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How Unemployment Benefits May Affect Your Bankruptcy Eligibility   Atlanta, GA

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How Unemployment Benefits May Affect Your Bankruptcy Eligibility  

Many people have recently lost their jobs as businesses shut down over government regulations due to the COVID-19 pandemic. There have been over 2.9 million unemployment benefit claims in Georgia over the last year. If you have become unemployed and are struggling to pay creditors, bankruptcy may be an ideal solution for you. Here are how unemployment benefits in Georgia may affect your ability to file bankruptcy.

Unemployment Benefits and Chapter 7 Bankruptcy

Individuals who are overwhelmed with debts may wish to seek a Chapter 7 bankruptcy to give them a fresh start. With a Chapter 7 bankruptcy, any assets you own that are not protected by state or federal laws may be sold to repay the debt. Unemployment benefits in Georgia are counted as income and are usually not a sufficient amount to affect your Chapter 7 bankruptcy. If your income does make you ineligible for a Chapter 7, you may be able to qualify for a Chapter 13 bankruptcy.

Unemployment Benefits and Chapter 13 Bankruptcy

A Chapter 13 bankruptcy allows debtors to keep their assets while repaying their debts. If you are unemployed, you can qualify for a Chapter 13 as long as your benefits are sufficient enough to fulfill the obligations of a repayment plan. If you cannot make payments with your unemployment income, you may be able to get assistance under the CARES Act. You may be able to request a modification to your repayment plan or receive an extension.

Request a Confidential Bankruptcy Consultation

If you are experiencing financial struggles as a result of the pandemic, bankruptcy may be an ideal solution to help you get debt relief. To determine if bankruptcy is right for you, you may want to consider seeking legal advice from an experienced attorney. Contact Gingold & Gingold to receive a confidential bankruptcy consultation today.

Posted on behalf of Gingold & Gingold

1718 Peachtree St NW, #385
Atlanta, GA 30309

Phone: (404) 685-8800

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Our Client Reviews

Gingold & Gingold LLC
5.0 / 5.0

Based on 28 reviews

Jack L.

They did an excellent job with my case. Jamie took the time to really listen and understand things. She delved into the details and was extremely knowledgeable and non judgmental. Very professional and they know what they are doing. Would definitely recommend!

All C.

Mr. Gingold was recommended by an attorney I had worked with previously. I met with Ira Gingold to discuss credit issues. He went over each specific issue thoroughly. He advised me of the potential outcomes. He did all this in one meeting for a very reasonable price. When we finished I was confident in moving forward with a resolution. He definitely wants to help people take the appropriate course of action for their circumstance.

Karen B.

Dear Mr Gingold, There are so many reasons to be thankful for all you have done and will do. Anyone who has ever had unfavorable experiences with an attorney or the legal system will feel the trepidation that I experienced once I realized that my situation seemed hopeless. It was by chance and happily good luck that I decided to put my future and sanity into your hands. I was mortified at having to deal with my debts by claiming bankruptcy. I remember in our first meeting how you assured me that I was not alone and should not feel ashamed. And, anyone in this position obviously does not have money to spare and you were clear about all the costs and allowing me to pay according to my own ability to do so. You advised me in all aspects of the law, but also, you were at each meeting incredibly supportive and complementary of my personal and professional plans. Anyone else in this situation should feel blessed to have access to your expertise and support.

Lyla B.

I thought the process of filing bankruptcy was going to be a difficult one. However, Gingold & Gingold treated me with respect and dignity from the moment I walked through their door. I had the pleasure of working with Jamie. She is very responsive, professional, and knowledgeable. She took the time and listened to my every concern and handled each and every one of them to my satisfaction. My experience with filing bankruptcy under Gingold & Gingold's representation exceeded my expectations in a major way. They gave me such a peace of mind. I am very pleased with my decision of going with Gingold & Gingold to represent me when I filed Chapter 13 bankruptcy.

Julie T.

Wow! I am finally out of debt and can say that I am debt free after completing my chapter 7 bankruptcy case with Gingold and Gingold. Mr dangled was very knowledgeable and direct with regard to my debt situation. there were no surprises and the case went as I was advised. The staff was also very helpful whenever I had a question. I will definitely recommend them in the future to my friends.

Sherard W.

I cannot say enough about this law firm. From the initial consultation to our discharge, the entire office kept me updated with every step of the entire process. I came to the Gingold after a bad experience with another law firm. Ira and Jamie immediately began treating me like family through this experience. In the end, they assisted with eliminating many debts including my 2nd mortgage. I cannot say enough about the experience and knowledge that Ira brought to the table from the office visits to the court time. Thank you very much for helping me through this tough time. Thank you.

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