Georgia is 3rd in the nation for personal bankruptcy filings–You are not alone

Georgia is 3rd in the nation for personal bankruptcy filings–You are not alone

There are many reasons why Georgia ranked 3rd in the nation for the number of personal bankruptcies filed in 2009. If you are reading my blog you are undoubtedly familiar with the life events that cause people to consider filing. These are job loss, illness, divorce, the real estate implosion and imprudent spending.
But beyond these events–attorneys like me are finding that there is another even more scary factor with which many filers find themselves having to cope. It is general loss of income that comes from taking a new job for less pay, less hours, and the months of searching for that new job without income. When you’ve been spending money according to the money you were making, you will have to make very tough decisions about how you’ll spend your family’s money post Great Recession.

Are you trying to decide between paying the car note, the mortgage or rent, the credit card bills, health insurance, tuition, etc.? Are you thinking about liquidating your 401K? Are you planning to take out loans from your employer, your family members? Do you have questions about surrendering your house and walking away from the mortgage? Are those late night commercials about debt consolidation tempting you (don’t let them). Are you tired of being up late at night because you’re worried about money?

You need to get advice from a bankruptcy attorney before you make decisions about money. You should call my office because I will take as much time as you need to go over your situation and explain your options to you, and because this is all I do. Think of me as your river raft guide or Sherpa. I’m here to get you down the canyon or up the mountain–and then back to your life.

Here’s a link to a New Year’s Day article in the AJC about the number of filings in our state. Things are indeed bad out there. But things don’t have to be all bad for you.