Bankruptcy laws continue to change and adapt to the times. As more and more people look to bankruptcy for help with their debt issues, they realize that the laws have changed.
It can be difficult to keep track of bankruptcy laws. We aim to help those who need to file for bankruptcy to complete the proposal that they need to get a successful settlement.
If you are someone who is thinking about Georgia bankruptcy, you need to understand as much as you can about the entire process. The more you know about bankruptcy in general, and how the laws have changed, the better off you will be.
How Bankruptcy Works
Bankruptcy requires you to file a large amount of paperwork, and submit a large amount of information. This highlights the importance of hiring a professional to help you with your bankruptcy filing process. With the process becoming more complicated than ever, you need a professional to help guide you through the process.
Things that have Changed
There have been sweeping changes to Georgia bankruptcy laws over the last 10 years. The newest bankruptcy laws went into effect in 2005. One of the biggest changes in the laws has begun to require more information than before. For example, filers must now show 4 years of tax returns, as to the original numbers of 2-3 years of tax returns.
The new laws have also made it more difficult for people to file for Chapter 7 bankruptcy. This is the bankruptcy that liquidates debt. These laws passed as a way to help stop bankruptcy fraud, keeping people accountable for the debts that they have accumulated.
Most of the changes that have been made to the bankruptcy laws are only seen in the behind the scenes work done by the lawyers that write up proposals. The new laws cover everything from the information required to the way that your property will be valued.
What you have to Gain
It is true that recent changes to Georgia bankruptcy laws have made it more difficult for many to file for bankruptcy. While it may cost a little more to hire a lawyer to take care of your proposal, it may be your only chance at success. Lawyers know exactly how to create the proposal that you need to get back on your feet, and can help you to navigate all of these new laws.
As bankruptcy laws change, more and more people lose out on the benefits they may receive from filing for bankruptcy. Some stay away from the process because of pride, while other stay away because they simply fail to understand what they have to gain. If you are considering bankruptcy, speak to our professionals. We aim to make the entire process as pain free as possible. We want to make it simple and easy for you to get the bankruptcy settlement that you need to get back on your feet.
About the Author:
Brandon Jacobs knows from personal experience how difficult going through a bankruptcy in Georgia can be. If you are facing a Georgia bankruptcy, he recommends the Sandberg Law Firm.