Over the years, Gainesville, GA has earned its reputation as “The Hospitality Capital of the World”. Visitors come to Gainesville year round to enjoy fun in the sun on Lake Lanier and to explore the fantastic forests and parks. At C. Golden & Fleming we are proud to be a part of this close knit community and our bankruptcy attorneys work hard to help people who are in serious financial crisis.
How can a Chapter 13 filing or a Chapter 7 bankruptcy help?
Each type of bankruptcy has different terms and conditions but they offer the same level of protection. If you are in trouble with your creditors and you need some breathing room, a personal filing will put a stop to:
- Car repossession
- Home foreclosure
- Wage garnishments
- Creditor harassment
- Tax debt
A bankruptcy gives you this protection by putting an “Automatic Stay” into effect. It is an injunction that prevents your creditors from pursuing any collection efforts during the bankruptcy process.
Will a bankruptcy ruin my credit?
In the short term, yes. But if you are considering bankruptcy then your credit has probably already been severely damaged. In the long term, a bankruptcy is often the only way you will be able to build back up to clean credit and get a fresh start on your life. Your filing will help you erase your debt or pay your debts off over time depending on whether you file for Chapter 13 or Chapter 7. Once you have a clean slate, you can slowly start rebuilding your credit through small loans and low limit credit cards.
To get more details about how a bankruptcy will affect your credit, contact an experienced Gainesville bankruptcy attorney today. A good bankruptcy attorney will schedule you for a free consultation and answer any questions you may have.