Athens, Georgia Bankruptcy

Athens, Georgia Bankruptcy

Bankruptcy process in Athens, Georgia begins with the filing of a petition in the bankruptcy court. The filing of the petition establishes a bankruptcy estate, that typically consists of all the assets of the person seeking bankruptcy protection. A separate taxable entity is established if the bankruptcy petition is submitted by an individual under chapter 7 or chapter 11 of the US Bankruptcy Code.

The bankruptcy petition is the document which starts the bankruptcy process. A petition can be a voluntary petition, which is filed by the debtor, or it can be an involuntary petition, that is filed by creditors that fulfill certain requirements. The voluntary petition must be as provided in Form 1 of the Official Forms prescribed by the Judicial conference of the United States. The Official Forms may be obtained at legal stationary stores.

The documentation required when filing for bankruptcy in Athens, Georgia has increased. For instance, you should provide additional information that details all income and expenses. In cases where the expenses are more than the IRS allowance, a special circumstances document should be submitted which reasons the necessity of the extra expense incurred. A statement of accuracy should also be submitted, together with these special circumstance documents.

---------------------
Athens Georgia bankruptcy lawyer | Bankruptcy attorneys in Athens GA and Athens-Clarke County - Filing for Chapter 7 Bankruptcy and Chapter 13 Bankruptcy