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Duluth residents who are struggling with huge amounts of debt often shiver at the thought of being declared bankrupt. Bankruptcy may be necessary if you have suffered a serious injury, lost your job or had an underwater mortgage. Whatever the cause of your financial hardship, debtors will only give you a short period of time for you to make up for any default before they take legal action. In such cases, it is important that you get competent legal counsel from a qualified attorney, such as the Cornwell Law Firm bankruptcy attorney.
From the year 2006, I have handled over 2,000 bankruptcy cases in a skilled and competent manner. This is exactly the kind of experience that clients need on their side when they are dealing with bankruptcy.
My clients can have peace of mind knowing that I will do everything possible and advise them whenever possible throughout the case. To learn more about bankruptcy law, all you need is a free case consultation and evaluation. Call us today for proper representation and legal advice on any area that is related to bankruptcy law.
Taxpayers should know that there are different types of bankruptcy before they embark on the process of seeking bankruptcy. The first step in the bankruptcy process is the means test, which helps attorneys to identify the most suitable bankruptcy option between Chapter 13 and Chapter 7. Basically, the means test seeks to find out whether or not a person can afford to service their debts by deducting travel, clothing and food costs from their average monthly income; the difference must exceed a certain amount for the person to pass the test.
Chapter seven bankruptcy entails liquidation of assets to offset the outstanding debts of individuals who fail the means test. Individuals who pass the means test, or those with enough funds to repay their debts after paying utility bills, buying food and clothing, can file bankruptcy under Chapter 13 and have their debts written off in three to five years. After the bankruptcy period lapses, the unpaid debts are usually written off. This is often the most popular option for homeowners who are facing foreclosure.
It is important for taxpayers to always remember that bankruptcy is the option of last resort, meaning that there are several other alternatives that they may want to consider before opting for bankruptcy. One of these options is debt settlement or debt negotiation. Debtors can work with experienced attorneys to negotiate a settlement with their creditors. The settlement may come in the form of a reduced debt to be repaid over a longer period of time with pocket-friendly monthly installments or a lump sum payment. The main goal of debt negotiation is to discharge your debt in the most gentle way possible to ensure that you do not experience any serious financial hardship.
Bankruptcy is not always full of hardship, despite what most people think. In fact, it will make life easier for you as it will put an end to collection attempts by creditors and as well as let you keep your furniture and car among other exempt assets. Other benefits include peace of mind, debt relief and financial freedom. Call us today to learn more about how you can enjoy these benefits.
If bad debts have overwhelmed you, call us today for consultations to get a suitable bankruptcy solution. Bankruptcy may give you the financial relief that you have been dreaming of. Since 2006, I have been helping taxpayers, like you, to seek financial relief through bankruptcy. Call Cornwell law firm today and get a free consultation on how you can get a fresh start in life through bankruptcy.
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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