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Should I File a Georgia Chapter 7 Bankruptcy Immediately?

Posted by Cha'Ron Ballard on July 5, 2019

Should I File a Georgia Chapter 7 Bankruptcy Immediately?

The decision to file for Chapter 7 bankruptcy is not easy – it will have a negative impact on your credit in exchange for a fresh financial start. However, if you have decided it is inevitable to declare bankruptcy in Georgia, the next important decision to make is when to file. In some situations, filing your bankruptcy petition may be the wisest move, protect more of your assets, and give you peace of mind. We will explore factors and situations to consider when determining the timing of your bankruptcy.

Filing Bankruptcy As Soon As Possible

Falling behind on bills is stressful enough even before you factor in unpleasant creditor phone calls and increasingly drastic and distressing collection techniques such as repossession, foreclosure, and lawsuits seeking wage garnishment or bank levies. Filing a bankruptcy petition as soon as possible in Georgia can stop you from losing money or property needlessly in several ways:

  • Halts Legal Proceedings Against You

Filing bankruptcy in Georgia can stop the lawsuit of a creditor that has sued you to collect on your debt – if the case has not already resulted in a court-issued judgment against you. If that has occurred, creditors may have greater legal rights to take your property.

  • Prevents Bank Levies and Garnishment of Wages

Two unpleasant ways creditors collect on your debt using the legal system are wage garnishment – requiring you employer to deduct money from your paychecks to satisfy your debts, and bank levies – an order forcing a bank to transfer money from your accounts for the same reason.

If a creditor sues for a judgment seeking wage garnishment or a levy of your bank accounts, filing a bankruptcy prior to a court-issued judgment in their favor will prevent these consequences from occurring and stop the legal proceedings from continuing. The bankruptcy will also wipe out these existing debts.

  • Delaying Eviction and Foreclosure

Filing your Chapter 7 bankruptcy petition in Georgia will stop evictions if the landlord or creditor has not yet obtained a judgment against a debtor. Filing will also halt foreclosure proceedings, allowing you extra time in your residence. Unfortunately, for both foreclosure and evictions, because Chapter 7 was not designed for you to keep your home, the relief will most likely be temporary.

Find Out if a Chapter 7 Georgia Bankruptcy Is Best for You Right Now

Nobody ever looks forward to filing bankruptcy, but in some circumstances deciding to do so sooner rather than later is the best decision. To learn whether an early Chapter 7 bankruptcy is right for you, contact the experienced Georgia bankruptcy attorneys at The Ballard Law Group. We offer a free bankruptcy consultation to help you understand how the timing of your bankruptcy can work in your favor. Contact us today by calling 404-220-9906, booking an appointment online on our contact page, or chatting with one of our available representatives.


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Contact The Contact The Ballard Law Group for Debt Relief or Fill Out Our Questionnaire

We offer two convenient locations for appointments with our attorneys—Atlanta, GA and Lawrenceville, GA. Call us today at 404-220-9906 in Lawrenceville, GA or 404-220-9916 in Atlanta, GA or fill out the form and get started on the road to financial relief with a free initial consultation.

Our Locations

The Ballard Law Group

3664 Club Drive, Suite 203 A Lawrenceville, Georgia 30044

Phone: 404-220-9906

Fax: 404-220-9907

The Ballard Law Group

3355 Lenox Road, Suite 750
Atlanta, Georgia 30326

Phone: 404-220-9916

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