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EFFECTS OF BANKRUPTCY

The most common concern among individuals filing for bankruptcy is the forfeiture of assets such as homes and vehicles. In the state of Georgia, filing for bankruptcy before a foreclosure or a repossession takes place will prevent those forfeitures and they cannot proceed without prior permission from the Bankruptcy Court. In fact, filing Chapter 13 bankruptcy can even force a creditor to return a vehicle that has already been repossessed.

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Depending on the type of bankruptcy you file, the effects of bankruptcy can look quite different. In Chapter 7 bankruptcy, there is not likely to be many non-exempt assets. This means that most individuals and married couples who file Chapter 7 retain their property and discharge most, if not all, of their other debts. In Chapter 13 bankruptcy, which focuses on the reorganization of a debts, ownership of assets with significant equity, such as homes and vehicles, can almost certainly be retained.

The most notable effect of bankruptcy is that your creditors will be able to report it on your credit report for up to 10 years from the date you filed your case. While this can make it harder in the short term to secure loans and financing at favorable rates, it does not preclude you from borrowing in the future, and for this reason should be considered a small concession in the pursuit of eliminating one’s debt obligations.

You may be worried about the effect of bankruptcy on your personal and occupational life. However, pursuant to the United States Bankruptcy Code, employers cannot discriminate against those who file solely on the basis of having filed for bankruptcy.

SEE WHAT OUR CLIENTS SAY

Matthew Duncan and his whole team are absolutely phenomenal. They will always be my go to people when I need help, they are amazing. The receptionist is extremely friendly and helpful as well. I recommend them with 5 stars and I’d give more if it were an option.
I was nervous about filing bankruptcy but they made the process easy and explained it in a way I could understand. The office assistant has excellent customer service skills and answers all my questions every time I call.
Matt really cares about his clients and does everything he can to help them out of their current situation.
I’m an attorney in the Augusta area and I routinely refer clients who need assistance in bankruptcy matters to Matthew Duncan. Mr. Duncan is always honest, professional, and a true advocate for his clients. I trust Matthew Duncan and you should too.
Very responsive bankruptcy attorneys who accommodated me every step of the way!
Everyone there is awesome, helpful, understanding, and made me feel like they they truly care about my situation. I got put into a bad situation by no fault of my own and they went out of their way to work with me. Always got a quick response from Jackie and Nikki (their two paralegals) and Mrs Brow. Definitely recommend.
Amazing team, kept us informed and felt they cared about our immediate and future goals.
I highly recommend Duncan and Brow. They are extremely easy to work with and quick to respond. Mrs. Brow makes everything so uncomplicated and efficient. She is also sympathetic and understanding. Jackie, the paralegal is very efficient as well and so pleasant to work with.
Matt Duncan is a great and reputable attorney in our community. I would definitely endorse utilizing his services.
Every single last person I spoke to here treated me with respect, was incredibly professional and I am lucky and blessed to have chosen to help my family through this difficult time. I will forever be indebted to the wonderful women within this establishment thank you from the bottom of my heart! I will recommend this law firm to all that are in need!!! To all of those that work here stay blessed, stay safe and stay just the way you are…. Kind!