Legal Question in Bankruptcy in Georgia

Re: I'm in Debt Up to My Eyeballs. Is there a deadline?

There is no deadline to file, but the rules do chance in October and there will be more stringent requirements to file. Many people who now qualify for a Ch. 7 will have to file a Ch. 13 after October, plus you will have to pay for credit counseling.

You will need to speak with a lawyer to discuss your situation. You can check our site at www.atlantabankruptcylawyer.net for more information about the new laws, and filing in general.

Re: I'm in Debt Up to My Eyeballs. Is there a deadline?

Congress has enacted a new Bankruptcy Code, which will go into effect October 17, 2005. As a general rule, the new law will make it more difficult and expensive to go bankrupt, and will reduce the benefits of filing. If you are planning to file bankruptcy, delaying filing may be a bad choice. Since the exact effects of the new bill will depend on the rules set up by the Courts, and on future court decisions, the impact and scope of the changes is difficult to fully assess. It will be easier for creditors to challenge a Chapter 7 filing. It is fairly clear that some people who can now file a Chapter 7 will no longer have that option.

If you are thinking of any type bankruptcy (Chapter 7 or 13) it is very important that you see a lawyer immediately to assess if filing will help you. You can download a free worksheet at www.glenashman.com that will help me assess your situation and then call me at 404-768-3509 for a consultation.

My office has 25 years experience in bankruptcy and some of the lowest fees in metro Atlanta.

Re: I'm in Debt Up to My Eyeballs. Is there a deadline?

The deadline that you may be speaking of is October 17, 2005 which is the date that the 2005 Bankruptcy Reform Act becomes effective. After this date, the bankruptcy rules change and you may or may not be able to file a chapter 7 case. Best thing to do is call an attorney for help before October.