Are you experiencing financial difficulties? Have you been considering filing for bankruptcy? This article provides information on different types of bankruptcy and how to file bankruptcy in Georgia.
Bankruptcy refers to a court proceeding governed by federal law to help creditors obtain relief for unpaid debts by restructuring, reducing, or discharging outstanding debts.
The relevant laws governing bankruptcy are contained in the US Bankruptcy Code. The bankruptcy process is detailed in the Federal Rules of Bankruptcy Procedure.
Georgia Bankruptcy Filing
Bankruptcy filing is a free service that you can perform using a booklet provided by a United States bankruptcy court. However, this booklet doesn’t provide the steps for filing a bankruptcy claim.
If you are unsure which bankruptcy category is right for you and how to manage your petition, consult an Atlanta bankruptcy attorney today and receive the help you need.
Different Types of Georgia Bankruptcies
Georgia bankruptcy courts provide different types of bankruptcies that you can file with the help of a bankruptcy law firm.
Chapter 7: Liquidation
Filing a petition under this chapter means that the court will rely on liquidation even if you are working with an attorney.
Chapter 7 bankruptcy involves liquidating your assets to repay loans and reclaiming personal property to pay car loans or secured loans. This type of bankruptcy is appropriate for those who want to dismiss unsecured debts or those who choose not to keep their assets.
Chapter 13: Repayment Plan
This chapter is considered by those who expect to earn some income in the next three to five years.
This is an option usually used by wage earners for bankruptcy protection. It involves reorganizing debtor files, proposing repayment plans, and making payments over three to five years.
Chapter 11: Large Reorganization
Chapter 11 bankruptcy targets reorganization by restructuring debts and following a repayment plan.
This type of bankruptcy is more relevant for companies, especially those who can alter how they operate to earn more income to pay their debt.
A creditor needs to file a petition at Georgia’s northern district bankruptcy court to initiate the process under this chapter.
Chapter 12: Family Farmers
Family farmers and fishers can file a petition to pay off some debts while keeping their businesses running on unpaid debt.
Chapter 15: Foreign Cases
Foreigners use this chapter to resolve any outstanding loans that they may have in the United States.
Chapter 9: Municipalities
This chapter allows towns or cities to negotiate a deal to pay their creditors.
Are Georgia Bankruptcy Records Public?
These records are public information in Georgia and can be accessed through an electronic public access service.
However, they can stop being public records if a judge seals the case records.
A judge may seal case records on the grounds of defamatory or scandalous remarks that don’t relate to the filed bankruptcy case.
Accessing Georgia Bankruptcy Court Records
These are court documents kept by the northern district court of Georgia. They are financial statements of an individual or a business that has filed for bankruptcy in the county.
You can access the court electronic records with a multi-court Voice Case Information System (VCIS). These records are also accessible in the court clerk’s office or the national archives.
How Do I Check the Status of My Bankruptcy Petition in Georgia?
Call 1-866-222-8029 to reach Georgia VCIS. Then press 1 or 2 for your preferred language.
Press 3 for bankruptcy information. Press 1 after Q and Z, then press # to submit the search query.
Listen to the bankruptcy case and docket information. If the system cannot find any information, your creditor hasn’t filed a petition at the bankruptcy court.
Get Help With Your Bankruptcy Petition
For more information on filing for bankruptcy in Georgia, contact an Austell Bankruptcy Lawyer. You’re welcome to contact us anytime.