Title 11 of the United States Code (the Bankruptcy Code), a federal law allows honest debtors to discharge their debts and start life afresh by filing for bankruptcy. While there are many chapters in the Bankruptcy Code, Chapter 7 and Chapter 13 are the most commonly used ones. There are a total of six chapters described in the Bankruptcy Code.
Bankruptcy gives to the honest but unfortunate debtor…a new opportunity in life and a clear field for future effort, unhampered by the pressure and discouragement of preexisting debt. A bankruptcy discharge achieves this goal by freeing a debtor of specific debts and prohibiting creditors from ever moving to recover those debts.
A bankruptcy petition must be filed in a Federal Court. Most part of the bankruptcy process takes place outside the court.
Bankruptcy will discharge most of your debts and give you a fresh start. The following debts however will not be discharged by bankruptcy:taxes; spousal and child support; debts arising out of willful misconduct and or malicious misconduct by the debtor; liability for injury or death from driving while intoxicated; non-dischargeable debts from a prior bankruptcy; student loans; criminal fines and penalties and forfeitures. It does not discharge the debtor from any debt incurred for money, property, services, or an extension, renewal, or refinancing of credit, to the extent obtained by false pretenses, a false representation, or actual fraud, other than a statement respecting the debtor’s or an insider’s financial condition.
Once a debt is discharged in bankruptcy, the creditor cannot enforce the debt against you nor start any collection activity. You need not pay that debt.
Even you can file for bankruptcy if you are an honest debtor who has suffered some unforeseen financial set back. Bankruptcy will give you a fresh start in life. Talk to a bankruptcy attorney. A bankruptcy attorney can help you file for bankruptcy.
Filing for bankruptcy only after you have exhausted all other options. Bankruptcy should be your last option.
From our offices, we help clients in Savannah, Richmond Hill, Hinesville, Chatham County, Bryan County, Glynn County, McIntosh County, Liberty County, Long County, Evans County, Bulloch County, Effingham County, Toombs County, Port Wentworth, Pooler, Garden City, Tybee Island, Bloomingdale, Isle of Hope, Pembroke, Darien, Brunswick, Statesboro, Coastal Empire, Rincon, Springfield, Lyons Vidalia, Claxton, Metter, Swainsboro, Baxley, Jesup, McCrae, Valdosta, Waynesboro, Wrightsville, Fort Stewart Army Base and Hunter Army Airfield.
We can help you file for bankruptcy. Call for a consultation.