Atlanta Bankruptcy Lawyers
Bankruptcy derives its meaning from the Italian word “banca rotta”, which means broken bank. The broken bank represents the ancient Italian custom of breaking a businessman’s commercial bank if he did not pay his debts. Over the centuries, the law has been framed to protect the interests of both creditors and debtors as a decent way to handle a debtor’s financial crisis. US bankruptcy law is a short process for handling bankruptcy that can affect both consumers and businesses. A bankruptcy attorney would help eliminate and pay off debts under the bankruptcy court protection system.
Bankruptcy is of two types: liquidation and reorganization. Discharge of bankruptcy, covered by Chapter 7, involves the discharge of debts through the sale of non-exempt assets and the use of the credits to pay off creditors. On the other hand, in a reorganization bankruptcy, which is covered by Chapters 11, 12, and 13, the debtor makes a plan to pay off some or all of the debt. The liquidation period for reorganized bankruptcy is usually around 3 to 5 years.
Hiring a bankruptcy attorney would be very helpful in all stages of the bankruptcy process. Bankruptcy attorneys would help settle unsecured accounts like credit cards, personal loans, utility bills, etc. for less than the debt amount, thus providing an alternative to bankruptcy. Bankruptcy attorneys would also help evaluate your options as to the type of bankruptcy to file. They also help to liquidate assets in order and handle the files if the debts are too large and involve considerable assets.
Bankruptcy forms in Georgia are also similar to those in other states, although some additional forms may be required depending on local regulations. Atlanta bankruptcy attorneys are subject to the fee guidelines given by the Atlanta bankruptcy court. These fees are similar to those paid to bankruptcy attorneys in other major metropolitan areas of the US. When choosing an Atlanta bankruptcy attorney, care should be taken to select one with experience handling cases. bankruptcy and have a proven track record of successfully handling such cases.
Information about Atlanta bankruptcy attorneys is available in the yellow pages, through search engines like Google and Yahoo, and through law firm advertisements. There are also attorney directories available on the internet that would provide comprehensive information on Atlanta bankruptcy attorneys. Information on Atlanta bankruptcy lawyers is also available through the county bar association and the State Bar Association, which is part of the American Bar Association. Friends and family can also provide helpful referrals for good bankruptcy attorneys.
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