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Protect Your Assets from Creditors

Effective legal protection for your treasured belongings

Let our experienced bankruptcy lawyers in Atlanta show you how to protect your property from your creditors. If you have debt trouble and don't want to lose your house, car and other possessions, a DebtStoppers bankruptcy plan could be the best option for you.

When you take out a loan to buy something, you enter into a legal contract with the creditor. You agree that in exchange for making the purchase, you will make timely installment payments until the loan is paid off. If you default on a payment, the creditor has the right to reclaim the purchase. In these difficult economic times, many hard-working people have been unable to afford their installment payments. They may even be facing foreclosure on a home that they have lived in for years. This is especially frightening in the state of Georgia, where a creditor can sell your home in just 30 days. People who have been responsible all their lives should not have to lose their house due to an economic downturn.

Bankruptcy provides legal protection for your property

Our asset protection firm in Atlanta can help you avoid losing your most prized possessions. The solution is to file for bankruptcy. If you have debts as an individual, you may file under either Chapter 7 or Chapter 13. Either one will grant you an automatic stay, which temporarily prevents creditors from being able to reclaim your property. Under Chapter 7, a debtor must list all possessions, and a court-appointed trustee decides which ones are "exempt" and "non-exempt." The non-exempt items are liquidated to pay off creditors, discharging the debt. Those who choose Chapter 7 risk their assets being labeled non-exempt and sold. However, Georgia has an increasingly liberal exemption law, making it possible that your assets could be off-limits. In fact, most of our clients don't lose anything when they file.

Chapter 13 allows you to restructure your debts, so that you can pay them off over three to five years in more affordable installments. Unlike Chapter 7, unless you default on your payments, you never risk losing your assets under Chapter 13.

See a knowledgeable Atlanta lawyer about protecting your assets from creditors

DebtStoppers has helped thousands of families stay in their homes and keep their belongings. Make an appointment for a free, one-on-one debt analysis — and find out what we can do for you. Just give us a call at 404-796-7161 or contact our Atlanta office online.