A new year, and a new decade, are upon us. With every new year, many people focus on New Year’s resolutions and goals they have for the upcoming year. If you are in a difficult financial situation, you may be considering making financial goals to help you get to a better place. If your debts have become overwhelming, filing for a Georgia Bankruptcy may be the best option to help you achieve your goals of financial stability.
How Bankruptcy Can Help
Often times, bankruptcy is associated with financial failure or giving up. However, a bankruptcy can in fact be the total opposite—it can be a way to a more secure financial future and the responsible choice to make when debts are piling up. If you are setting goals to get out of debt or better your financial situation, here a few ways bankruptcy can help:
- Bankruptcy can discharge debts: Filing for bankruptcy can be very beneficial because it can discharge, or wipe away, many of your debts. When you file a Chapter 7 Bankruptcy, your assets will be liquidated to payback your creditors. Any unsecured debt will be discharged. Without the overwhelming burden of past debts, you can be in a better position to change your financial future.
- Bankruptcy can give you more time to pay debts: If you would like to keep your assets, filing for bankruptcy can still be a good financial move. A Chapter 13 bankruptcy will allow you to keep your property but gives you more time to pay back your debts by creating a debt repayment plan. Through this plan your debt will be consolidated, and you will make payments for 3-5 years. Following this specific plan can be a helpful way to achieve the goal of financial security.
- Bankruptcy can lead to a better financial future: Bankruptcy shouldn’t be considered the end, but rather the beginning—the beginning of a more secure financial situation. Having a fresh start to your financial situation can help you move forward and set goals to avoid your financial mistakes of the past. You can learn a lot about avoiding debt and set goals to follow a budget and live within your means in the future.
Start the New Year Off Right—Talk to a Skilled Bankruptcy Attorney
If your New Year’s resolutions include taking steps to a better financial future and getting out of overwhelming debt, you should speak with an experienced bankruptcy attorney at the Ballard Law Group. We have years of experience helping clients through the bankruptcy process so that they can have a fresh start and get back on their feet financially.
The New Year is a great time to set goals and then take action to make them a reality—you can start taking steps toward a better financial future today by calling (404) 220-9906 to schedule your free bankruptcy consultation. We can discuss your situation and how bankruptcy can help you achieve your financial goals. Call us today!