Bankruptcy can allow you a fresh start by allowing you to get out of debt while preventing foreclosures, repossessions, garnishments, and more.  Paul Schofield has many years of experience counseling clients as to their options and guiding them through the bankruptcy process.  Below you will find a brief overview of the types of bankruptcies that are available, and situations that you might face that Paul can assist you with.  Bankruptcy consultations are always free, so don’t hesitate to call Paul at 912-275-7018.

Chapter 13 Bankruptcy

A chapter 13 case allows you to keep your assets (such as a residence or a car) while allowing you time to catch up on missed payments over a period of 3 to 5 years.

Chapter 11 Bankruptcy

A chapter 11 case allows a business to continue operating while setting up a plan for restructuring debts and getting back to profitability.

Chapter 7 Bankruptcy

A chapter 7 case can allow certain qualifying individuals to receive a “discharge” of their debts without having to make payments over time.

Should I file for bankruptcy?

That is a question that depends on your unique situation, and Paul Schofield will take the time to go over your options in depth at a free initial consultation. He will never encourage you to file for bankruptcy if that is not your best option. If you are facing any of the following financial issues, you should consider setting up a free initial consultation.

The time between the mailing of a notice that a foreclosure sale will happen and the foreclosure sale itself can be little more than 30 days in Georgia. This is one of the shortest foreclosure processes in the whole country. If you are trying to save your home and have run out of other options, filing a chapter 13 bankruptcy will immediately stop a foreclosure sale and allow the past-due amount to be paid back over 3 to 5 years.
Vehicle Repossession
If you fall behind on payments on your vehicle, it will not be long before a repo man is sent out to find and tow away your vehicle. The stress of not knowing whether your car will still be there when you need it can be great. Fortunately, a chapter 13 bankruptcy can allow you to keep your car while paying what is owed on it. In a lot of cases, you can even reduce the total amount owed to the actual value of the vehicle and reduce exorbitant interest rates.
Wage Garnishment
Under Georgia law, a creditor can take up to 25% of your after-tax wages once they have obtained a judgment against you. Few people can afford that, and filing for bankruptcy will immediately stop a garnishment and protect your much-needed income.
Collections Lawsuits
If you have been served with a collections lawsuit from a debt you owe and cannot pay, time is of the essence. You have 30 days to file an answer to that lawsuit, or else a judgment could be entered and wage garnishments and bank levies can begin. If you have a collections filed against you, call us for a free consultation. Filing for bankruptcy will immediately stop the lawsuit, and even if a judgment has already been entered, bankruptcy can often eliminate that judgment.
Tax Debt
Tax debts can be some of the most difficult debts to handle, but a bankruptcy can help. Often tax debts that are more than 3 years old can be eliminated through bankruptcy, and more recent debts can be paid through a chapter 13 plan. And in most cases the repayment of tax debts in a chapter 13 case is interest-free! This could save you a lot of money.
Credit Card Debt
If you have a balance on a credit card that you cannot afford to pay, bankruptcy can help. As balances increase, so do minimum payments, and interest keeps adding up, making it impossible to pay the balance owed. In most cases credit card debts can be eliminated for cents on the dollar (or nothing at all!).
Medical Bills
Everyone will need to see a doctor at some point in their lives, but that should not have to mean financial ruin as a result of an expensive bill. Unfortunately, more and more people are being faced with exorbitant medical bills due to insurance companies not providing coverage or because you have no insurance. If you find yourself in this situation, call us to set up a free consultation. Like credit cards, most medical bills can be eliminated through bankruptcy for cents on the dollar.
Harassing Creditor Phone Calls
One immediate benefit of filing for bankruptcy is that creditors have to stop calling you as soon as your case is filed – no ifs, ands, or buts! If you are being harassed with calls from collection agencies at all hours, give us a call to see if bankruptcy is right for you.

If you are considering filing for bankruptcy or are looking for advice on how to manage your financial situation, contact The Schofield Law Firm at 912-275-7018 for a free consultation. Paul Schofield will be glad to discuss your individual or your business situation and the options that are available.

Bankruptcy Law

Paul A. Schofield

Attorney at Law

Brunswick, Georgia

Related Topics

The Bankruptcy Process – What to Expect


The Initial Consultation

We recognize that bankruptcy is not right for everyone, and that most people would like to avoid having to file if at all possible. That’s why the initial meeting will not be a sales pitch to try and get you to file for bankruptcy. At this preliminary meeting you can discuss your financial situation to determine your best course of action. This will include a discussion of the types and amount of debts you have (credit cards, mortgages, medical bills, etc.), your goals (do you want to keep your house? your car?), your assets (sources of income, property, etc.), and any other considerations that may arise in your individual case.


After the Consultation

 If you have decided that bankruptcy is your best option, you will need to gather various documents and information (pay stubs, tax returns, the amounts you owe to each creditor, etc.) that will be needed in preparing the documents that must be filed with the bankruptcy court. Once you have provided all of the necessary information, we will prepare the documents and schedule another appointment so that you can review and sign the documents.


After Filing

As soon as your bankruptcy documents are filed, the automatic stay will stop creditors from taking any collection actions against you. You will be required to attend a meeting of creditors (also called a “341 meeting”). At this meeting the trustee assigned to you case will ask you questions about your finances to make sure that the documents you signed accurately reflect your financial situation. We will help you prepare for this meeting and attend the meeting with you.


Next Steps

The next steps will depend on which chapter you filed under. In a chapter 13 case you will need to appear in court at a confirmation hearing to approve your chapter 13 plan. If your plan is confirmed, you will make payments to the trustee for a period of three to five years, after which most of your remaining debts will be discharged.


After Bankruptcy

Although bankruptcy stays on your credit report for ten years, you can still work to rebuild your credit during that time. Once you have received your discharge, we will be able to provide you with advice and information on how to rebuild your credit and set you on track for a better financial future.

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The Schofield Law Firm, P.C.
1709 Reynolds Street
Brunswick, Georgia 31520

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The Schofield Law Firm is a debt relief agency that helps clients file for relief under the Bankruptcy Code.