Chapter 7 bankruptcy is often referred to as a “fresh start” bankruptcy. The reason is most unsecured debts are discharged and you are left debt free. After your initial free consultation we can tell you whether you qualify for Chapter 7 or not. The good news is most clients qualify. Chapter 7 will also immediately stop collection harassment, wage garnishment and bank account seizures. Once we file your case, your creditors must stop any action to collect a debt from you.
To determine if you qualify we look at 4 important questions:
1. Your monthly income and expenses.
First we make sure you can pass the Means Test, which looks at your income over the past six months and then compares that income to a household of your size in Georgia. Most clients pass the means test. We also will review your specific income and expenses to ensure your budget qualifies you to file Chapter 7.
We inventory and value your assets. We will review real estate, automobiles, and other personal property of high value. We then protect these assets by using the exemptions that Georgia bankruptcy law and federal bankruptcy law allow.
Your attorney will examine your debt and determine how each of your creditors will be affected by your bankruptcy case. Most debt – such as credit card debt, medical bills, unsecured loans, second mortgages, and payday loans can be completely wiped out.
We will fast-track your bankruptcy case to be filed if you are facing garnishment, foreclosure, or some other legal action.
Struggling with debt can be overwhelming. If you’re ready to get your life back, contact King & King and schedule a free consultation with one of our bankruptcy attorneys at 404-524-6400. We can help you protect your home, your vehicles, and in most cases, everything else you own.