Atlanta Bankruptcy Associates is Helping People Understand the Type of Bankruptcy Right for Them

March 08 20:39 2021
Atlanta Bankruptcy Associates is Helping People Understand the Type of Bankruptcy Right for Them
Atlanta Bankruptcy Associates is a leading firm with a focus on bankruptcy law. Their mission in any financial law matter is to provide expert legal representation coupled with the personal support and attention clients deserve. Alongside that, they also venture into helping people make perfect decisions regarding bankruptcy. That is why in a recent update, they posted a guide to choosing the right type of bankruptcy.

Cumming, GA – March 8, 2021 – In a post on its website, Atlanta Bankruptcy Associates, a leading bankruptcy firm, has outlined a guide to help people choose the right bankruptcy for them. While addressing the confusion people when it comes to this field, their top-rated bankruptcy attorney in Cumming residents, has stated the following.

Chapter 7, sometimes known as a “liquidation” or “straight” bankruptcy, allows people to eliminate most of their debts by forgiving their obligations by the bankruptcy court through the help of Cumming bankruptcy attorney. In this type of bankruptcy, some of the client’s assets may be distributed to creditors; however, they may be eligible for various exemptions under the law that would protect multiple property items. It discharges a person’s qualifying debts, so he or she can obtain a “fresh start.”

Chapter 13 bankruptcy, sometimes called a “reorganization” or “wage earner’s plan’’, is for individuals (or married couples) who have a regular source of income. Under this type of bankruptcy, the court approves a debt repayment plan that will span 3-5 years but will keep creditors at bay so long as they make the required payments. This type of bankruptcy does not require people to forfeit any assets to pay unsecured debts.

About Atlanta Bankruptcy Associates

At the law offices of Atlanta Bankruptcy Associates, individuals get the opportunity to explore their best debt negotiation and bankruptcy solution for their situation and circumstances. Their team of bankruptcy lawyers is deeply committed to helping clients meet their goals.

Media Contact
Company Name: Atlanta Bankruptcy Associates
Contact Person: Samantha Hall
Email: Send Email
Phone: (678) 582-2985
Address:347 Dahlonega St Suite 200
City: Cumming
State: GA 30040
Country: United States