Bankruptcy is the section of the federal law that enables a person or persons with large amounts of debts the chance to start over with a clean slate. This remedy reduces the amount to be paid and also extends the time in which debts are to be paid.
Often referred to by their chapter number, there are three relevant chapters under which individuals can file: Chapter 7 Liquidation, Chapter 11 Reorganization, and Chapter 13 Reorganization. Contact us today to discuss which chapter is right for you.
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At The Frison Firm, we analyze potential clients' personal financial situations and decide which Chapter best suits their needs. We prevent foreclosures and repossessions as well as retrieve automobiles that have already been repossessed. Additionally, we can lower interest rates on some car loans and the principal balance to be repaid under a Chapter 13 case.
Our goal in bankruptcy cases is to give our clients room to breathe and repair their finances. We prevent garnishments on paychecks and bank accounts and even return already garnished funds. Our legal team can facilitate giving our clients a fresh start by providing for the surrender of no-equity assets and discharge of deficiency balances.
The Bankruptcy Abuse Prevention and Consumer Protection Act, effective October 17, 2005, makes filing for bankruptcy much more complicated. This law requires debtors to adhere to stricter guidelines in determining if their debts can be liquidated through Chapter 7. It also determines if a Chapter 13, a repayment plan, is more applicable to your case. Please call us today!
The new laws include impediments to filing, such as 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 for legal advice. Please call us today!
- Administering a strict financial means test is now required. This prohibits some debtors whose income is more than the median income in Georgia from filing a liquidation bankruptcy under Chapter 7 and are forced to file a Chapter 13.
- Debtors must attend a required briefing with an approved credit counseling agency within six months before filing for bankruptcy.
- Courts can, under a provision in new laws, easily dismiss a bankruptcy case or convert a Chapter 7 case to a Chapter 13 case.
Bankruptcy Analysis Worksheet
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.