Our primary goal is to help consumers and small businesses in North Georgia and the Atlanta area utilize bankruptcy law to discharge debts, become debt free, and maintain a debt-free lifestyle. We practice bankruptcy law because we believe that the legal profession is one that was built upon the spirit of public service, fairness, and integrity. To us, being lawyers means that we can serve and advocate for individuals who cannot always stand up for themselves. That is why we strive to serve clients honestly, ethically, and zealously, no matter how big or small the matter is.
Bankruptcy matters that we handle:
Bankruptcy is a legal vehicle by which individuals or corporations can consolidate or discharge their debts that they are unable to pay. Bankruptcy was enacted as a federal law to allow such debt relief.
The filing of a bankruptcy case with the assistance of an Atlanta bankruptcy lawyer initiates what is known as a "stay," which is a court order that protects debtors from creditor collection actions. Creditors may not seek payment of money or other property from the debtor.
There are two types of individual bankruptcies: Chapter 7 and Chapter 13. Chapter 7 is what is known as the liquidation chapter of bankruptcy. Debtors' assets are subject to liquidation by a bankruptcy trustee, who is responsible for administering the case. Most individuals who file bankruptcy do not have assets that can be sold or liquidated because they have "exemptions" or protections for property that prevent such action.
Chapter 13 bankruptcy is the consolidation of debt into one monthly payment. Chapter 13 allows individuals to catch up on arrears for their mortgages, car notes, and other debts. Depending on income, a debtor can pay between 0 and 100% of his/her unsecured debts. The general rule of thumb for secured debts attached to property is that if you want to keep the property, then you have to pay for it. Both Chapter 7 and Chapter 13 provide interesting ways to lower interest rates on loans, change the status of a loan from secured to unsecured, and redeem property for fair market value. Bankruptcy is also a complex area of law that requires the assistance of an Atlanta bankruptcy attorney.
If you have a question about bankruptcy, we offer complimentary consultations with an attorney. Please call us at (404) 585-0040 to set up an appointment. We serve clients all over the state of Georgia, and our offices are in Atlanta.
In every single case, our services are completely free if you do not decide to file. In other words, we only charge money if you decide to use our services. Also, in many cases, you can file your case for no money down.
Filing chapter 7 bankruptcy can instantly stop wage garnishment, as can filing chapter 13. Also, in many cases, wages taken in the 3-month period prior to filing bankruptcy (called the preference period) can be fully recovered. Further, our Atlanta bankruptcy law firm provides no-money-down, emergency filing to stop garnishment immediately. In many cases, utilizing an Atlanta bankruptcy attorney is the only way to successfully stop wage garnishment short of paying the amount in full. Depending on your particular financial position, we can advise on which bankruptcy chapter will yield the most successful results.Foreclosures
If you are facing the prospect of home Foreclosure, Atlanta bankruptcy law provides several mechanisms to stop the foreclosure process and repay the amount owed to the lender. Filing chapter 7 bankruptcy can slow down a foreclosure, but provides only a temporary solution; filing chapter 13 bankruptcy stop foreclosure and provides a vehicle for repaying the debt owed a mortgage lender in 5 years or less.Car Repossession
Filing bankruptcy in Atlanta can completely stop automobile repossession. Alternatively, if your car has already been repossessed, filing bankruptcy in Atlanta can get your car back, usually within 48 hours. Both chapter 7 and chapter 13 bankruptcy provide methods of cramming down car loans, and chapter 13 allows debtors to modify car loans, paying the loans back over a 5-year period. In order to recover a vehicle already repossessed, there are several requirements: 1. The vehicle must still be in the possession of the lender or a lenders agent (if your car has been sold to a 3rd party, it is too late to get it back. However, debtors in Atlanta usually have a minimum of 10 days from the date of repossession to file bankruptcy and get their car back); You must have active, full coverage insurance on the vehicle and 3. You must have a steady income, so you are able to make monthly payments, -or- you must be able to pay the entire fair market value of the vehicle. Call us to inquire about details.Asset Protection
The primary reason people file Bankruptcy in Atlanta--and in general--it to protect assets from creditors. This includes wages, residences, whether you live in an apartment or own your home, vehicles, home businesses, bank accounts, home furnishings, jewelry, retirement accounts, or literally any other asset in your possession. If you do not have any assets, you probably do not have a need to file bankruptcy. Likewise, if your income is exempt from garnishment or levy, your need to file bankruptcy is limited. Our firm specializes in planning and asset protection, to keep your wages and valuables permanently out of reach of creditors.Taxes
Many types of consumer tax debt is dischargeable in bankruptcy. When income taxes are filed on time and over 3 years have passed since they were last due, they can be completely discharged in either chapter 13 or chapter 7 bankruptcy. Sales tax and property taxes are also potentially dischargeable. However, trust tax, sometimes referred to as withholding tax, is never dischargeable. Our firm works in with an associated tax law firm to resolve non-dischargeable taxes after a discharge.Student Loans
Student loans are essentially never dischargeable in Atlanta bankruptcy. While there are exceptions, the exceptions are so rare in Georgia that it basically never happens. Despite this, bankruptcy can offer some limited solutions to dealing with garnishment based on student loans. We also advise on strategies to reducing student debt through payment plans, including income based repayment.Credit Score Rebuilding
There is no magic trick to re building your credit score. It’s a process that takes time and effort. CMC Law assists clients to rebuild their scores after receiving a discharge, free of charge.Chapter 7 for Small Business Owners and High-Income Earners
CMC Law specializes in business bankruptcy and bankruptcy cases for high-income earners. If you own a failing business, or if you think you are ineligible for bankruptcy based on income, contact CMC Law to inquire about your rights. You may be surprised to learn you qualify for chapter 7.