Savannah GA Chapter 7 Bankruptcy Attorney

Chatham County Georgia Chapter 7 Bankruptcy Lawyer

All you wanted to know about Chapter 7 Bankruptcy.

Chapter 7 filing protection is available to individuals, partnerships and corporations. The non-exempt assets of the debtor are sold by the court appointed trustee and the sale proceeds are used to pay off the creditors. The debtor can keep the exempt assets. Chapter 7 proceedings will not discharge the following debts:

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.

Chapter 7 filing explained.

A debtor can start Chapter 7 proceedings by filing a petition in the bankruptcy court after having completed credit counseling with a United States Trustee approved agency. The United States Trustee maintains a list of approved agencies in each state. Along with the petition, the debtor must also file many 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

The petition must be accompanied with a filing fee of $299. The court may allow the debtor 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.

A husband and wife filing jointly need to pay the fees only once. But if only one spouse files for bankruptcy, the court will need the financial information about both spouses to evaluate the couple’s financial situation.

Our bankruptcy attorneys are based in Savannah, Georgia (GA). We help clients in Savannah, Richmond Hill, Coastal Empire, Hinesville, Garden City, Tybee Island, Bloomingdale, Isle of Hope, Pembroke, Darien, Savannah, Brunswick, Statesboro, Vidalia, Claxton, Metter, Swainsboro, Baxley, and Jesup with Chapter 7 bankruptcy filings. We also serve clients in Waynesboro, Wrightsville, Chatham County, Bryan County, Glynn County, McIntosh County, Liberty County, Long County, Evans County, Bulloch County, Effingham County, Toombs County, and Fort Stewart GA and Hunter Army Airfield. We can help you file for Chapter 7 bankruptcy.