Understanding Bankruptcy: Your Path to Financial Freedom

Understand your options. Get organized. Move forward with clarity and confidence.

Bankruptcy can feel overwhelming — but when you understand the process and know which path fits your situation, things become clearer. IGF Solutions helps you take the first steps by explaining your options in simple terms, guiding you through early preparation, and helping you organize the information you need.


We do not provide legal advice, but we help make the early stages easier and more manageable.

A calm, supportive financial advisor sits at a sunlit desk, gently guiding a diverse individual through paperwork. The background is softly blurred, evoking trust and reassurance. Both appear focused and hopeful, with natural light highlighting a sense of new beginnings.
A close-up of hands holding a document labeled 'Bankruptcy Options' on a tidy table, with a pen and a cup of tea nearby. The scene is warmly lit, suggesting clarity and comfort, and the hands belong to a middle-aged person of indeterminate gender.

Bankruptcy Basics Explained

Bankruptcy is a legal tool meant to help people who can no longer manage their debt. For many Georgia residents, it provides a fresh start, stops aggressive collection, and helps protect essential assets.

There are two main types of consumer bankruptcy:

Chapter 7 — for clearing qualifying debts

Chapter 13 — for reorganizing debts into a manageable repayment plan

IGF Solutions helps you understand which option may fit your situation and prepares you for the next steps.

Chapter 7 Bankruptcy
A Fresh Start for Unsecured Debt

Chapter 7 helps eliminate qualifying unsecured
debts such as:

  • Credit cards

  • Medical bills

  • Personal loans

  • Collection accounts

It’s often the right option for people with:

  • Limited income

  • High unsecured debt

  • Minimal assets

  • Difficulty keeping up with monthly bills

A young adult reviews a stack of bills at a kitchen table, sunlight streaming through a window. The person looks relieved as they read a letter marked 'Debt Discharged.' The setting is modest, with a plant and a mug in the background.

How IGF Solutions Helps:

  • Explain Chapter 7 requirements in plain language

  • Help you gather and organize financial documents

  • Guide you through early bankruptcy preparation

  • Provide referrals to independent Georgia attorneys if you choose to file

A young adult reviews a stack of bills at a kitchen table, sunlight streaming through a window. The person looks relieved as they read a letter marked 'Debt Discharged.' The setting is modest, with a plant and a mug in the background.

How IGF Solutions Helps:

  • Explain the Chapter 13 process clearly

  • Assist in preparing financial information for repayment planning

  • Help you understand what documents matter

  • Provide attorney referrals if filing becomes necessary

Chapter 13 Bankruptcy

A Structured Plan to Catch Up and Protect Assets

Chapter 13 is a repayment-based option that helps you:

  • Catch up on past-due mortgage payments

  • Stop foreclosure

  • Prevent vehicle repossession

  • Consolidate payments into one manageable plan

It’s often ideal for people who:

  • Have steady income

  • Want to keep their home or car

  • Need time to catch up on secured payments

  • Are facing foreclosure or repossession

Which Option Is Right
for You?

Comparison Table Preview
Chapter 7
Purpose
Wipes out qualifying debts
Helps With
Credit cards, medical bills, etc.
Income Needed
Minimal
Timeframe
4–6 months
Keep Home?
Possibly, depending on arrears
Ideal For
Overwhelming unsecured debt
Chapter 13
Purpose
Creates a repayment plan
Helps With
Foreclosure, repossession, past-due bills
Income Needed
Steady income preferred
Timeframe
3–5 years
Keep Home?
Yes, if repayments are made
Ideal For
Saving home/car or catching up payments
Chapter 7Chapter 13
Purpose Wipes out qualifying debtsCreates a repayment plan
Helps With Credit cards, medical bills, etc.Foreclosure, repossession, past-due bills
Income Needed MinimalSteady income preferred
Timeframe 4–6 months3–5 years
Keep Home? Possibly, depending on arrearsYes, if repayments are made
Ideal For Overwhelming unsecured debtSaving home/car or catching up payments

Everyone’s situation is different — and understanding your options is the first step. IGF Solutions helps you get organized, understand both chapters clearly, and prepare for whichever path is best.

We Guide You Through the First Steps

1. Free Consultation

Talk with a specialist who listens and explains your options.

2. Information & Document Preparation

We help you gather what bankruptcy typically requires — without the confusion.

3. Financial Snapshot Review

We help you understand where you stand so you can make informed decisions.

4. Clear Next Steps

If you choose to file, we can refer you to independent, licensed Georgia attorneys for legal representation.

Take the First Step Towards Financial Relief

Contact IGF Solutions today for personalized bankruptcy support. Our experienced team is ready to help you regain control and move forward with confidence.

This page is for informational purposes only and does not constitute legal advice. Bankruptcy laws vary by state and individual circumstances. Please consult a qualified attorney for advice specific to your situation. IGF Solutions is not a law firm and does not provide legal representation.

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