The United States Bankruptcy Code is federal law and it affords people who need to file for bankruptcy many protections. In our articles we often share that bankruptcy is a powerful legal tool – and we really mean it. Bankruptcy law has the power to stop lawsuits from moving forward. Bankruptcy law grants debtors the ability to get out of contractual obligations without financial penalty. And filing for bankruptcy is your legal right.
How Can Bankruptcy Protect Me?
Bankruptcy offers numerous protections. The following will cover a few of the biggest protections bankruptcy offers. To understand all of the ways bankruptcy can benefit you specifically, we invite you to meet with us for a free, no-obligation consultation. We practice exclusively in bankruptcy law and have been for over 35 years. We serve the people of Savannah, GA and the surrounding areas.
Bankruptcy protections include, but are not limited to:
- Erases most unsecured debts: including credit card debt and medical bills.
- Erases certain older tax debts and some other unsecured debts.
- Stops all collection action.
- Stops harassing phone calls from creditors.
- Stop wage garnishments and bank levies.
- Stops lawsuits filed by creditors.
- Can stop foreclosure (at least in the short term).
- Creates an opportunity to catch up on mortgage arrears (Chapter 13 only).
- May create an opportunity for a homeowner to “lien strip” or eliminate a second mortgage (Chapter 13 only).
- Can stop car repossession (at least in the short term).
- Creates an opportunity to catch up on missed car payments (Chapter 13 only).
- Creates an opportunity to catch up on other missed payments, such as back taxes or child support payments(Chapter 13 only).
- Depending on your specific situation you will most likely be able to keep your car and your home. It is more likely that you can keep your car or home if your payments are current and there is no significant equity.
As you can see, bankruptcy offers numerous protections. Filing for bankruptcy may very well be the best solution to your debt problems. However, depending on your specific case, you may still owe on some debts after bankruptcy, such as newer tax debts and student loans. It is important to understand the powers and protections of bankruptcy, and what it can and cannot do for you.
Filing for Bankruptcy Protection
Bankruptcy is a complex and nuanced area of law. Here at the Law Office of Barbara B. Braziel we will make sure you understand the protections and benefits of bankruptcy and how filing with affect you and your family. We take the time to explain the bankruptcy process to our clients. We invite you to get to know us here and read about the clients we’ve helped here.
To have your questions about bankruptcy in Georgia answered, come meet with us for a free consultation. We proudly serve the people of Savannah, Chatham County, Effingham County, Bulloch County, Bryan County, Liberty County, and Long County.
We are a debt relief agency. We help people file for bankruptcy relief under the U.S. Bankruptcy Code.