Filing Georgia Bankruptcy – What If You Are Ineligible?

Filing bankruptcy in Georgia can save you a lot of time, grief, and money.

Maybe it’s easy to see how you save grief and time: you spend less time finding ways to pay bills, less time worrying about bills, and less time agonizing about having wages garnished and your home taken. But how can you save money by filing Georgia bankruptcy? It may seem obvious for a Chapter 7 bankruptcy, where you discharge a debt. But you also save money in Chapter 13, mainly in terms of assets and property than actual dollar amounts.

Unfortunately, more and more individuals and families are ineligible for bankruptcy. This problem is addressed in this blog guide. We’ll be going over eligibility laws unique to Georgia, what to do if you are ineligible for one, and how best to use bankruptcy.

Eligibility for Chapter 7 Bankruptcy in Georgia
Chapter 7 bankruptcy eligibility is based on income. The more income you have, the harder it can be to file for help. However, if you are out of work or in a low-paying job, you’re almost always eligible. For individuals in Georgia, you can make up to $40,691. For families of two, $55,258. For families of three, $61,104. For families of four, $68,502. You can only file Chapter 7 every 8 years. Therefore, if you filed 5 years ago and want to file again, you can’t. Also, businesses cannot file Chapter 7, only individuals and families.

Chapter 13 Eligibility
Eligibility for Chapter 13 bankruptcy is pretty much the same nationwide. You can make as much money as you want, but there is a limit on the debts you can have. You cannot have secured debts – debts with collateral such as homes and cars – of $1,010,650 or higher. You cannot have unsecured debts – debts like credit card and medical bills – exceeding $336,900. You must also be an individual or family to file Chapter 13. Also, because in this form of bankruptcy you are paying some if not all of the debts, you must have a reliable source of income such as a job or disability capable of funding the debt repayment plan. Finally, if you filed any sooner than six years ago, you cannot file Chapter 13 anywhere in the country.

Filing a Second Time
The point of bankruptcy is to get a second chance financially. Unfortunately, many make the mistake of  overspending and not paying on debts correctly, leading to a second bankruptcy. There may be some problems with how you handle money, and you may want financial help for overspending from financial experts and counselors. We all make mistakes, and though filing a second time can be disheartening, it’s important to move on.

What if you aren’t eligible?
Most commonly what occurs is those interested in Chapter 7 bankruptcy make too much. Because of the means test instituted in the bankruptcy code changes of 2005, if you make too much, as addressed earlier, you may be forced to file Chapter 13. This is not always bad. Chapter 13 has many advantages, including protecting your property and assets from being taken. Georgia has some of the highest foreclosure rates of all states, making stopping foreclosure entirely with a timely Chapter 13 filing a smart decision.

On the other hand, you may not be eligible for a Chapter 13 bankruptcy. If somehow you owe this amount of debt, you need some speak with some financial experts about your situation. This is rare, but there are solutions.

Who can help?
Bankruptcy is about getting help, not being judged. You likely want a person to help you, not a computer. An experienced Georgia bankruptcy lawyer can save you time, money, and assets. They can also guide you through the bankruptcy process.

Filed under: Bankruptcy Information — Tags: , , , , , , , , — jmalewitz @ 1:20 pm

6 Tips on a Second Bankruptcy Filing

Over 1 million people filed bankruptcy in 2009. Unfortunately, statistics are coming out showing an incredible increase in bankruptcy filings between 2009 and 2010.

Under bankruptcy law, you are only allowed to file bankruptcy under certain conditions. Beyond how much you make or how much you owe, if you’ve filed only a short period ago, you have to wait to file bankruptcy. In Georgia and all other 50 states, if you filed Chapter 7 bankruptcy less than 8 years ago or Chapter 13 less than 6 years ago, you cannot file again until that time has passed.

Where does that leave you? Do you really need to file a second time? This blog post guides you through the most important points when considering filing for bankruptcy a second time.

Making the Decision
Should you really file a second time? By law, you can be eligible. 6-8 years is a long time between filings. Sometimes filers have jobs or ways of life which lead to filing bankruptcy multiple times through a lifetime. Maybe you’re in a job where you get laid off often, or maybe you just have some bad spending habits. The choice should be made with some guidance, but bankruptcy is an option and is on the table.

If You’re Not Eligible
Bankruptcy is an option if you’re eligible. Even if you waited long enough to file a second time, you have to understand the new bankruptcy code. Along with changing how often consumers can file, it also changed how common Chapter 7 bankruptcies are and what debts you can successfully discharge. You may have made too much money in the past year to file Chapter 13. On the other hand, you may  have used money to invest in a home or property; if you want to keep it, protecting it with a Chapter 13 bankruptcy may in fact be better. You have options.

Financial Help
If you have been having money troubles all your life, if you spend too much when you have little, if you tend to spend all your paycheck days before you’re next one, you may want some financial counsel. There are some organizations willing to help you. Just like a gambler playing blackjack, spending money itself can be an addiction, and you may consider going beyond the financial problem and considering someone you can talk to like a therapist, even if only for a few sessions.

What Debts You Have
If you are filing a second time, compare the debts you have to the debts you had before. Have you run into the same problems? Maybe you are overspending on a home, or buying the brand new truck and maxing out your credit cards? Also consider what of this you can afford to keep. You don’t lose everything in bankruptcy, especially if you have some funds.

Hire a Good Georgia Lawyer
If you had a good relationship with your previous Georgia bankruptcy lawyer, you may consider them again if possible. If you want to hire a new one, remember to consult with several lawyers, be plain on the fees you can afford, see what their availability is, and also ensure they have relevant experience.

Stop Spending
If you file a second time, with the new bankruptcy laws you have to wait a long time before you can file again. It’s time to consider how spending may be your problem. In some situations, it’s not your fault. A hospital bill came or you lost your job. In others, you fell in love with your credit card and couldn’t stop. It will be very hard to file a third time, so make this filing the last.

Filed under: Bankruptcy Information — Tags: , , , , , , , , , , — jmalewitz @ 1:21 pm

Reasons for Choosing Chapter 7 Bankruptcy in Dalton Georgia

Bankruptcy changes lives. It’s easy to say that, but it’s true because there are many benefits of filing bankruptcy. In Georgia, bankruptcy is often not considered at all financially. In the city of Dalton, many residents facing foreclosure, unemployment, rising credit card debt, and bills they simply cannot pay do not consider filing for bankruptcy. Some are taking full advantage of it, and you should too.

Why not file Chapter 7 bankruptcy?
In personal bankruptcy, Dalton residents have two options: Chapter 7 or Chapter 13. Chapter 7 is the most common because it can be very effective in discharging debts. In Chapter 13, you are paying some if not all the debts you owe, so that $20,000 credit card debt may have to be paid in full. However, your Dalton home may be on the verge of foreclosure; in this instance, Chapter 13 may be better. It can protect your home and other assets from being taken.

You Can’t Repay Major Debts
There are some other reasons for choosing Dalton Georgia Chapter 7 bankruptcy. First, the biggest cause of bankruptcy is medical debt, not credit card debt. It’s a nightmare scenario: a loved one has to go to the hospital, stays for weeks, and you have no medical coverage. Faced with a huge bill, you fear losing everything. The answer is Chapter 7 bankruptcy, not credit counseling and certainly not debt management help. You can discharge tens of thousands of dollars. Along with medical debt, many use it to get out of high interest payments on credit cards; you may only be able to afford minimum payments on a credit card debt, but with bankruptcy you can discharge it completely.

You’re About to be Sued
If creditors are taking legal action against you, Chapter 7 bankruptcy can be a life saver. You may have a variety of bills, from credit to medical to car to even household furniture. These debts can almost always be discharged by a Dalton Chapter 7 bankruptcy.

Protect Your Property and Income
While saving your property is a good goal to have, in some cases it’s not worth keeping it. In others, you have invested far too much money into your assets just to give them up. Georgia bankruptcy exemptions can protect your home, car, and other assets up to a certain level. It’s a mistake to think because Chapter 7 is called a liquidation you lose everything; most in fact lose nothing. If you hire an experienced Dalton bankruptcy lawyer, he or she can explain what property can be protected and is exempt.

Who can help?
There are many bankruptcy lawyers, but when you narrow it down to city and state, the options do shrink. You should hire a local lawyer who you can actually meet face to face. You should ask if they have experience in Chapter 7 and Chapter 13 bankruptcy. You should make sure you can afford their rate. And finally, you want them to be able to help you personally, answering questions and relieving concerns.

Filed under: Bankruptcy Information — Tags: , , , , , — jmalewitz @ 1:21 pm

Preparing for Your Chapter 7 Meeting of Creditors

A meeting of creditors may be the wrong term to use when it comes to Chapter 7 bankruptcy, because creditors rarely show up. The 341 meeting, as it’s also called, is one more step up to successfully filing bankruptcy. There are some tips to know before your 341 meeting.

The Notice
You need to remember several key points after getting your notice for a 341 meeting. When is the meeting, at what time, where will it be held, how do you get there, where do you park, and what should you bring? These are some good questions to have, and the answers can be found on your notice or with a map. You also want to confirm with your lawyer that he or she received the notice. If you have further questions and worries, a good lawyer can help.

Study the Notice
You also will be given further information on your notice, namely the trustee assigned to your case. Your trustee is a key component of filing Chapter 7 bankruptcy. You want to ensure this person has no relationship with those you owe money; though rare, it happens and needs to be immediately addressed. If you ever have to change trustees, you will likely get a new notice with a new date for the 341 meeting.

Arrive Early
Just in case you are unfamiliar with where the 341 meeting will be held, be sure to leave early. Yes, the meeting is a formality, but one which deserves your full attention.

The Paperwork
In the notice you’ll also see if all required documents have been given to the court. In cases where you are unsure of what documentation needs to be filed, this should be addressed by your lawyer. Sometimes the wrong documentation can be filed or not filed at all. Problems like these are to be solved by your lawyer; that’s why you pay him or her.

What to bring?
Bring your ID or some other valid form of identification. You should also have proof of your Social Security number, if not then your W-2 tax form or other proof. You also may want to bring a notebook to the meeting in order to take important notes, especially helpful if you have some problems.

Review More
For what may be the final time, you should review all your bankruptcy information. It may be smart to do this with your lawyer. You can go over your current proof of income, debts you have, what debts will not be discharged, and more. If you see some problems, it’s okay: you’re lawyer can help, and the trustee can help you with any changes.

Be Confident
Once you’re ready for the 341 meeting, go in confidently. This is quite often a formality if all your documentation is in order. So take a deep breath and look at this as one of the final steps to financial freedom.

Filed under: Bankruptcy Information — Tags: , , , , , , , — jmalewitz @ 12:43 pm

6 Points Beyond Price in Hiring Your Georgia Bankruptcy Lawyer

All too often we look for the rock bottom price when the better value is in fact going with a good product. In terms of bankruptcy law, especially in the state of Georgia, price is relative in terms of what  an experienced lawyer can do for you. Would you want to cut your fee for having an operation in half by choosing the cheaper doctor? It’s not nearly as drastic, but it makes the point that you pay for many things beyond filling out paperwork when it comes to bankruptcy. And what are you really paying for? Let’s find out.

Education
Your lawyer should have the education needed to not only handle your case but to successfully navigate the laws. Just as privates in the army know less than generals, some lawyers know more than others. You cannot always tell this by education; experience is important too. But education is where lawyers prove themselves in the beginning.

Experience
You pay for value when you hire a lawyer, and the best value you can get is with experience. Experience in and out of court saves you a lot of legal hassle, time, and money. If you are choosing between a Georgia bankruptcy lawyer with 1 year court experience and one with 10 years experience, is there really that big of a divide? Yes. Bankruptcy is a very complex process. You never stop learning as a lawyer. The more in court experience your lawyer has, the more cases where debts were successfully discharged and assets protected, the better. Since bankruptcy code changes constantly, especially in terms of eligibility, you need someone who can adapt, not someone learning on the job.

Availability
You can get a lawyer for low fees, then you’ll see why he or she charges so little: they spend a fraction of the time on your actual case, they take on a huge load so they can bring in the same pay. Time is very important. You want a lawyer capable of handling the time involved in filing paperwork, handling creditors, and helping you get a fresh start.

Communication
Good communicators in the legal world are invaluable. They can save you a lot of time and headaches. Let’s face it: some lawyers only care about the paycheck, not helping you. You likely will have many questions when it comes to Georgia bankruptcy. Will you be eligible for Chapter 7 or Chapter 13 bankruptcy? What debts can be discharged? How much will it cost? How long will it take? No two bankruptcies are exactly alike, making communication skills and friendliness important when hiring your lawyer.

Legal Guidance
Few who are not bankruptcy lawyers can file by themselves. You can technically file by yourself, but the legal guidance can be invaluable. You may not know of things like home exemptions or ways to stop wage garnishments. It’s your lawyer’s job to walk you through steps like these.

Saving Money
There are many more points beyond money when hiring a Georgia bankruptcy lawyer, but, oddly enough, how much they save you may be the biggest. You don’t file bankruptcy because you have a lot of money coming in; you file to save money. And if you can discharge $50,000 in a Chapter 7 bankruptcy or buy much needed time with a Chapter 13 bankruptcy, it’s more than worth it. A lawyer saves you money? Yes, the best ones do.

Filed under: Bankruptcy Information — Tags: , , , , , , , , , — jmalewitz @ 3:05 pm

When Should You Consider Filing Georgia Personal Bankruptcy?

A common question during tough economic times is, when should you file bankruptcy? The question is especially valid in Georgia, with plummeting home values, foreclosures, job losses, and credit card debt. These are in fact some of the biggest reasons you might file personal bankruptcy in Georgia, if not any state in the country. This guide begins the process for you to help make the choice. It’s an important one, so read on.

Bills You Can Pay
If you are paying only the minimum on most if not all your bills, personal bankruptcy is a good option. Many can only afford to pay the interest on credit cards or other bills, falling deeper and deeper into financial troubles. If you simply know it won’t get better, consulting with a Georgia bankruptcy lawyer can help make the decision for you.

Budgets Won’t Work
If it won’t get any better, if it’s impossible to create a budget to get out of debt in a matter of years, Georgia bankruptcy can give you a fresh start. It’s not giving up financially; it’s a move you are allowed to make as citizen and what you’ve been paying taxes for. If no foreseeable budget can get you out of this problem, bankruptcy is much better than losing all your assets and properties.

Home Foreclosure, Apartment Rent
If foreclosure papers have been filed, are about to be filed, or if you cannot pay the rent on your place, bankruptcy may be your best option (note it’s not your last option). Sometimes you can actually save your home by working with a Georgia bankruptcy lawyer, especially if you file before the home goes into foreclosure. If, when looking ahead, you feel the apartment or home you’re renting will be too much with your debt, you may file just to protect yourself from being quite literally homeless.

Lost Job
Losing a job is not the end of the line. In fact, just in 2010 more jobs have been created than in some time. However, in the short term you may have a serious financial struggle. You may be fine on bills, then your laid off and getting unemployment benefits, which can be quite low in comparison to your paycheck. If you lose a job, Chapter 7 personal bankruptcy can discharge your debts and give you a fresh start. You can also file Chapter 13 personal bankruptcy in order to protect your assets.

Other Financial Problems
Losing a job is not the only financial problem Georgia residents face. The biggest reason for filing bankruptcy is not job loss, foreclosure, or credit card debt; it’s medical bills. Sometimes you may suffer through an illness and have no coverage or minimal coverage; paying tens of thousands to the hospital may be out of the question. This is another example where personal bankruptcy, specifically Chapter 7, can discharge this debt for you.

If you’re still unsure if bankruptcy is your best option, consulting with a legal expert can help.

Filed under: Bankruptcy Information — Tags: , , , , , , , — jmalewitz @ 1:26 pm

Before Your File Georgia Chapter 7 Bankruptcy, Read These Tips

Tens of thousands filed bankruptcy in Georgia in 2009, and thousands more are getting a second chance financially by filing in 2010. Filing bankruptcy in Georgia has many advantages, especially if you’re in over your head financially. The problem many have is a lack of income and benefits. Some have no jobs, others no insurance, still more are in over their heads with credit debt. These tips may sound familiar. If you’re ready to make a move, contact a lawyer. But you need to hire one who can truly help.

Hire the Right Lawyer
We go over the many reasons you need a lawyer quite often on Georgia Debt Law. Unfortunately, many forgo hiring a lawyer because of a lack of income. It’s understandable: maybe you have no job, maybe you just received a huge credit card or medical bill, and paying money to a lawyer is impossible.

However, we all have ways of getting some money. Legally, you can get loans from friends and family, sell certain exempt assets, sometimes even negotiate with the lawyer on a payment plan. A lawyer is so valuable because he or she can help you fill out all forms correctly, handle any creditor problems you may be having, help you keep your assets, and most importantly discharge the majority of your debt. It’s easy to say, “you have to hire a lawyer,” but in reality, you may not have the means. If this is the case discuss your options with some qualified lawyers. Just making the call is a big first step.

If You Have No Job
If you have no job, filing Chapter 7 bankruptcy is a no-brainer. You have no income to be taken. You can prove you cannot afford a Chapter 13 repayment plan. What happened was the Bankruptcy Code of 2005 made it more difficult to file Chapter 7 bankruptcy nationwide. If you make too much money, you may be forced to file Chapter 13 and fund a repayment plan. However, if you have no job, it’s almost a good thing. You can clearly prove you cannot pay off these debts.

If You Have No Other Income
Also, if you have no other income coming in, say from disability or through a retirement plan, you are likely eligible for Chapter 7. Even if you have some money coming in, you are quite often eligible for Chapter 7. In Georgia, it’s based on the median income. If you are above, you have to file Chapter 13. Most with no jobs and minor income are eligible.

The Best Reasons to File
Filing can stop creditor harassment, give you a financial second chance, save assets from being taken, save you tens of thousands of dollars in credit or medical debt, and all for the cost of a $299 court fee and some lawyer expenses.

Foreclosure and Georgia Chapter 7
Filing Chapter 7 in Georgia is not always your best option. If you do have some money coming in, Chapter 13 may be better. In fact, it can save your home from foreclosure. Why? If you file Chapter 13 before the foreclosure papers are filed, an “automatic stay” is put on all your debts and stops any foreclosure. You can then renegotiate.

Credit Card and Medical Debt
Before you file Georgia Chapter 7 bankruptcy, consider all your options. If you have immense credit and medical debt, you can be free of it. These are the best reasons to file. Chapter 7 bankruptcy is a solution for those struggling financially. If you have no insurance, paying off a $100,000 medical bill may be impossible. If you made some financial mistakes and are in debt for tens of thousands on your credit cards, you may be in a hole impossible to dig out of. In these instances, filing Chapter 7 bankruptcy in Georgia can give you a fresh start.

Filed under: Bankruptcy Information — Tags: , , , , , , , — jmalewitz @ 1:52 pm

The Changes from the New Bankruptcy Law for Georgia Chapter 7 Filers

In 2005, a new bankruptcy law came into effect with some key changes you need to be aware of in order to successfully file. This blog guide focuses on the changes for Georgia Chapter 7 filers. If you have questions about filing Georgia bankruptcy you need to speak with an experienced lawyer.

Main Points
In short, the new bankruptcy law has made it more difficult to file Chapter 7 bankruptcy, with the option of filing with a Chapter 13 plan instead. This is based on how much you make. Prior to the new law, you had the option between Chapter 7 and Chapter 13. The most common form to use was Chapter 7, because you could literally discharge thousands of debt and lose nothing. Chapter 7 is still very common, but less so. There were also some changes made to how Chapter 13 filers, mainly based on giving you less disposable income to live on.

How do you know if you’re eligible?
Under the new bankruptcy laws, you must be below the average income for a family your size. So for Georgia filers, if you make more more than the median income for Georgia residents, you would have to file Chapter 13.

Accordingly, the more you make the less chance you have of being eligible. Here is a quick list as of April 2010 of the current median income.

Family Size 1 – Median Income $40,546
Family Size 2 – Median Income $55, 061
Family Size 3 – Median Income $60,887
Family Size 4 – Median Income $68,258
Add $7,500 for further family members.

If you are below, you are eligible for Chapter 7; if not, you must file Chapter 13. This obviously has been the law for many years, but many are unaware of the significant changes involved. So the higher your family income, the less chance you have of being eligible. You will have to go through a “means test” when you file, so if you’re unsure that can help.

What This Means for Costs
Because filing bankruptcy is now more difficult, lawyers are adapting their prices to the new time issues. It can take much more time to successfully file. While Chapter 7 bankruptcy is usually a quick process, the new means tests for eligibility make the paperwork somewhat more time consuming. It’s still very valuable to hire an experienced Georgia bankruptcy lawyer.

Getting Help
A professional lawyer can help you navigate these laws. Yes, the costs may be more, but don’t forget the benefits of filing, even if you can’t file Chapter 7. In Chapter 7, the majority of your unsecured debts, such as credit and medical debts, can be discharged completely. If you pay your lawyer $2,000 to successfully file, and discharge $50,000, you’re ahead by a lot of money. If you still have questions, a Georgia bankruptcy lawyer can help you with points such as eligibility, and also help you file Chapter 13 if needed.

Filed under: Bankruptcy Information — Tags: , , , , , , — jmalewitz @ 9:29 pm

How Georgia Joint Bankruptcy Can Help You

When it comes to joint bankruptcy and individual bankruptcy, it’s always smart to consult with an experienced Georgia lawyer with experience.

This blog guide can help. We’ll be going over exactly what joint bankruptcy is, the differences with individual bankruptcy, and how joint can help you and your family get a fresh start. Still, you should consult with a lawyer; laws can be complex.

The Basics of Georgia Joint Bankruptcy
For families, joint bankruptcy can save you a lot of time and money. It’s simply you and your spouse filing bankruptcy together. For Georgia home owners fearing foreclosure, filing Chapter 13 can help. For those who have large credit and medical debts, Chapter 7 is smart. In some cases, you may not be eligible – another reason to consult with a lawyer. If you and your spouse make too much, Chapter 7 may not be an option. If you owe too much, hundreds of thousands in secured and unsecured debt, you may not be eligible for Chapter 13. But for most Georgia residents, you can file at least one, save tens of thousands of dollars, and get a fresh start.

The Differences with Georgia Joint Bankruptcy
Georgia and all states have similar laws when it comes to joint bankruptcy, the only difference being the actual eligibility factors. If you file together, you can save time by filling out one set of documents. You can also save money on the filing fee – you need only file once together, and save $274-$299 depending on which form you file. You can also save your spouse from owing on debts you have together; creditors can keep calling if only one of you file.  And finally, you can save money with a Georgia bankruptcy lawyer.

How It Helps You
We went over some of the big advantages. In more detail, since there is less documentation and only one court hearing, it’s logical you save some time and money. You may not save thousands on your Georgia bankruptcy lawyer, but it can save the lawyer time so he or she might charge less. The minor filing fee may in fact be big – $274 saved for Chapter 13 and $299 saved for Chapter 7, not pennies.

Filing bankruptcy in general saves you far more than it costs you. If you have a $100,000 medical bill, Chapter 7 can discharge it. If your Georgia home you’ve put time and money into is in danger of foreclosure, Chapter 13 can save it with the “automatic stay” and allow you to make affordable payments on it.

Getting Help
This is a lot of information, but be mindful you need an experienced lawyer to help you. Bankruptcy law is not rocket science, but hiring the first lawyer you find, or the cheapest, can cost you more than it saves you. Consider several lawyers, go over rates, time, and experience, and get your deserved fresh start financially.

Filed under: Bankruptcy Information — Tags: , , , , , , , — jmalewitz @ 3:37 pm

If You Need Help in Georgia Bankruptcy Court

Bankruptcy gives you a second chance, and if you’re like the many Georgia residents who’ve suffered through a variety of income and debt problems – from medical debt skyrocketing to loss of a job – then you likely want to start taking some immediate action. You want that second chance, right?

You can get it by consulting with a professional Georgia bankruptcy lawyer, who can do a variety of things (given you choose the right one).

-A Georgia bankruptcy lawyer can explain your best options, such as choosing between Chapter 7 and Chapter 13 bankruptcy.
-A lawyer can stop creditor harassment completely, either by directing calls to their office or by writing a letter to the creditors.
-A lawyer can save you thousands if not tens of thousands by discharging medical, credit, and home debt with a Chapter 7 bankruptcy.
-A lawyer can save your home from foreclosure by helping you successfully file Chapter 13 bankruptcy, creating a debt repayment plan you can afford.
-A lawyer can advise you on budget plans; how to handle taxes, divorce, and other legal issues when bankruptcy is ongoing; and your options if you need a second bankruptcy in the future.

There is much more to what an experienced Georgia bankruptcy lawyer can do. In Georgia bankruptcy court, he or she can represent your best interests.

Chapter 7 bankruptcy can be quite complex. Do you qualify based on your income? What if you have a home and car, will you lose those? What debts will be discharged in Chapter 7, and when is Chapter 13 better?

These are all good questions. Yes, not all qualify for Chapter 7 based on income; if you make more than the median income for Georgia, you have to file Chapter 13. If you have a home or car, these possessions may be in danger; if you can pay on them, you may prefer Chapter 13.

In Georgia bankruptcy court for Chapter 7, you’ll be showing proof of income, what assets you have, and what debts you have. This is a very simple process if you hire the right lawyer. It can really take the pressure off the hearing, which you have little part in if you hire a lawyer.

For Chapter 13, it’s a longer process, making hiring the right lawyer even more important. Typically, a Chapter 13 debt repayment plan takes 3-5 years. If you fear missing payments or not being able to afford your plan, you can discuss your options with your lawyer.

The best part about hiring a lawyer is that he or she will quite often save you far more money than they charge. They also give you relief when it comes to any legal issues. When it comes to choosing between representing yourself in court, hiring a cheap lawyer, or hiring an experienced lawyer, be mindful of all that’s involved and how important this step is for you.

Filed under: Bankruptcy Information — Tags: , , , , , , — jmalewitz @ 4:07 pm


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