Bankruptcy Law in Georgia

There are many reasons why people file for bankruptcy discharge in Pembroke GA. Contrary to common belief, the only people who file for bankruptcy are not just individuals who cannot control their spending, maxed out all of their credit cards, or purchased a home or a vehicle that they could not afford and now find themselves unable to pay their debt. The truth of the matter is that there are many people who are hard-working, money-conscious, and frugal who find themselves speaking to a bankruptcy lawyer.

One of the biggest challenges that have led individuals to file for bankruptcy is medical bills. Being sick long-term in the United States is exceptionally expensive. It is not uncommon for a person to walk away from a long-term illness with expenses that amount to hundreds of thousands of dollars.

Another reason why people file for bankruptcy is that they lost their job. They may have been with the same firm or the same company for 20 or 30 years. And then as a result of downsizing or economic downturns, they lose their job and find themselves relying on their savings to pay their day-to-day expenses. Before they know it, their savings are gone, debt is mounting, and bankruptcy is their only option.

Our bankruptcy lawyers understand the varied situations that lead people to file for bankruptcy. We understand that in addition to the financial challenges bankruptcy presents, there are the emotional challenges that come with it as well. For this reason, as we help guide you through the bankruptcy process, we do so in a way that is direct and straightforward, yet tactful and preserves your sense of dignity.

What are the Benefits of Bankruptcy Discharge in Pembroke GA?

There are four basic benefits of bankruptcy. First, creditors are no longer allowed to bother you for debt collection. Their annoying phone calls, their letters, and other attempts to repossess your property stop. Some of these efforts stop permanently, while others stopped temporarily.

The second benefit is that in many cases bankruptcy leads to the discharge of debts. This means that most credit card and medical debts, as well as other types of debts, are extinguished.

A third benefit is that a person filing for bankruptcy can usually protect or exempt some of their property from the creditor's claims. Exemptions vary depending on the situation. One of our trained attorneys can help you see how these exemptions may apply to your particular case.

The fourth benefit of bankruptcy is that it allows you to reorganize your finances. For example, Chapter 13 bankruptcy allows an individual to pay off their debt over an extended period of time, usually maxing out at five years.

Chapter 7 Bankruptcy Versus Chapter 13

Chapter 7 bankruptcy is designed to provide individuals with a fresh start. Often times, this form of bankruptcy is referred to as a liquidation because any nonexempt assets a person has is converted into cash to pay off debts.

Chapter 13, on the other hand, is a stopgap type of bankruptcy. It is designed to provide protection for individuals who have short-term setbacks but who in the future will be in a position to begin to repay their debts and catch up on past payments.

How the Lawyers at John Pytte, PC Can Help You with Your Chapter 13 and Chapter 7 Bankruptcy

Here at John Pytte, PC in Savannah and Hinesville GA, we are happy to provide our clients and potential clients with a free consultation to discuss bankruptcy discharge in Pembroke GA, Savannah GA, and surrounding areas. We will look at your case and clearly explain to you the rights you have and let you know whether or not Chapter 7 or Chapter 13 protection is right for you.

Our Clients Come From All Walks of Life. We Specialize in Helping Individuals who:

  • Have little to no income

  • Have little residual cash after paying monthly expenses

  • Do not own a home or have little equity in their home

  • Have very few assets or who have no assets at all

We warmly invite you to contact us by calling or visiting our office in Savannah or Hinesville, GA. Let us use our years of experience to help you identify the right form of bankruptcy for your situation and to help you get on the road to repairing your financial life.