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What to Expect When Filing for Bankruptcy

The issue of bankruptcy became central a few years ago during Atlanta’s heated city council race between H. Lamar Willis and Andre Dickens. Dickens took fire from the Willis campaign over his $1.1 million bankruptcy filing. This tactic ended up backfiring, however, as Dickens was quick to point out his bankruptcy was the responsible course of action, contrasting it with Willis’s own embezzlement of roughly $30,000 from a civil suit client, which led to his disbarment from legal practice in Georgia.

The best way to deal with bankruptcy, as with most financial concerns you may have throughout your life, is to address the problem directly. Filing for bankruptcy relief may require a decent amount of preparation on your part, but it can prevent you from suffering more serious consequences down the line.

When filing for bankruptcy in Georgia, you are required by law to obtain credit counseling not more than six months prior to filing your claim. You can only receive this credit counseling from agencies approved by your regional trustee.

In addition to pre-filing credit counseling, you must also complete a debtor education course after you file. Upon completing this course, you will receive a certificate, which you must file with the bankruptcy court.

As you likely know, filing for bankruptcy has had an unfortunate social stigma attached to it. However, it is a vital tool that countless Americans use every year to deal directly with their debt. In fact, in many situations, it’s the responsible thing to do. Filing for bankruptcy is an effective way to improve your credit score far more quickly than you tried to pay your debt off over time.

If you are facing the threat of bankruptcy, you should approach it directly, rather than digging yourself in a deeper hole. A Debtstoppers bankruptcy lawyer will help you get control of your debt and set you on a path toward future success. 

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