The decision to file for bankruptcy is a difficult one. Not only are you dealing with the stresses of debt, but you’re also concerned about how a bankruptcy claim might affect you in the future. You may also be confused about your options. Should you file Chapter 7 or Chapter 13? Bankruptcy attorney Sarah Tipton-Downie would like to share the following information about Chapter 7 bankruptcy.
In general, filing for Chapter 7 bankruptcy means that your debts will be discharged—but you’ll have to give up the property in question. If you’re behind on your car payment or mortgage and file Chapter 7, your creditors can take your house or vehicle from you. Many people choose not to file Chapter 7 because they want to hold on to their property. If this applies to you, you may want to consider filing Chapter 13. (Check back next week to learn more about this option.)
Of course, the best thing to do is to work with a qualified bankruptcy attorney like those at the Law Office of Tipton-Downie. We help people who need debt relief. Our personal service and attention to detail has helped us successfully represent many clients throughout Southern Georgia. Call our Vidalia, GA office to schedule your initial consultation.