Ian M.

Bankruptcy, Banking & Credit

Richboro, PA

Eddy H.
Eddy H.

Bankruptcy, Banking & Credit

San Mateo, CA

Howard B.
Howard B.

Bankruptcy, Banking & Credit

Rye Brook, NY