Athens Georgia – GA Chapter 7 Bankruptcy Attorney

Chapter 7 bankruptcy in detail

Individuals, partnerships and corporations can seek protection under Chapter 7. In a chapter 7 bankruptcy, the court appointed trustee will sell the non-exempt assets of the debtor to pay off the creditors while the debtor is allowed to keep the exempt assets. All debts are however not discharged in a chapter 7 proceeding. The types of debts that are not discharged in a Chapter 7 case include:

1. Alimony and child maintenance and support obligations,
2. Certain taxes,
3. Debts for certain educational loans made or guaranteed by a governmental unit,
4. Debts for willful and malicious injury inflicted by the debtor,
5. Debts for death or personal injury caused by the debtor's operation of a motor vehicle while the debtor was intoxicated from alcohol or other substances, and
6. Debts for criminal restitution orders.

All you wanted to know about filing for Chapter 7 protection.

Before a debtor can file Chapter 7 proceedings, the debtor must complete credit counseling with a United States Trustee approved agency. The United States Trustee maintains a list of approved agencies in each state. Once the credit counseling is complete, the debtor can file the petition in the bankruptcy court. The petition must be accompanied by several schedules and statements which include:

1. A list of all creditors and the amount and nature of their claims;
2. The source, amount, and frequency of the debtor's income;
3. A list of all of the debtor's property; and
4. A detailed list of the debtor's monthly living expenses (food, clothing, shelter, utilities, taxes, transportation, medicine, etc.).

Bankruptcy forms are available online at www.uscourts.gov/bkforms/index.html

A fee of $299 must be paid at the time of filing of the petition. The debtor can petition the court to pay this fee in four installments. If the debtor’s income is less than 150 percent of the poverty level, the court may waive the fee.

If a husband and wife file jointly, they only have to pay the fees once. But if only one spouse files for bankruptcy, that spouse must provide financial information about both spouses so that the court can evaluate the couple’s financial situation.

Our bankruptcy lawyers are based in Athens, Georgia. From our GA offices, we help clients in Watkinsville, Carnesville, Lexington, Hartwell, Winder, Elberton, Homer, Jefferson, Danielsville, and Clarke County, Oconee County, Elbert County, Franklin County, Banks County, Jackson County, Madison County, Ben Epps Airport, University of Georgia (UGA), Piedmont Judicial Circuit, Hart County, Barrow County and Oglethorpe County, Northern Judicial Circuit, Athens-Clarke County with Chapter 7 filings. Our lawyers can help you file for bankruptcy.

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