Frequently Asked Questions About Bankruptcy

Q. 1. What is bankruptcy?

A. Bankruptcy is a process, available to some debtors, pursuant to which debts are either discharged (eliminated) or paid back over time in monthly payments. Bankruptcies are filed in the Federal Court and are under the guidance and supervision of a Bankruptcy Trustee.

Q. 2. Do I qualify for bankruptcy?

A. Not everyone will qualify for bankruptcy; eligibility for bankruptcy depends upon the amount of debt and income in your household, and further the type of debt. The attorneys are Coleman, Chambers, Rogers & Williams, LLP can help you determine whether or not you qualify for bankruptcy or if bankruptcy is in your best interest.

Q. 3. How does the bankruptcy process work?

A. Bankruptcy allows the debtor to eliminate or pay back their debt over a certain time in equal monthly payments. This can helps the debtor by giving them a clean slate a new financial start.

Q. 4. Will this stop the collection calls and the "repo" man?

A. Yes, filing for bankruptcy places a stay on your assets. A stay lets creditors know that you are filing for bankruptcy and they may not take any further action against you regarding your debts.

Q. 5. How does bankruptcy work?

A. Depending on which type of bankruptcy you file (Chapter 7 or Chapter 13), your debts are either discharged or paid back over a period of three to five years. With Chapter 13, you repay your debt through the five year period. With Chapter 7, your debts are discharged (eliminated).

Q. 6. Can I get rid of all of my debt by bankruptcy?

A No, certain debts are not subject to being discharged in bankruptcy. For instance, alimony and debts which are accrued as a result of fraud or criminal behavior by the debtor (such as restitution from a theft case) are not dischargeable in bankruptcy.

Q. 7. Will filing bankruptcy affect my credit?

A. Filing for bankruptcy will negatively affect your credit score. It should be remembered, however, that credit scores change over time and your credit can be rebuilt over time.

Q. 8. Is there a fee for my initial consultation?

A. No, initial consultations are free. At the initial consultation, the attorney will answer question you may have regarding bankruptcy and can help you decide whether, and what type of bankruptcy may be appropriate for you.

Q. 9. How long do I have to decide to file bankruptcy?

A. The decision as to whether or not to file bankruptcy is an important one and should not be made impulsively. The decision does not have to be made at the initial consultation, and you may take home information from our office to discuss with your family before making a decision. There is no time limit on making the decision to file bankruptcy.

WHY Coleman, Chambers, Rogers & Williams, LLP?

There are many firms that will offer bankruptcy counseling and bankruptcy filing services. Many of these will treat you like a number and not like an individual. At Coleman, Chambers, Rogers & Williams, LLP we strive to treat each of our clients with dignity and respect. We offer a courteous and friendly staff and attorneys who are available to speak with you about your issues. Call Coleman, Chambers, Rogers & Williams, LLP today at 678-928-5757 and give Coleman, Chambers, Rogers & Williams, LLP an opportunity to earn your business.

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"We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code."