When you are stuck in debt and have no choice other than to declare bankruptcy, then you’ll naturally have questions. The good thing is that bankruptcy legislation has changed over the years and it is not as life changing as it once was. As a matter of fact, people are declaring bankruptcy all the time. If you are declaring bankruptcy in Georgia, read through the following information so that you have a better idea of what you are getting yourself into. In Georgia, there are courts for bankruptcy, exemptions for property, and other details that it will benefit you to know about.
When you file for chapter 7 in Georgia, you will find that you have plenty of courts to choose from. These different courts are divided into the following categories: middle district court, northern district court, and southern district court. Each of these different jurisdictions contains many different courts so you will always have one located close by to you. These courts are located in different counties for your convenience. The Georgia Middle Bankruptcy courts are located in the counties of: Athens, Albany, Columbus, Macon, Thomasville, and Valdosta for example.
|If you are in need of legal assistance in dealing with a Bankruptcy, consult with a Bankruptcy Attorney in your area to discuss the details of your case.|
Every state has bankruptcy laws that are just a little bit different. The big difference is when it comes to exemptions. This is basically the property that you are allowed to hang onto without having your creditors claim it. You will find that you will not have to worry about losing your car, home, or precious family heirlooms when you declare bankruptcy in Georgia, as this is protected by law up to a certain amount. Other property that may be declared as an exemption include: insurance, pensions, personal property up to a certain amount, public benefits, tools of your trade, and wages. Be sure to get a detailed list from your attorney, as it is beyond the scope of this article to list everything.
When you are finally ready to file for bankruptcy in Georgia, first you need to contact an attorney. Contact a good attorney that has plenty of experience doing bankruptcies. You will also need to collect a lot of information regarding your personal finances such as a list of major transactions, your monthly living expenses, list of all debts, and all major assets and possessions. If you have any questions on how to find this material, your attorney will be able to help you out.