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Atlanta Georgia Bankruptcy Lawyer Bernd Stittleburg

What type of bankruptcy is available to the average person?

Click here to set up an appointment with Atlanta Georigia Bankruptcy Attorney Bernd Stittleburg.

  Chapter 7 Liquidation:  

     Chapter 7 is designed to wipe out debts. It works best if you have a lot of credit card debts, medical bills, or vehicle repossession deficiencies.  If you have a house or a car you want to keep, you can still file Chapter 7 - however, you will have to be current with your payments and we will have to show that you have only limited equity in those items.

     If you decide to keep a particular account open (like a car loan, a mortgage, or even a credit card), you will reaffirm the debt by signing a reaffirmation agreement with your creditors.  Note that creditors do not have to reaffirm with you - I can advise you whether or not a particular creditor  is likely to agree to reaffirmation.

     Chapter 7 is the fastest and simplest form of bankruptcy.  My advice is to consider Chapter 7 first. It has also been my experience that you will recover and start rebuilding your credit more quickly after Chapter 7 more quickly than you will a Chapter 13. This is true because your Chapter 7 case will be over in 3 to 4 months, after which you can start to rebuild your credit. Chapter 13, by contrast, lasts at least three, and as many as five years.  Therefore, you can’t even start to rebuild your credit for several years.

     If you file Chapter 7, you will likely need to attend one very brief, informal hearing.  Click here to learn exactly what happens at a Chapter 7 meeting of creditors hearing. 

Chapter 13 Repayment Plan:

     Chapter 13 is designed to help you save property like your house or your car, if you have fallen behind on your payments and are facing foreclosure or repossession.  When you file Chapter 13, we set up a payment plan whereby you pay back your missed mortgage payments and missed car payments over a three to five year payment plan.

     You also pay back other debts in a Chapter 13, including credit card debts, medical bills and loans. Sometimes we can create a payment plan in which you pay back these other debts at less than 100%. By law you are required to include all of your debts in your Chapter 13 plan. In addition, you have to pay your Chapter 13 plan through a payroll deduction filed with your employer.

     Unlike may of my competitors, I do not use paralegals to interview you and prepare your case, this is handled strictly by myself.  The Bankruptcy Judges and the Chapter 13 Trustees have established minimum standards for lawyers in Chapter 13 cases. For example, these guidelines obligate all lawyers to actually meet with their clients personally and provide certain information.  Because I am not a high volume bankruptcy mill firm, you will always meet with me and you will always have prompt access to me by phone or e-mail.  My practice is here to offer you far more than the minimum. Click here to read what the Courts consider to be a minimum level of service for Chapter 13 representation.

     If you file Chapter 13, you will likely need to attend one very brief, informal hearing.   Click here to learn what happens at a Chapter 13 meeting of creditors hearing and what potential problems (objections) can crop up.