For many people, debt is simply a fact of life. These days, it is harder and harder to provide a comfortable life for yourself and your family without incurring debt of some kind. Debt can quickly get out of hand when high interest rates, late fees and other penalties pile up.
At the firm of George R. Belche, Attorney at Law, we help people in Georgia get relief from high interest debt and other financial issues by filing for personal bankruptcy. Whether you are having difficulty because of job loss, an unexpected medical expense, or simply allowed your spending to get out of control, we are ready to assess your situation and help you get the relief you need.
To schedule a free initial consultation with an experienced attorney, call (770) 963-3117.
Bankruptcy as a Solution to Debt Problems
Credit card debt is typically the highest interest debt a person incurs. In 2009, the Credit Card Act was passed in an effort to protect consumers from credit card companies. The law prohibits card companies from arbitrarily raising interest rates. This provides some help, but the truth is that many debtors miss payments, and then the companies are allowed to raise rates astronomically high.
If you are struggling to make minimum payments and high interest rates or are being charged late payment fees, bankruptcy may be the right choice for you. When you come to us, we will evaluate your situation and advise on the type of bankruptcy that fits you best.
- Chapter 7 bankruptcy : This form of bankruptcy can provide relief from high interest debt by eliminating it completely. Filing Chapter 7 will stop creditor harassment, stop wage garnishments and give you the fresh start you need. Most credit card debt can be erased in Chapter 7, but there are exceptions, so it is important to consult with an attorney.
- Chapter 13 bankruptcy : For those with some ability to pay, filing for Chapter 13 could be the best option. In Chapter 13, all unsecured debts, including high interest credit cards and personal loans, are grouped together for repayment. Most importantly, the payments you make are applied to secured debt like mortgages first. All unsecured debt is deferred until you are caught up on the secured obligations. At the end of the repayment period, remaining unsecured debt is eliminated.
Contact a Gwinnett County Lien Stripping Attorney for a Free Consultation
If you are facing overwhelming debt and cannot get caught up, there is hope. At the bankruptcy firm of George R. Belche, Attorney at Law, we are happy to offer a free initial consultation to discuss how we can help. Call (770) 963-3117. You can also contact our law firm online.
"We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code."