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:
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:
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.