Chapter 7

The U.S. Bankruptcy Code governs bankruptcy. The most common form of bankruptcy is Chapter 7 bankruptcy, which is also called straight bankruptcy or liquidation bankruptcy. Chapter 7 is generally the simplest and quickest form of bankruptcy. Chapter 7 bankruptcy is available to individuals, married couples, corporations, and partnerships, and is most often chosen for personal bankruptcy.

  • Most Student Loans
  • Back local, state, and federal taxes
  • Debts from fraud, embezzlement, larceny, or breach of fiduciary duty
  • Child support and alimony
  • Fines or penalties

Many requirements must be met to properly file for Chapter 7 bankruptcy. For instance, you must obtain approved credit counseling before you can file bankruptcy and you must file any overdue tax returns within weeks of filing a Chapter 7 bankruptcy in Atlanta. A skilled Atlanta bankruptcy attorney can help you meet all deadlines and filing requirements.

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Steps for filing

Chapter 13

Chapter 13 bankruptcy, also called reorganization bankruptcy, or wage earner bankruptcy, uses the income of a debtor over time to pay what is owed creditors. Filing Chapter 13 allows consumers to restructure their debt payments and keep assets. While it is sometimes referred to as a wage-earner plan, Chapter 13 is available to persons on welfare or with other kinds of regular income.

  • Restructure Debt
  • Keep Assets

Chapter 13 bankruptcy requires that you show the court that you have an income that allows you to meet your payment obligations. If the income of a debtor is irregular or too low, or if total debt burden is too high, the debtor is likely to be found ineligible to file for Chapter 13

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Steps for filing

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The information provided on our website is not, nor is it intended to be legal advice. For legal advice or counsel you should consult directly with an attorney. Contacting us via this website, email, fax, phone, or other electronic means of communication does not create a client-attorney relationship. Please do not send to us any confidential information until a formal attorney-client relationship had been established. Pursuant to 11 USC §528, all bankruptcy attorneys have been designated “debt relief agents” and are required to disclose that we help people file for bankruptcy relief under the United States Bankruptcy Code.