Bankruptcy Process in Marietta Georiga
If you have found yourself unable to pay your debt, then you may want to consider bankruptcy. This can be a valuable resource that allows most or all of your debts to be released. Before pursuing this course of action, however, you should consult with a Marietta bankruptcy attorney from my firm. As a professional focusing solely on bankruptcy, I can help you assess your situation and see if there are any alternatives to bankruptcy that may be better for you.
First, individuals seeking to file for bankruptcy should complete the means test, which will allow you to find out which type of bankruptcy you will be eligible for. The test will compare your income with your expenditures to see if you should file for Chapter 7 bankruptcy or Chapter 13. Under the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA), individuals are required to also complete six months of credit counseling by a certified person. This should be done before filing for bankruptcy.
After fulfilling your counseling responsibilities and taking the means test, the next step in the bankruptcy process would be to gather paperwork. You will need to begin by listing your current income and assets, including real estate and personal property. In addition, you should itemize your liabilities, including monthly expenses, debts, and any major financial transactions from the past two years. It is also beneficial to include tax returns, car titles, real estate deeds, and any other relevant documents. To make sure that you don’t miss any important items, you should talk to our bankruptcy attorney who can help you streamline the process.
After compiling the appropriate documents, your attorney will file a petition and other required forms at the Georgia Northern Bankruptcy Court, or the bankruptcy court in your district. Once the paperwork is filed, then you will have an automatic stay, which prohibits creditors from claiming any of your property. Your property will then be legally under the control of the Georgia courts and a trustee will be appointed to see that your creditors receive as much as possible.
About a month after you file, the trustee will call a meeting with you and your creditors, which you are required to attend. This is called a §341 meeting, named after the law that specifies this gathering must take place. It is typically very brief and not many creditors will attend. You will be required to answer a number of questions from your trustee and creditors under oath. After the meeting takes place, your trustee and creditors will have 60 days to challenge your right to discharge your debt. If there are no issues, then your court will send a notice that your debts have been discharged about three to six months after the 60 days period.
I know that you may be overwhelmed by the complicated process of filing for bankruptcy, but don’t despair! Call the Cherney Law Firm for wise counsel and compassionate help. My legal team wants to make sure that this process is as easy as possible on you, so take advantage of your free consultation today!
If you do in fact decide that bankruptcy is the best plan, then there are certain actions that you need to take. The U.S. and Georgia State governments have a number of laws and requirements regarding bankruptcy and debt relief, which a bankruptcy lawyer can guide you through to ensure that everything is done correctly.