Legal Question in Bankruptcy in Georgia

Re: bankruptcy vs foreclosure

There's not a way to fully answer you without seeing your financial information, but there are many possible advantages to bankruptcy including (1) that you deal with all your other debts, (2) you avoid the possibility that the lender could sue you for more money after foreclosure, and (3) you may in some cases avoaid an increase in your income tax due to the lender reporting the foreclosure on a 1099. Additionally, you may delay the foreclosure giving you more time to move.

If you are in metro Atlanta and thinking of bankruptcy, get our free worksheet at www.glenashman.com and then call us.

Thank you.