Athens, Georgia individual bankruptcy attorney

An individual can file for bankruptcy under Chapter 7 in Athens, Georgia and can have certain debts discharged if they fullfil the necessary requirements. These necessary requirements were formulated by the BACCP Act and now has both a means test and the necessity to undergo credit counseling. The process is complicated and you should use the services of a Athens, Georgia ndividual bankruptcy attorney
Before being permitted to file a Chapter 7 bankruptcy a person should prove that their disposable income falls below a certain threshold which can vary slightly from state to state based on the average income of that state.
The individual will also need to have received credit counseling from an accredited organization at some stage in the 180 days before their bankruptcy petition.
When the Chapter 7 petition has been filed in Athens, Georgia, an impartial trustee is appointed to liquidate the non-exempt assets of the debtor. The trustee generally will be an attorney or an individual who is aware of the bankruptcy laws and the courts. The trustee should hold a meeting of creditors, usually within 40 days after the date of filing. The debtor should appear at this meeting and should submit to an examination under oath. The examination generally is limited to questions about the extent and whereabouts of the filer’s assets. But, a trustee can ask questions to ensure the filer understands the likely results of bankruptcy, including the effect on his credit history, ability to file a petition under a different chapter, the effect of receiving a discharge, and the effect of reaffirming a debt. The initiation of a Chapter 7 petition in Athens, Georgia under the US Bankruptcy Code creates a bankruptcy estate. A trustee is entrusted with selling all assets of the estate.

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