Columbus GA Bankruptcy Comes From The Ancient Latin Bancus

The word bankruptcy comes from the ancient Latin bancus (a bench or table), and ruptus (broken). Bank originally signified a bench, which the first bankers had in public places, markets, fairs, etc. on which they tolled their money, and wrote their bills of exchange. Therefore, when a banker failed, he broke his bank, to advertise to the public that the person to whom the bank belonged was no longer in a condition to continue his business. The bankruptcy law is meant to come to the rescue of an honest debtor, who is in debt which has crossed his present limits of repaying. Bankruptcy is a legal process that may help you if you have more debts than you can pay. To begin the bankruptcy process, you file legal papers called a petition with the Bankruptcy Court. You must list all your debts and property on the petition. After you file for bankruptcy, your creditors cannot try to collect from you directly, but they must take any claims they have against you to the Bankruptcy Court. It prohibits your creditors from debt collection actions without the court’s approval. When a debt is discharged in bankruptcy, it is no longer enforceable against the debtor personally. The debtor is no longer required to pay the debt, or the portion of the debt that has been discharged, nor can the debtor be subject to collection activity on the debt, including being sued on the debt. A bankruptcy discharge serves to erase the debt and give the debtor a fresh start financially.

Our bankruptcy attorneys are based in Columbus, GA (Georgia). If you are located in Columbus, GA (Georgia), Fort Benning GA (Georgia), Chattahoochee County, Harris County, Marion County, Muscogee County, Lagrange, Atlanta, Albany, Newnan, Peachtree City, Carrollton, Muscogee County, Troup County, Phoenix City AL or Opelika AL, contact us. We can help you file for bankruptcy.

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