Skip to main content

People who have never had to file for bankruptcy protection may not understand what it is like or what to expect. This blog will provide some information about the process and some tips for those considering filing for bankruptcy.

When you file for bankruptcy, an automatic stay goes into effect. This stay will stop any creditor action against you, including foreclosure and wage garnishment. It is important to know that there are different types of bankruptcies and each one has its own requirements and procedures.

The most common type of bankruptcy is Chapter 7. This type of bankruptcy is for individuals who have a lot of unsecured debt, such as credit card debt or medical bills. In order to qualify for Chapter 7, your income must be below a certain level and you must pass a means test. If you do not qualify for Chapter 7, you may still be able to file for Chapter 13.

Chapter 13 is a repayment plan bankruptcy. You will need to have a steady income and your unsecured debts must be below a certain amount. The plan will last between three and five years and during that time you will make monthly payments to your trustee. Once the plan is completed, any remaining debt will be discharged.

There are also special types of bankruptcies available for businesses and farmers. It is important to consult with an experienced bankruptcy attorney in order to determine which type of bankruptcy would be best for you.

Filing for bankruptcy can be a difficult decision, but it may provide you with the relief you need from your debts. There are many things to consider before filing and it is important to speak with an attorney who can guide you through the process.

“Mr. Lovett was our lawyer, and he is a superb attorney. His company made the process less stressful, and he was transparent about our situation. He is easy to reach, so you can expect update as much as you need them. I recommend Kelley Lovett, Blakely, and Sanders to all my friends and family. Thank you- your clients Keith and Sheri”

If debt is making you feel overwhelmed, we’re here to help put your mind at ease.

Contact us today to speak with a bankruptcy specialist.

Schedule A Consultation

Albany, GA

2539 Lafayette Plaza Dr.

Macon, GA

577 Mulberry St. Suite 1525

Valdosta, GA

2912-B North Oak Street