You have worked hard; you tried to make things work and the money just couldn't stretch far enough. After talking to your creditors until you were blue in the face and maybe working with a credit counseling service, you are still so far in debt that you can't see straight. As difficult as this situation is, it may help to know that it happens to more people than you realize. If it didn't, then Atlanta bankruptcy laws wouldn't be in place. Even knowing that, filing bankruptcy is still a difficult decision to make. You should look on the bright side. Bankruptcy is a financial tool and it's not the end of the world. Here is a look at how things will go if you decide to file bankruptcy in Georgia.
- no more harassing calls and letters
- able to save your home from foreclosure
- fresh start with no debt
- avoid or stop lawsuits
- protect your property
- avoid or stop wage garnishments
Since we are taking the bright side when it comes to an Atlanta bankruptcy, think for a second about how much you hate answering the phone right now. It's always someone wanting money you don't have. An advantage of either a Chapter 7 or Chapter 13 bankruptcy is that these phone calls stop. The creditors are being taken care of and no longer are allowed to call you or send you letters. If that isn't a bright side of a Georgia bankruptcy, it's hard to say what is. In truth, bankruptcy can give you your life back if there is no other alternative.
In the case of a Chapter 13 Atlanta bankruptcy, another happy thought is that if your home is in foreclosure and you qualify for this type of bankruptcy, a foreclosure is stopped. You will be able to stay in your home and make things right over time instead of having to come up with a huge sum of money all at once for the mortgage company. Fear of losing a home is one of the biggest reasons many people who should consider filing bankruptcy don't. But, bankruptcy does not cost your house, it helps save it!
We have already reviewed some of the advantages of filing bankruptcy in Atlanta, Georgia. However nothing beats the peace of mind you have when you get a fresh start to do things better in the future. That is a great place to be. It's definitely worth the anxiety and stress of bankruptcy to finally be able to breathe again.