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New Bankruptcy Laws

If you or your business in Georgia is having financial debt problems and just can’t seem to keep pace with mounting bills, a bankruptcy may provide the relief you need to seek a second chance and a new financial beginning.

At your free initial consultation, we will discuss the facts of your financial situation. After we listen to your concerns and answer your questions, you will have a better ability to determine if bankruptcy is right for you. We are pleased to assist people and businesses in bankruptcy filings.

We handle your bankruptcy case from beginning to end. We will help with the submission of all necessary documents and represent you throughout the duration of your case. Although bankruptcy is not right for everyone, it can provide a tremendous source of economic relief for many people and businesses.

When new changes to the Bankruptcy Code took effect in recent years, there was a wealth of misinformation that was communicated through the media and word of mouth to the public. At the law office of B. Phillips & Associates, P.C., we routinely field questions from people and businesses who wonder if new bankruptcy law changes will prevent them from seeking economic relief from unmanageable debt. It is true that new bankruptcy law changes have resulted in more pre-conditions, but we are pleased to report that most of the people who visit our offices for a consultation discover that they are eligible for bankruptcy relief through either a Chapter 7 bankruptcy or a Chapter 13 bankruptcy.


When you file bankruptcy, an order will be issued that instructs potential creditors that further attempts to collect a debt must be ceased for a period of time while the bankruptcy court is considering the pending bankruptcy case. If your creditor continues to call shortly after you file and you are represented by our office, we will instruct the creditor that you are represented by an attorney and further efforts to collect can result in a contempt action being filed against the creditor. Simply tell the collection agency or creditor you are represented by a bankruptcy attorney and give them our phone number. Once we have your bankruptcy case file number, we can provide it to your creditors. Filing bankruptcy can help you seek an end to the endless nuisance of creditor harassment.


Chapter 7 bankruptcy is the most common form of bankruptcy filed in the United States. Depending on the facts of your case, a Chapter 7 bankruptcy may be able to help you to:

  • Eliminate or reduce debts (e.g. credit cards, medical debts, other debts)
  • Stop creditor harassment and annoying collection calls
  • Stop a home foreclosure
  • Stop a wage garnishment
  • Stop a car repossession or asset/property repossession
  • Stop troublesome lawsuits

Link to more information about Chapter 7 Bankruptcy


Chapter 11 bankruptcy is a form of bankruptcy reorganization available to individuals, corporations and partnerships. It has no limits on the amount of debt, as Chapter 13 does. It is the usual choice for large businesses seeking to restructure their debt. The debtor usually remains in possession of its assets, and operates the business under the supervision of the court and for the benefit of creditors. Chapter 11 is reorganization, as opposed to liquidation that is used in Chapter 7. Debtors may “emerge” from a Chapter 11 bankruptcy within a few months or within several years, depending on the size and complexity of the bankruptcy.

Link to more information about Chapter 11 Bankruptcy


A Chapter 13 bankruptcy has many potential benefits. Depending on the facts of your case, it may stop a home foreclosure or vehicle repossession, stop a wage garnishment, and prevent future collection calls and creditor harassment. When we represent a client in a Chapter 13 bankruptcy case, we submit a financial debt repayment plan on their behalf to the bankruptcy court. The plan usually calls for the repayment of certain debts over a period of three or five years. For example, if you are past due on your mortgage payment, the plan would demonstrate how you will pay the past-due mortgage debts over the three- or five-year period. The bankruptcy trustee will review your case and determine if the proposed debt-restructuring plan is acceptable, and if so, the court will issue an order that your creditors must honor and obey.

Link to more information about Chapter 13 Bankruptcy