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BANKRUPTCY

Bankruptcy is the section of the federal law that enables a person or persons with large amounts of debts to start over by reducing the amount of debt to be paid and also extends the time in which debts are to be paid. Often referred to by their chapter number, which corresponds to the associated Bankruptcy Code, there are three applicable chapters under which individuals can file: Chapter 7 Liquidation, Chapter 11 Reorganization, and Chapter 13 Reorganization. At THE FRISON FIRM we analyze each potential client's personal financial situation and decide which Chapter would be best for each client. We stop foreclosures and repossessions, even retrieve automobiles that have already been repossessed. We lower interest rates on some automobile loans and the principal balance to be repaid under a Chapter 13. We stop garnishments on pay checks and bank accounts and get back already garnished funds. We facilitate giving our clients a fresh start by providing for the surrender of no-equity assets and discharge of deficiency balances. We give our clients room to breathe.

ISSUE: The Bankruptcy Abuse Prevention & Consumer Protection Act, effective October 17, 2005, makes filing for bankruptcy more complicated and difficult. This law requires debtors to adhere to stricter guidelines in determining if their debts can be liquidated through Chapter 7, or if Chapter 13, a repayment plan, is more applicable. The new laws include impediments to filing, new court rules, new forms and additional procedures for debtors. Because these new laws are more complex, consumers should consult with a qualified Bankruptcy Attorney.

Specific ways that the new bankruptcy laws will affect debtors:

• Administering of a strict financial means test is now required that will prohibit some debtors who's income is more than the media income in Georgia from filing a liquidation bankruptcy under Chapter 7 and are forced to file a Chapter 13
• Debtors must attend required briefing with approved credit counseling agency within six months prior to filing bankruptcy
• Mandatory attendance, by debtors, in an approved debt management techniques class, before bankruptcy discharge can be received
• Courts can, under a provision in new laws, easily dismiss a bankruptcy case or convert a Chapter 7 case to a Chapter 13 case
• Provision now permits court to impose sanctions on attorneys, or debtors, for filing a Chapter 7 case that is dismissed or converted to a Chapter 13 case

Solution Fill out my Quick Online Bankruptcy Questionnaire then contact THE FRISON FIRM at (404) 942-4330. Attorney Frison has a professional and compassionate belief that there is nothing wrong or shameful about filing for bankruptcy. Exercising the option to file is not a request for government handouts or entitlement, but a citizen's right, by law, and is intended to assist in giving honest people a fresh start with a clean slate.

You can also view a series of bankruptcy videos by clicking the following links

Bankruptcy Basics 1

Bankruptcy Basics 2

THE FRISON FIRM represents clients throughout Georgia, including those in Downtown and Midtown Atlanta, Decatur, Alpharetta, Duluth, East Point, Lilburn, Stone Mountain, Lithonia, Covington, Clarkston, Peachtree City, Marietta, Conyers, Dallas, Savannah, Brunswick, Smyrna, Jonesboro, Lawrenceville, Sandy Springs, Buckhead, Gainsville, Athens, Austell, Carrollton, Macon, McDonough, Newnan, Norcross, Riverdale, Rockmart, Roswell, Stockbridge, Villa Rica and all cities within Fulton County, Dekalb County, Cobb County, Rockdale County, Gwinnett County, Bibb County, Whitfield County, Clarke County, Richmond County, Chatham County, Muscogee County, Floyd County, Houston County, Dougherty County, Clayton County, Carroll County, Henry County and Lowndes County.