Bankruptcy Code For Athens GA

Bankruptcy is used by both individuals and business to get rid if their debts. They can then repay these debts with protection from the bankruptcy court. There are two kinds of bankruptcy: reorganization and liquidation. Under Chapter 7 of the bankruptcy code, liquidation bankruptcy happens when you ask the bankruptcy court to have your debts discharged. The bankruptcy court will then be sell or liquidate some of your properties. The money gained from doing this is then shared amongst the creditors. Liquidation bankruptcy lasts for between 4 and 6 months, so it is quite quick, and you only need to appear once at the courthouse. It is a very easy process, and means you don't have to pay over a long period of time. However, Chapter 7 bankruptcy is not available to everybody.

Chapter 13 bankruptcy proceeding allows individuals to pay down his debts, either the entire amount or a part of it, with the help of a payment plan under the supervision of the court. Debtors filing this chapter can keep their assets with them while they follow the plan or after they have paid off the required portion of debt. It involves the rehabilitation of the debtor to allow him or her to use future earnings to pay off creditors.

We are based in Athens, GA (Georgia). We can help you file for bankruptcy if you are located in Athens, Watkinsville, Carnesville, Elberton, Homer, Jefferson, Danielsville, Lexington, Hartwell, Winder, and Clarke County, Oconee County, Elbert County, Franklin County, Banks County, Jackson County, Madison County, Hart County, Barrow County and Oglethorpe County, Piedmont Judicial Circuit, Northern Judicial Circuit and Athens-Clarke County.

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Athens Georgia bankruptcy lawyer | Bankruptcy attorneys in Athens GA and Athens-Clarke County - Filing for Chapter 7 Bankruptcy and Chapter 13 Bankruptcy