Atlanta Chapter 7 Bankruptcy: Atlanta Bankruptcy Law News

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Chapter 7 Bankruptcy in Atlanta

When you are in financial turmoil the last thing you want is to deal with confusing legal terms. But despite the headache, it is advisable to learn the words Chapter 7 Bankruptcy.

A Chapter 7 Bankruptcy is the most thorough kind of bankruptcy an individual can file. A Chapter 7 Bankruptcy allows for all debt to be expunged, assuming that it is not student loan debt, child support debt, or tax debt. But a Chapter 7 proceeding is not as easy as it first seems. First, a person must qualify under the “means test.” In it, the Bankruptcy Court will evaluate your income from the previous six months. If you fail the means test, then you might not be able to do a Chapter 7 bankruptcy.

While some people try to pull off a bankruptcy on their own, it is advisable to use an Atlanta Bankruptcy attorney so you don’t accidentally end up giving up assets you might have been able to keep.


Recently in Chapter 7 Bankruptcy Category

Can You Be Bankrupt and Live in a Mansion?

Todd Chrisley, of the new reality show "Chrisley Knows Best," filed for Chapter 7 bankruptcy to resolve $49.4 million of debts, but he still looks mighty rich in his lavish 30,000 sq. ft. Atlanta mansion. What gives?

Contrary to popular belief, there are certain assets you can keep when you file for Chapter 7 bankruptcy. But there are also penalties when you try to hide your assets.

Chrisley is currently caught between these two rules.

How Long Will My Bankruptcy Take?

One of the most common questions people facing bankruptcy have is how long their bankruptcy will take.

The answer to that question will depend on the circumstances of your particular case as well as what type of bankruptcy you are filing: namely, Chapter 7 versus Chapter 13.

Chapter 13 bankruptcy cases take longer to resolve than Chapter 7 cases and involve different steps along the way.

Can I Keep My Credit Card After Filing Bankruptcy?

In most cases, banks cancel a debtor's credit cards when they receive notice of his or her bankruptcy.

But as always, the general rule has exceptions.

Whether or not you can keep your credit card after filing bankruptcy will largely depend on your bank and under what bankruptcy chapter you are filing.

5 Forms You Need to File for Bankruptcy

Filing for bankruptcy in Georgia can be a tedious process that calls for sifting through your financial records and filling out a mountain of forms.

Fret not, dear paper shuffler. To get started, familiarize yourself with the following five categories of forms you'll need to file for bankruptcy:

Deciding on the right bankruptcy attorney can be just as draining as the bankruptcy process itself. If you don't know what to look for in a lawyer, the whole experience of researching and meeting with potential attorneys can be pretty overwhelming.

Don't worry. We've got you covered. Here are five tips to help you find the bankruptcy lawyer who's right for you:

Tax Refunds Trigger Bankruptcy Filings, Study Suggests

Do tax refund checks result in more bankruptcies?

There seems to be a correlation. According to the Los Angeles Times, bankruptcies rise after tax refunds are issued.

That seems counter-intuitive on one hand. On the other hand, it makes perfect sense.

5 Facts You May Not Know About Bankruptcy

Many people don't fully understand what the word bankruptcy really means. When they think of someone who is bankrupt, they imagine someone in a poor house with nothing but the clothes on their back.

But did you know that in many cases, bankrupt individuals go on to live the same lives they were already living?

Do you really know what bankruptcy is all about?

3 Things to Do Before You File for Bankruptcy

If you're thinking about filing for bankruptcy, you might not know where to start. The process seems scary at first and at the end of the day, it's a legal proceeding.

That means that there will be many things to think about and many things to learn before you take the plunge.

If you're contemplating filing for bankruptcy, here are three steps you should take immediately:

Bankruptcy 101: Difference Between Chapter 7 and Chapter 13

Bankruptcy sounds like a complicated concept. If you're thinking of filing for bankruptcy, the whole legal complexity of it might be enough to turn you away from the idea.

In reality, however, bankruptcy isn't as complicated as it seems.

Here are the general differences between a Chapter 7 and a Chapter 13 bankruptcy:

The 5 Best Ways to Recover From Bankruptcy

Bankruptcy sounds very scary, but actually it's not the worst thing ever.

In fact, many people who declare bankruptcy are happy they did so, as it gives them a fresh slate and a chance to move on.

But how does one move on after a bankruptcy? A bankruptcy still isn't as easy as one would imagine.

Here are the five best ways to move on after declaring bankruptcy: