Georgia bankruptcy law education and training will teach you how to resolve your clients’ debts by dividing their assets among their creditors. This allows each creditor to achieve some measure of equality under the law. A filing under Chapter 7 is called liquidation and involves the sale of the debtor's non-exempt property. A bankruptcy proceeding under Chapters 11, 12 or 13 allows the debtor to use future earnings to pay off creditors.

The qualifications needed to practice bankruptcy law in GA are determined at the state level and also will be affected by the specific type of bankruptcy that the client requires. There are three general phases in obtaining an education in bankruptcy law:

1. Formal education. An attorney who practices GA bankruptcy law will typically need at least a Juris Doctor (J.D.) degree from an accredited law school in Georgia. An advanced degree such as a Masters of Law (L.L.M) will further help distinguish you from your colleagues.
2. Membership in professional organizations. Practicing attorneys will want a membership in one of the many associations dedicated to bankruptcy law in Georgia.
3. Legal specialization. Bankruptcy attorneys in Georgia can become designated specialists in bankruptcy law by meeting the state's specific requirements.
   

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Attend a law school that specializes in educating Georgia bankruptcy lawyers

There are a variety of universities in Georgia that provide a concentration in bankruptcy law. These schools are equipped to offer a solid education on the current bankruptcy laws in Georgia.

I recommend: In addition to offering bankruptcy coursework, Emory University School of Law publishes the Emory Bankruptcy Developments Journal, the only bankruptcy journal in the United States run by students. Georgia State University College of Law offers several bankruptcy courses, including basic bankruptcy, basic consumer bankruptcy and bankruptcy and tax seminar.

Find professional forums for Georgia bankruptcy attorneys

Professional online forums can provide a daily educational opportunity for bankruptcy attorneys in Georgia. These include information on recent changes in bankruptcy law and advice on building a practice.

I recommend: The Georgia Bankruptcy Law Blog is dedicated to discussions on bankruptcy law in Georgia. Ginsberg Law Offices provides extensive information on filing for bankruptcy in Georgia and also maintains an informative blog on bankruptcy.

Obtain a specialization in bankruptcy law in GA

Georgia allows attorneys who practice certain areas of the law, such as bankruptcy, to be certified as specialists. A bankruptcy attorney in Georgia will need to know Georgia's specific requirements for a specialization in bankruptcy.

I recommend: The Institute of Continuing Legal Education in Georgia provides self-study videos for Continuing Legal Education (CLE) credit in a variety of categories, including bankruptcy. The American Bankruptcy Institute hosts regular seminars on bankruptcy law in Georgia that provide CLE credit.

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• •  Attorneys also will want to join professional organizations that are dedicated to the practice of Georgia bankruptcy laws. These associations provide a number of resources essential for the practicing bankruptcy attorney, including contact information for important courts, assistance with Continuing Legal Education (CLE) requirements and links to bankruptcy laws.

Learn all you can about bankruptcy laws in Georgia before you begin to make a decision about filing for bankruptcy. Understand what the ramifications will be to your life and your business when filing for bankruptcy in Georgia.

No one starts a business thinking it will fail. Things, however, do change, and there may come a time when exercising your bankruptcy options in Georgia becomes the best course of action for yourself and your business. Before filing for bankruptcy, keep in mind the following:

1. Know what you’re going to do with your life and your business once the bankruptcy is complete.

2. Take note on how Georgia bankruptcy law is going to affect life going forward--from starting a new business to how it will affect your credit rating.

3. Examine the decisions that were made that led to your bankruptcy filing. Take note so you won’t repeat the same mistakes again.

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Determine the exemptions you have under GA bankruptcy law

Know the exemptions you have available under bankruptcy law in Georgia. For example, Georgia only provides homestead exemptions up to $10,000 and only allows you to keep personal property up to $3,500.

I recommend: Review the chart at GeorgiaBankruptcy.com showing all of the exemptions that are available under Georgia bankruptcy law. Bankruptcy Information has a chart with all of the available exemptions in Georgia and links to other Georgia bankruptcy information, such as the needed forms and Georgia bankruptcy courts.

Review the process of bankruptcy in Georgia

Filing for bankruptcy changed drastically with the passage of the 2005 bankruptcy laws. With the changes, it is much harder to file for Chapter 7 bankruptcy protection, and the process itself has become more expensive. Take the time to understand what the new process means for you and your business so you can make an informed decision on whether filing for bankruptcy protection is right for you.

I recommend: Learn about the Georgia bankruptcy process with an easy to understand explanation at Lawyers.com. The Bankruptcy Site has a wealth of information on the bankruptcy process.

Hire a Georgia bankruptcy attorney to get you through the process

An experienced attorney is a necessity when filing for bankruptcy. There are plenty of high quality Georgia bankruptcy lawyers to choose from. Find one that is a good fit for you and your business.

I recommend: The Law Office of Scott B. Riddle is one of many Georgia bankruptcy law firms that focus on bankruptcy law. AttorneyPages has a wealth of information on Georgia bankruptcy attorneys and has a database that is searchable by city or county.

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• •  Review your assets and debt before filing for bankruptcy with your Georgia bankruptcy lawyers. Property that you can't claim as an exemption may be sold to pay off to your creditors. Claim all property that you are eligible to keep as exempt or the exemptions will not be given.

Attorneys in Georgia have a strong motivation to stay informed on Georgia bankruptcy law news and trends. Attorneys must keep track of the latest rulings in cases involving Georgia bankruptcy law. The state may alter its procedures at any time, which may change the way bankruptcy attorneys do their jobs. Attorneys also may want to know what the general public is saying about bankruptcy law, in order to correct any misconceptions their clients may have.

The best sources of information on news and trends for GA bankruptcy law may be grouped into the following three categories:

1. State websites on business bankruptcy laws in Georgia. These sites are the best source of official procedures or court rulings on Georgia bankruptcy law.
2. Independent sources of news on Georgia bankruptcy laws, such as blogs, magazines and newspapers. These sources are the most likely to provide news and opinions on bankruptcy law that do not rely on any particular business or lobby group.
3. Legal professionals. Bankruptcy attorneys may be able to provide inside news and information on bankruptcy law.
   

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Review state websites to get official news and information on Georgia bankruptcy laws

Georgia government websites are the best places to get the latest news about Georgia bankruptcy law. A Georgia government website also may publish the state statutes to help attorneys stay informed on the latest legislation that relates to Georgia bankruptcy law.

I recommend: The United States Bankruptcy Court - Northern District of Georgia lists current news, such as changes in policy and procedure. The Southern District of Georgia - Bankruptcy Court provides a history of changes in bankruptcy procedures.

Study independent sources of news and trends on Georgia bankruptcy laws

Universities, law libraries and news outlets frequently report on recent court cases and legislative updates on Georgia bankruptcy law. Attorneys also may keep blogs or journals on bankruptcy law in Georgia.

I recommend: The Atlanta Journal-Constitution has an article on the effect of recent bankruptcies on foreclosures in Georgia. Access NorthGA.com reports on the recent effects of a major clothing retailer's bankruptcy in north Georgia.

Get inside news on bankruptcy law from Georgia bankruptcy law firms

Georgia bankruptcy lawyers frequently have information on Georgia law that is unavailable elsewhere. Georgia bankruptcy attorneys may publish newsletters or full length articles on a particular aspect of bankruptcy law in Georgia.

I recommend: Berry & Associates has many offices in Georgia and has recent news articles on Georgia bankruptcy laws. J. M. Heller is located in Georgia and provides legal news on bankruptcy.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  Georgia bankruptcy laws are specified in Title 11 of the United States Code and are typically identified by the relevant chapter. For example, a Chapter 7 bankruptcy is a basic liquidation of individual assets and comprises the majority of bankruptcies for individuals. The second most common bankruptcy for individuals is a Chapter 13 bankruptcy, which is designed for individuals with a source of income who can make regular payments.

Learning Georgia bankruptcy law basics can help you to explore relief options in times of financial hardship for your business. While U.S. guidelines are the same for all states, some aspects of bankruptcy laws such as exemptions can vary from state to state. Exemptions are the property that debtors are permitted to keep after filing bankruptcy. Talking to Georgia bankruptcy attorneys can help you better understand the ins and outs of filing bankruptcy.

Bankruptcy is a decision that shouldn’t be taken lightly. To determine if filing bankruptcy is the right choice, you should evaluate the future of your business, the amount of debt you owe and your ability to generate enough income to cover those debts and other operating costs. Seeking assistance from Georgia bankruptcy lawyers can help you evaluate the pros and cons of filing bankruptcy. Before filing bankruptcy for your business, you should follow some basic first steps, such as:

1. Research Georgia bankruptcy information on filing options.

2. Determine how filing bankruptcy in Georgia can affect your business.

3. Seek advice from Georgia bankruptcy law firms.

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Determine if you qualify for relief under Georgia bankruptcy law

Under Georgia bankruptcy law, business debtors can file Chapter 7, Chapter 11 or Chapter 13. The primary difference between Chapter 7 and Chapter 13 is that debtors are still responsible for paying all or a portion of their debts under Chapter 13. Under Chapter 11, companies can also reorganize their business to satisfy debts. are no longer responsible for their debts filed under the bankruptcy. Under Georgia law, businesses operating as sole proprietors may qualify for a discharge, while a corporation and other types of business entities typically won't.

I recommend: Read more about filing bankruptcy in Georgia by visiting the State Bar of Georgia. You may also obtain additional information about Georgia bankruptcy laws at Berry & Associates.

Weigh the pros and cons of who filing bankruptcy in Georgia will effect your business

To determine if filing bankruptcy in Georgia is the right choice, you should evaluate the future of your business, the amount of debt you owe and your ability to generate enough income to cover those debts and other operating costs. Seeking assistance from Georgia bankruptcy lawyers can help you evaluate the risks associated with filing bankruptcy.

I recommend: Find out more on bankruptcy law in GA by visiting Bomar and Phipps. You may also consider checking out Joseph Segraves.

Consult with an attorney about the affects of filing bankruptcy in Georgia

It's important for debtors to realize that all debts must be included in a bankruptcy filing, which makes it difficult for a sole proprietor to distinguish between business and personal finances. Just as an individual filing bankruptcy, the personal assets of a sole proprietorship belongs to the bankruptcy estate.

I recommend: Visit Lawyers.com to read more about filing bankruptcy in Georgia. You may also find out more about bankruptcy laws in Georgia by checking out the Georgia Bankruptcy Law Blog.