Legal Question in Bankruptcy in Georgia
Property and types of bankruptcy
I am considering filing bankruptcy. I have steady income, divorce, and my only assest is a used car. I have tried researching the codes to decide the best chapter for me however, I have difficulty understanding the language and terminology used. I believe the best one for me would be chapter 13. My questions are this:
1. In this must I sell my car to release cash to my debtors? (It maybe worth $2000-over ten years old.) Plus, I must have reliable transportation for my employment. 2. The basics of chapter 13--or someplace I may go which explains it in "lay-person" language.
Thanks
2 Answers from Attorneys
Chapter 13 or Chapter 7 - or neither
Why do you want to file bankruptcy? Maybe it's better that you don't file, at all. I would suggest looking through the answers to bankruptcy question here, on the BBS, then see if there are still any questions.
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Bankruptcy - see a lawyer
Bankruptcy is acomplex area of the law. It isabout as wise to try to do this yourself as itis to perform surgery on yourself. See a competent bankruptcy lawyer, who will discussyour circumstances with you, advise you on what Chapter (if any) to file under, and answerthese and any other questions you may have.It is doubtful that you would lose your car, and in your circumstances Chapter 7 may be thebetter option.
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