Question: I need to know if I should go bankrupt. I live in Georgia, in Alpharetta, but I'm writing to you from a business trip. I just have too much debt. I started charging my credit card because I wasn't making as much money at my company. I thought it would be temporary, but my salary and bonus haven't increased at all from a few years back; they have actually gone down.
I made some bad investments in oil and natural gas, and I have lost big money on that. I invested in a friend's software business, but that has not worked out and I think his business is doing poorly. He asked me for more money and I said no.
I am remarried and now paying child support and some alimony. Those payments were agreed to when I was making far more money. My ex-wife said she thinks I'm a tool and she won't help me at all.
And I'm thinking my car payment is just not affordable at $900.00 a month. I know that's high but I always wanted a nice car. And I did lose money gambling on a few trips, so that is a problem too.
J.M. Alpharetta, GA
Answer: For most people, the best way out of debt is through a bankruptcy. Bankruptcy is through the federal courts of the United States and has helped millions of Americans get out from under crushing debt obligations.
And everyone files bankruptcy. Rich people like Donald Trump, middle class people and poor people are all able to file bankruptcy. In fact, the right to file bankruptcy is protected in the Constitution of the United States, just like the right to free speech, freedom of the press and the right to bear arms.
The good news is that through either a chapter 7 or a chapter 13 you can eliminate your debt. Loans and credit cards can be eliminated. Obviously, you are under intense stress. You wouldn't have written to us if you weren't. We offer a free consultation so that we can go over your specific situation and offer you debt reduction options.
Just remember that you are not alone. Many Americans have been hurt by bad investments, gambling debt and too much credit card debt.
When you need a Georgia bankruptcy lawyer, call us as soon as possible. We can help you out of the financial nightmare of lawsuits, harassing debt collectors, garnishments and judgments. We're always available at 678-215-4106.
As bankruptcy attorneys and debt negotiation lawyers, we help you get out of debt.
Attorneys Bill Sherman and Valerie Sherman and the team at the Sherman Law Group will help you navigate the entire bankruptcy system. We proudly serve the entire Atlanta metro area and North Georgia.