Question: I’m wondering what filing bankruptcy can do for me. My boss at work told me she filed and it was the best thing she’s ever done. And I’m not just asking for myself, but also for my family members who also have too much debt and need to get rid of their debts and move on with their lives.
I’m married and have 5 kids, two with special needs, and all are under the age of 15. So we’re paying for private schools. We live in a house that we are worried might be foreclosed because we haven’t made a mortgage payment in several months.
I work full-time and my wife works part-time. I’m in construction and my wife works for our school system as a substitute teacher. I’ve been in construction for over 25 years and owned my own company for a few years, but the recession wiped that out. My wife has worked for the schools for about 10 years, always part-time.
We live at my house with her parents. The problem is that neither one of her parents work. Her father is a retired deputy sheriff, and her mother is on disability. They pretty much just watch cable television all day and argue about money. Don’t get me wrong, I like having them here at my house and they’re nice people, but we just can’t afford them at the moment. But I’m not going to kick them out because that would be the end of my marriage.
Each of our two families has a lot of debt. The debt is overwhelming and we need to address it because we could get our house foreclosed and before the lawsuits hit. We’re getting calls every day from nasty creditors who want their money. It’s causing all sorts of stress for me, my wife, and her parents.
Basically, my money goes to support and my wife’s family, and her parents’ money goes to pay debts they’ve incurred, including medical debt from my wife’s father’s heart attack and his alcohol rehab, and debts from her mom’s gambling addiction, which she’s had for about 20 years if not more.
I need an Atlanta bankruptcy lawyer to tell me what bankruptcy can do to help me?
C.A, in Atlanta, Georgia
Answer: Bankruptcy helps millions of Americans and many people right here in our state of Georgia benefit from getting out of debt and getting a fresh start. The right to file bankruptcy is found in the United States Constitution.
The best part of bankruptcy is that it eliminates the legal obligation to pay most or, in many cases, all of your debts. This is known legally as a “discharge” of debts. If your debt is “discharged,” it is eliminated forever. You don’t have to pay it. It is designed to give you a fresh financial start and a brighter future. And that goes for whether you file a Chapter 7 or a Chapter 13!
Bankruptcy can stop foreclosure on your house or mobile home and allow you an opportunity to catch up on any missed payments. You could have five years to catch up on missed payments. Filing bankruptcy (whether a chapter 7 or a chapter 13) does not, however, automatically eliminate mortgages and other liens on your property without payment.
Bankruptcy prevents repossession of a car or other property, or it can even force the creditor to return your property after it has been repossessed.
Stops Wage Garnishments
Bankruptcy stops wage garnishment, bank levies, debt collection harassment, lawsuits, and creditor actions to try to collect a debt.
Bankruptcy can also restore or prevent termination of utility service.
Call us now and we can show you how it can help you!