Frequent Questions

Coastal Georgia Bankruptcy was established with the mission of helping people through periods of financial hardship and stress. We also believe in providing a supportive environment to discuss difficult legal and financial issues. Our first concern is always for the client. With over 20 years of bankruptcy experience, we will work closely with you to create a personalized financial strategy addressing your specific circumstances. Contact Coastal Georgia Bankruptcy today so we can help you take the first step to a new tomorrow – it's easier than you think!

Bankruptcy is a federal court process that allows debtors to eliminate and/or reorganize their debts, providing legal protection for those struggling or unable to repay their obligations.  The goal in most bankruptcies is to receive a discharge, which eliminates debtors’ liability on certain debts and prohibits creditors from collecting debts against them. Some debts are not dischargeable, so you need an experienced bankruptcy attorney to guide you through the process.

If you meet the eligibility requirements for both types of bankruptcy, then you can choose the type of bankruptcy that makes the most sense for your situation. However, you may not have a choice. Chapter 7 is a popular choice because it is relatively quick and, unlike Chapter 13, it doesn't require filers to pay back any portion of their debts. However, not everyone qualifies to file for Chapter 7 bankruptcy and in some cases Chapter 7 doesn’t provide the help many debtors need. Chapter 13 is a popular choice if you have regular income and you want to protect valuable property from possible repossession or foreclosure. A Chapter 13 bankruptcy allows you to keep your property, cure arrearages and reduce your debts, offering an excellent alternative for those who do not qualify for Chapter 7. The requirements for eligibility and determining which type of bankruptcy is right for you can be complicated, so contact the experienced attorney at Coastal Georgia Bankruptcy to form a strategy to reset your financial future.

At Coastal Georgia Bankruptcy all consultations are FREE, so there is no cost to contact our office and learn what options are available to resolve your financial issues and eliminate the associated stress.  An advantage to filing Chapter 13 is that most cases do not require any money down and attorney fees are paid along with other obligations through your Chapter 13 Plan.  The attorney fees in Chapter 7 cases vary depending on the complexity of each case and are generally paid before filing. At Coastal Georgia Bankruptcy we are committed to working with our clients to tailor our fees to your particular case and budget, making sure you have the chance to reset your financial future on payment terms that fit your financial situation. 

Usually, only those people you choose to tell.  While bankruptcy filings are a matter of public record, most people are not searching for it.  If you’re worried about people knowing about your financial difficulties, don’t tell anyone, and they likely won’t find out.  After all, it’s really none of their business.

In Chapter 13, you get to keep all of your property. In Chapter 7, while there is a chance the Trustee could try to sell property, debtors are often pleasantly surprised to learn that they will be able to keep all of their property, either because it's exempt or because it isn't worth enough to cover the cost of taking it and selling it. It is important to know what property is off-limits from creditors and the trustee, so make sure you contact an experienced bankruptcy attorney that will eliminate your debts while also protecting your important assets. 

If you are married, you can file an individual bankruptcy case without your spouse. While there is almost no additional cost for a spouse to join in a bankruptcy case, there is no requirement that they also file. 

The point of filing for bankruptcy is to give yourself a financial fresh-start by getting out from under your debts. Whether you file a Chapter 7 or Chapter 13 bankruptcy case, many types of debt will be discharged at the end of your case. When a debt is discharged, you will no longer have any liability to pay for that debt, and creditors are prohibited from the collection of a discharged debt.  However, some debts, such as child support and spousal support, student loans, criminal fines, and restitution, are not discharged through bankruptcy. Further, while debts are discharged through bankruptcy some creditors may retain liens on certain property. Therefore, it is important to contact an experienced bankruptcy attorney to make sure your debts are discharged, so you can reset your financial future.

Your credit will likely be affected if you file for bankruptcy, but there is good news too. If you do not have great credit, to begin with, once your debts are discharged, your credit score may start to improve not too long after bankruptcy and the impact of a bankruptcy filing lessens over time. Further, after bankruptcy, you will be better positioned to manage creditor obligations wisely and build your credit score, without having the overwhelming arrearages, credit balances, and interest charges that led you to seek bankruptcy protection. 

Yes, you will be able to apply for and get a loan after receiving a bankruptcy discharge. It is important to start rebuilding your credit and continue paying your ongoing obligations on time after completion of your case.  Your most recent actions have a bigger impact on your credit score than negative events from the past, so the effect that bankruptcy has on your score will diminish with each year that passes.

If you’re facing serious debt problems, filing for bankruptcy can be a powerful tool. It stops most collection actions, including telephone calls, wage garnishments, lawsuits, foreclosures, repossessions, or other collection actions. When you file for bankruptcy, a court order called the automatic stay immediately stops most civil lawsuits filed against you and most collection actions being taken against your property by creditors, collection agencies, or government entities.