"SHOULD I CONSIDER FILING CHAPTER 7 BANKRUPTCY IF I ONLY OWE A FEW CREDITORS?"

Many potential clients wonder if they should file Chapter 7 bankruptcy when they "only owe a few creditors." The answer to this question depends on the amount of debt owed and how aggressive the creditors are. If a large amount of debt is owed to one or two creditors, they can still wreak havoc on your finances with the filing of a lawsuit, which usually leads to the garnishment of bank accounts and/or wages. Our firm has seen far too many cases where potential clients hope to work things out with a creditor once a lawsuit is filed only to end up being caught off guard by the garnishment of their bank account or wages. Furthermore, even if you are able to enter into a repayment plan with a creditor, if you fail to make all the required payments when they are due, the creditor will continue to pursue a judgment against you and possible garnishment despite your attempts at repayment. In both these scenarios, clients who qualify for Chapter 7 bankruptcy unnecessarily lose much needed income and incur stress due to their delay in filing bankruptcy. Although everyone's situation is unique, one should always consider Chapter 7 bankruptcy when faced with overwhelming debt regardless of the number of creditors or amount of debt owed. For a free consultation regarding Chapter 7 bankruptcy, contact Douglasville Bankruptcy Lawyers at (770) 495-6620.