Bankruptcy Chapter 7 in Georgia
If you're overwhelmed by debts like credit card bills, medical expenses, or back taxes, filing for Chapter 7 can give you another shot at financial success. It is the most common type of consumer bankruptcy filed in the U.S. and is the quickest way to get rid of your unsecured debt. DebtStoppers often sees our Georgia clients become debt-free in a matter of just a few short weeks!
Call or text DebtStoppers today at 678-673-2142 and let one of our experienced Georgia attorneys help you decide the best way for you to get out of debt.
So, What Exactly Is Chapter 7 Bankruptcy?
Chapter 7 is a legal process in Georgia that allows you to eliminate your unsecured debt. Although it rarely happens, some of your assets could be liquidated to partially repay your creditors, and then the rest of your debts get wiped out. That means you don't have to pay them!
You can discharge most of your consumer debts, including:
- Credit card balance
- Unpaid utilities
- Medical bills
- Unsecured personal loans
- Tax liabilities
- Payday loans
Bankruptcy will not discharge:
- Domestic Support
- Child support
- Education loans
Since Chapter 7 only enables you to discharge your unsecured consumer debts, it is most helpful for people who don't own homes or other large assets.
How To File for Chapter 7 Bankruptcy in Georgia?
Filing for Chapter 7 in Georgia may seem intimidating, but you will start to experience debt relief as soon as you file. To begin the process, your lawyers will submit a petition to the nearest bankruptcy court. Once the forms have been filed, the court will issue an automatic stay ordering your creditors to stop contacting you or trying to collect from you.
Once you file your petition, a case trustee will call a 341 meeting, inviting your creditors to object to the discharge of your debt. Even though creditors rarely show up, your DebtStoppers attorney will ensure that you're prepared and accompany you to this meeting.
After the 341 meeting, the trustee will proceed with your case. Although the trustee is allowed to sell assets to pay back your creditors, this rarely happens.
In addition, Georgia law allows you to hold onto:
- ● Up to $5,000 of personal property
- ● $5,000 worth of vehicles
- ● Pensions
- ● Defined-benefit retirement plans
- ● IRA, 401K, and 403B plans
How Much Does It Cost?
Every case and every client is different, so legal fees vary. That said, DebtStoppers fees are among Georgia’s most competitive.
In addition to attorney fees, all filers must pay the court a $355 filing fee. Until this fee is paid, the automatic stay is not issued and bankruptcy protection doesn’t start. For many, that $335 can be a stretch. That’s why DebtStoppers is one of only a few U.S. bankruptcy firms that will advance the filing fee. That means you can file today and stop the stress immediately.
Other bankruptcy firms offer payment plans to cover legal fees, advertising this as “no-money-down” bankruptcy, but you still need to come up with $335 in cash before they’ll actually file your case. We advance our own funds to pay the filing fee.
The Requirements for Ch. 7 in Atlanta
The Requirements for Ch. 7 in Atlanta Georgia law places rules and restrictions on who can qualify for bankruptcy. Before your debts are discharged, you'll be required to participate in credit counseling with a qualified credit counselor. You will also need to finish a debtor education or financial management course. Your DebtStoppers attorney can connect you with service providers that can help you complete these programs.
All You Need To Know About the Means Test
There are also income limits on who can qualify in Georgia. To ascertain if you have any other means to pay back what you owe, you will have to pass the "means test." The means test assesses your household income and your disposable income, and if you are over the limits, you can't file Chapter 7.
DebtStoppers can help you determine if you qualify for Chapter 7 and decide if it's the right choice for you. Call or text us today at 678-673-2142 to schedule a free one-on-one debt analysis with one of our experienced Atlanta lawyers.
DebtStoppers is proud to offer genuine $0 up-front Chapter 7. We even advance your $335 filing fee, so you don't have to wait one day to get the help you need. Don't stay in debt another day: call or text us at 678-673-2142 now!