FAQ About Bankruptcy

Can I keep my car?

Many cars are protected under the bankruptcy law in Georgia. If you have a car loan or lease, you can continue to make the payments and keep the car in almost all cases.

Can I Keep My Home?

In Georgia, most homesteads: houses, townhouses and condos, are protected by Georgia’s homestead protection laws. If your home is too valuable, you may not want to file a Chapter 7 bankruptcy because the Court could sell it to pay your bills. Chapter 13 bankruptcy always protects homes if a home is too valuable to be protected in a Chapter 7 bankruptcy.

Again, the best way to find out if your home is protected is to consult with us to be sure.

What about my bank account?

Filing bankruptcy does not force you to close your bank account.

What about immigration status?

Filing for Bankruptcy will not hurt your immigration status. You can still get a green card and can still become a citizen, exactly the same as before.

Will my employer know?

Filing Chapter 7 Bankruptcy will not involve your employer.

Will I be garnished?

Filing for Chapter 7 Bankruptcy does not mean you will be garnished. It is illegal for a creditor to garnish you after you have filed your bankruptcy petition.

How Does filing a Chapter 7 affect my pension, 401(k) plan, retirement plan?

Your 401(k) plan, pension plan, IRAs opened for retirement, and social security are all protected under bankruptcy regardless of how much you have saved in your retirement.

Can I Keep Bank Accounts and Other Property?

Most people do not lose any assets when they file for Chapter 7 bankruptcy. In Georgia, Title 44 Chapter 13 Article 2 sets out the statutory exemptions that allow you to keep your property, both real and personal up to certain limits of value.