Consumer Bankruptcy Lawyers in Statesboro, Georgia

Find the right Consumer Bankruptcy attorney in Statesboro, GA

Bankruptcy is a legal procedure that allows an individual or business to have some or all of their debts discharged. It is usually considered as an option of last resort, because while it can stave off financial disaster, it has some significant 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 Statesboro, Georgia will have individual rules for exemptions, so you should speak with a local attorney before filing.

Chapter 7 Bankruptcy in Statesboro, Georgia

There are 2 common types of bankruptcy in Statesboro, 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 essential 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 absolved. Some types of debt, however, is non-dischargeable, including student loans, criminal fines, and others. If most of your debt in Statesboro, Georgia is not dischargeable, Chapter 7 may not be the best option.

Chapter 13 Bankruptcy in Statesboro, Georgia

Chapter 13 Bankruptcy in Statesboro, Georgia is very different from Chapter 7. Whether or not it is a better option is highly dependent on the facts of each individual case. Chapter 13 does not discharge debt, but restructures it instead. Usually, various debts are consolidated into a single monthly payment. This is designed to make the debt more manageable, giving the debtor the chance to pay off the debt over a longer period of time, without all of it coming due at once. This is usually manageable, as long as the debtor can make some sacrifices.

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

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

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

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Life in Statesboro

Statesboro, Georgia is home to almost 70,000 residents. In addition to being one of the larger cities in the state of Georgia, Statesboro is also home to Georgia Southern University, a presence which gives the city a charming college town feel. The University also happens to be the city's largest employer. Many students that come to Statesboro for college or graduate school decide to stay in the southern city, which explains the young population of Statesboro. Statesboro is located on 12.6 square miles and has an economy heavily dependent on agriculture. Statesboro is also home to WalMart's largest distribution center in the world. Statesborohas also been featured in movies such as Now and Then and 1969. The Statesboro newspaper industry has received local and national recognition for its innovation in online technologies. The thriving college community makes for many great lawyers to liveand practice in Statesboro. Statesboro lawyers range in their specialties and are skilled in any legal issue a client may be dealing with.The local lawyers in Statesboro are just one more aspect of Statesboro that makes it a wonderful city to live in.

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