Douglas, GA Bankruptcy Lawyer

The bankruptcy lawyers at Woodall & Woodall have helped more than 22,000 people in southern Georgia file bankruptcy. We service Valdosta, Albany, Moultrie, Thomasville, Douglas, Tifton, Waycross, Leesburg, Americus, Bainbridge, Cairo, Cordele, Pearson and 35 counties in South Georgia.

Douglas, GA residents, we have considerable experience with Chapter 13 and Chapter 7 bankruptcy, and can tell you which is a good choice for your circumstances. 

Call Woodall & Woodall today for your FREE consultation at 229-247-1211.

Bankruptcy vs. Debt Settlement:

Important Things to Consider

You've been quite consistent with making your debt payments, but months (and even years) pass, and you're still in a financial hole. Over the years, you've accumulated so much debt that it seems like it will take forever to pay off.

Or perhaps you've been trying your best to keep up with your payments, but you fall further and further behind because of bills and other important expenses. In either case, it's time to consider some options that will help you gain back control of your financial future. Debt settlement or filing for bankruptcy may be viable options. To decide which option is best for you, it's important to first consider your financial situation, the total amount of debt you owe, and other key factors.

What Are The Potential Results Of Debt Settlement?

• The creditor doesn't agree to a settlement at all. This is perhaps the worst-case scenario when it comes to debt settlement. There is no guarantee that the debt settlement company will settle all of your debts.
• The creditor does agree to a settlement, which is the ultimate goal. However, if the debt settlement company has advised you not to make payments on the debt while negotiations took place, your credit score may take a hit.
• The debt settlement company has only settled a portion of the total amount owed. For example, you owe $10,000, but the debt settlement company was only able to settle $5,000. In cases like these, you may still have to pay the debt settlement company a portion of their full fees even if your whole debt wasn't settled. 
• You may suffer tax consequences. If the amount of debt forgiven exceeds $600, the creditor will report this to the IRS. The IRS will consider this income and require you to list it on your tax return. This could either cause you to owe more taxes to the IRS or cause a lower refund amount.

Why Bankruptcy Is A Better Option

• You can't save enough money to settle your debt.
• You have more than credit card debt.
• You're going through hardship (i.e. medical problems, lost your job, etc.).
• You won't be able to afford your other bills.
• Creditors don't want to negotiate with you.
• Creditors learn you can't pay, they might file legal actions aimed at garnishing your wages.

Next Steps

If you are considering bankruptcy and would like to explore all of your options, we offer a free consultation with one of our experienced lawyers. Please call 229-247-1211, or complete the form today.

Call Our Office Servicing Douglas, GA  Today

For a free consultation with one of our experienced lawyers, please call our office at . You can also complete the online contact form if you prefer.

Douglas Bankruptcy Lawyer.

• Free Confidential Consultation
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• Over 20,000 Clients Have Trusted Us.
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• 34 Years Experience
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Looking for a Fresh Financial Start? 

Most clients are able to...

1. Stop collection harassment.
2. Stop wage garnishment.
3. Get rid of credit cards.
4. Dispose of medical bills.
5. Stop foreclosure.
6. Prevent repossession.
7. Lower monthly bills.
8. Wipe out your debt.