Georgia Secured Debt Relief Lawyers

Helping Clients Use Bankruptcy to Deal With Secured Loans

A secured debt is a debt where you have pledged your property as collateral for a loan and agreed that the lender can take that property if you do not repay the loan. Chapter 7 and Chapter 13 bankruptcy offer a number of options for dealing with secured debts.

At Gingold & Gingold LLC, our Atlanta secured debt relief attorneys — Ira D. Gingold, who has been a bankruptcy attorney since 1971 and Court-appointed Bankruptcy Trustee from 1971-2013, and Jamie L. Gingold, who has been practicing bankruptcy, real estate and business law since 2001 — are committed to helping clients get the best possible results from the bankruptcy process.

Understanding Your Debt Discharge and Repayment Options

If you are unable to keep up with your payments on a secured debt, you could lose your home, car or other property. That is why it is important to contact an experienced bankruptcy lawyer to discuss your options. The following are some general things to consider:

  • If you want to keep the property, filing bankruptcy may help you discharge (wipe out) other debts so you can focus on making your home or car payments on time. Chapter 13 bankruptcy may also help you get current on your payments over three to five years in a repayment plan.
  • If you are prepared to give up the property, filing bankruptcy can help you walk away without a foreclosure or repossession, wiping away the entire debt, including any arrears.

In addition, certain types of secured debts, particularly many judgment liens and finance company liens, can be turned into unsecured debts in bankruptcy if your lawyer files the right motions. This will make it possible to wipe out these debts without giving up the property.

Atlanta Metro Attorneys · Mortgage Debts, Auto Loans, Judgment Liens

To discuss your options for dealing with secured debts, call us today at (404) 685-8800 or e-mail us to schedule a free consultation with an experienced bankruptcy attorney. We have convenient office locations in Atlanta, Cumming, Dallas, Douglasville, and Duluth, with evening and weekend meetings available by appointment.