Ernst & Partners, Atlanta Georgia Attorney
(770) 291-2009

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Our Offices

Atlanta, GA Office
44 Broad Street NW, Suite 600E
Atlanta, Georgia 30303
(678) 766-1911

Duluth, GA Office
3235 Satellite Blvd, #300
Duluth, GA 30096
(770) 291-2009

Jasper, GA Office
1745 Highway 53 West
Jasper, GA 30143
706-253-2946 (2WIN)

Atlanta Georgia Bankruptcy Attorney

Bankruptcy law is the name given to the branch of civil law that covers federal bankruptcy and state insolvency laws and regulations as they apply to individuals, municipalities, and businesses. During bankruptcy, a court administers the estate (the property and other assets) of a debtor (a person or business who owes money to others) for the benefit of creditors (a person or business that is owed money). In voluntary bankruptcy proceedings, individuals or businesses may file for bankruptcy in an attempt to resolve a hopeless financial situation; although, from time to time, a creditor may force the filing of an involuntary bankruptcy proceeding.

Federal bankruptcy law contains several different groups of provisions called “Chapters,” governing specific types of bankruptcy proceedings. The two types of Bankruptcy’s for Individuals are Chapter 7 and Chapter 13.

Chapter 7 (Individual Bankruptcy) – A petition designed to liquidate the debtor’s property, pay off his or her creditors, and discharge the debtor from his or her other debts.

Chapter 13 (Wage Earner’s Plan) – A petition designed for any insolvent debtor who is a wage earner to provide the debtor with additional time to pay off creditors.

Ernst & Partners only handles Chapter 7 bankruptcies, however they will advise if they believe a financial situation would be better suited for a Chapter 13 filing.

Chapter 7 offers an orderly, court-supervised procedure by which a trustee takes over the assets of the debtor’s estate, reduces them to cash and makes distributions to creditors, subject to the debtor’s right to retain certain exempt property. In most chapter 7 cases, the debtor receives a discharge that releases him or her from personal liability for certain dischargeable debts within a few months after the petition is filed.

Bankruptcy is an option you might consider if you:

  • Are paying only minimum amounts on your bills
  • Can’t budget yourself out of debt within five years
  • Are getting notices that your mortgage or loans are being foreclosed
  • Have had a severe financial setback, such as losing your job or a major client, a divorce or a costly illness

The Attorney’s at Ernst & Partners will help the debtor understand the bankruptcy proceedings and make the difficult process as easy and smooth as possible.

John Ernst, Atlanta Georgia Attorney
RSS Georgia Bankruptcy
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