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The decision to file for bankruptcy is extremely important and should not be taken lightly. If you are a Dacula resident considering this big financial decision, it may be because of payments on a mortgage that is underwater, a recent job loss, divorce, or from simply having too many bills and payments that are too high. Regardless of the reasons, it is highly recommended that you talk to bankruptcy attorney Keith Cornwell at the Cornwell Law Firm before making any definite decision.
Please be assured that we will advise you through each step of the bankruptcy process, which can often be bewildering and confusing. The Cornwell Law Firm has experience in all the different areas of bankruptcy law, and can assist you with your unique situation or answer any questions. We offer a free and no obligation initial consultation.
You may have heard of Chapter 7 and Chapter 13 bankruptcy, without understanding fully what the difference is. We can explain the two options for you, and also help you with the required means test. The means test is a way of determining your eligibility to file bankruptcy and will compare your monthly income against your monthly living expenses. The results will help to determine which if these two options might be best for your situation.
Many Dacula residents threatened with foreclosure decide that a Chapter 13 bankruptcy is their best option. This allows those with a high enough income to catch up their delinquent payments over the next three to five years, after which time the outstanding balance can be discharged. Chapter 7 bankruptcy may be a better solution if your monthly income is below the average income in the state, and this type of bankruptcy discharges all your unsecured debts.
While bankruptcy is a practical and convenient solution for many struggling to make high monthly payments, it isn't necessarily the only option. Debt negotiation, or debt settlement, involves contacting your creditors and negotiating lower payments or a lower overall amount owed. Often the lowered principle amount can then be paid in a lump sum, making it even easier. The objective is to pay your debts but be better off at the same time, by paying less each month.
Bankruptcy comes with several benefits, including not having to make monthly payments on your unsecured debt, as well as peace of mind and fewer sleepless nights. Once you have filed for bankruptcy, your creditors are legally required to stop contacting you by phone or by mail, asking you for payment. Many people who file for bankruptcy retain their car and their home, and just as importantly, many people look upon it as a unique opportunity to make a fresh start and get their financial affairs in order. The Cornwell Law Firm can explain the advantages of filing for bankruptcy in much more detail and advise whether it is the right step for you to take.
Many people dream of being released from the financial burden of having too many debts and not being able to pay them, and by contacting the Cornwell Law Firm, you can enjoy that peace of mind. By taking advantage of the free consultation offered by our firm, you can have the bankruptcy laws and procedures clearly explained to you and can make the right decision as to whether filing bankruptcy in Dacula GA s the right thing for you.
Cornwell Law FIrm
2180 Satellite Blvd, Suite 400
Duluth, Ga, 30097
Fax: +1 987-123-456
FREE CONSULTATION - CALL 404 791 4449
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