Atlanta Chapter 7 Bankruptcy Attorney

Atlanta Chapter 7 Bankruptcy

Chapter 7 Bankruptcy allows you to eliminate most of your debts while keeping your property.

Chapter 7 bankruptcy in Georgia stops garnishments, lawsuits, foreclosures, repossessions, tax levies, student loan garnishments, collection letters and phone calls.

Here are some facts about Chapter 7:

  1. Eliminate Debt: Chapter 7 wipes out most debts including credit card debt, medical bills, car loans and mortgages. Chapter 7 can even eliminate old income tax debt.
  2. Keep Property: Chapter 7 allows you to keep your property in most cases. However property can be lost in some cases. You should consult an experienced attorney prior to filing a Chapter 7 to ensure that you receive correct information regarding which property you can keep. An attorney knowledgeable about bankruptcy laws can tell you if a Chapter 7 will work for you.
  3. Get out of car loans: If you have a car loan and you want to get out of the debt, a Chapter 7 might be ideal. With Chapter 7, you can return the car, and the debt will be gone.
  4. Eliminate Mortgage Debt: If you recently lost a home to foreclosure, or if you want to get out from under your home loan, Chapter 7 will eliminate the debt. You’ll have to return the home to the lender, but the debt will be gone.
  5. Stop garnishments and Lawsuits: Chapter 7 will stop all garnishments, including those for taxes and student loans.
  6. Fast and Easy Process: Chapter 7 takes only about 120 days to complete in most cases. You must take a credit counseling course before and after your case is filed. These courses may be taken on the internet or by telephone. Once filed, you’ll have to go to court for a five-minute hearing. Creditors rarely appear at these hearings.
  7. Limitations on Chapter 7: You can’t eliminate all debts in a Chapter 7 case. Student loans, most taxes, child support and alimony survive Chapter 7. However, eliminating your other debts in a Chapter 7 leaves you more money to make your payments on student loans, taxes and child support.

If you’re questioning whether you ought to file for bankruptcy, don’t hesitate to contact Atlanta Bankruptcy Attorney Mary Adkins. The Adkins Firm is here to help you!