If you are filing under chapter 7, you will end up getting most of your debts discharged but only after most of your assets are sold off (liquidated). The state of Georgia however offers some relief for the person who is getting bankrupt by allowing him/her to exempt properties up to a certain limit. But, considering the complexities involved with these laws, it is often better to get help from an experienced Atlanta bankruptcy attorney. Even if you are not living in Atlanta, as long as you are residing in the state of Georgia, you can have an Atlanta lawyer as your legal representative.
Atlanta Bankruptcy Attorneys And Property Exemptions
August 12, 2010 By
Getting bankrupt is something that causes nightmares for people, especially those who are residing in Atlanta, as the laws regarding such cases in this place are not very favorable to the debtors. That is the reason why it is always wise to get help from Atlanta Bankruptcy Attorneys, as they are experts in this field. If you are filing under chapter 7, most of your assets are going to be liquidated in order to get money so that the creditors can be paid back. Like every other place in the United States of America, Atlanta also has certain provisions regarding property exemptions, as per which debtor is allowed to keep some of the assets and properties even in chapter 7 bankruptcy.