Chapter 7 Bankruptcy
Chapter 7 bankruptcy is often called “clean-slate,” “fresh-start,” or liquidation bankruptcy because debtors can erase all their unsecured debts without losing items that are essential for living, like their homes and cars.
- Medical bills
- Personal loans
- Credit card debts
- Overdue rent payments
- Unpaid mortgage payments
- Utility Bills
- Promissory Notes
A Chapter 7 bankruptcy may also be used to stop wage garnishments, bank account levies, and other collection actions by creditors.
There are several non-dischargeable debts including child support and alimony debts as well as some IRS enforceable actions.
How to Qualify for Chapter 7 Bankruptcy
When the new bankruptcy law was introduced in 2005, the GA Means Test was established to evaluate the financial state of debtors and determine which type of bankruptcy was most appropriate.
Rather than being a test itself, the means test involves a mathematical formula that looks at everything that relates to a person’s financial circumstances, including the type of debts he or she has, as well as monthly income. It also takes monthly expenses into account and will determine whether the debtor is above or below the current median income in Georgia.
$999 Package Deal for an EZ Chapter 7 Bankruptcy
If you think you qualify for a Chapter 7 bankruptcy you can apply for our $999 package deal that involves a one-off fee with no additional charges.
The highly experienced Chapter 7 bankruptcy attorneys at Kakol Bankruptcy will guide you through the procedure and help get your life back to normal as quickly as humanly possible.
There are Georgia exemptions that apply to equity owned by debtors, so if your home is worth more money than you owe, a Chapter 7 bankruptcy won’t work. That’s why you need an experienced bankruptcy attorney to help you. The attorneys at the Law Offices of Stanley J. Kakol are knowledgeable in all the current bankruptcy laws. Call us today to schedule a consultation and get the process started.