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Georgia Chapter 7 Bankruptcy

Georgia Chapter 7 BankruptcyAre you thinking about filing for Chapter 7 bankruptcy? If so, then you need an experienced Georgia Chapter 7 bankruptcy attorney at your side. Attorneys Evan Watson and Carolyn Karettis are here to help.

In Georgia, Chapter 7 bankruptcy provides a fresh financial start to individuals who are unable to pay back their debts. Once granted, Chapter 7 bankruptcy voids most of your debts, so you are no longer responsible for paying them back. Prior to this, however, you must first surrender any assets you own—such as your car, home, or other personal property.

Under the Georgia Chapter 7 bankruptcy guidelines, some of your property may be exempt if you meet certain criteria. As a result, with the right attorney, you may be able to keep your home or vehicle even if you file Chapter 7 bankruptcy.

Before you can file for Chapter 7 bankruptcy, there are certain eligibility requirements you must meet. For example, you must complete a court-approved credit counseling session and have no previous bankruptcy claims within the past ten years. To qualify for Georgia Chapter 7 bankruptcy, your yearly earnings must also be less than the state’s median income—approximately $40,000 for an individual, $54,000 for a family of two, and $60,000 for a family of three.

However, even if your income exceeds these limits, you may still be able to file for Chapter 7 bankruptcy in Georgia. If you have a lot of expenses, for example, you may be eligible. An experienced bankruptcy attorney can determine if Chapter 7 bankruptcy is an option for you.

Once you decide to file Chapter 7 bankruptcy, you must first file a voluntary petition and submit a number of additional forms to the bankruptcy court. It is crucial that these forms be completed accurately, as just one error can lead to repossessions, foreclosures, or even criminal charges. Legal representation protects you from such risks by ensuring that all of these forms are completed properly.

After you submit your paperwork, you must next meet with your trustee and creditors, in court, to discuss your assets. If your trustee determines that you have any nonexempt property, you will be required to surrender it at this time. Approximately 60 to 90 days later, your bankruptcy claim will be finalized and your debts are legally discharged.

As experienced Georgia Chapter 7 bankruptcy attorneys, Evan Watson and Carolyn Karettis provide the protection you need during this stressful period. From determining your eligibility to filing the paperwork, we are here for you. Contact our firm today and put over two decades of legal experience to work for you.
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