In 2005 the Federal Bankruptcy Code was altered mandating that debtors qualify to file for Chapter 7 bankruptcy. The debtor has to first take the Means Test. If the Means Test shows that the debtor qualifies to file for a Chapter 7 bankruptcy then it is important to know that there are other requirements. All individuals filing for Chapter 7 bankruptcy protection has to attend a debt counseling course within six months of filing for Chapter 7 bankruptcy. Also the debtor can also be made to undergo a financial education course before discharge of the debts. All individuals considering bankruptcy should consult with an experienced Athens, Georgia personal bankruptcy as the changes to US Bankruptcy Code have now made it tough to qualify for Chapter 7. Before you can file for bankruptcy under either Chapter 7 or Chapter 13, you must complete credit counseling with an agency approved by the United States Trustee's office. The United States Trustee’s website located at www.usdoj.gov/ist has the list of the approved agencies.. This counseling is meant to give you an idea of whether there exists a real need to file for bankruptcy or whether an informal repayment plan would will be enough.
---------------------Athens Georgia bankruptcy lawyer | Bankruptcy attorneys in Athens GA and Athens-Clarke County - Filing for Chapter 7 Bankruptcy and Chapter 13 Bankruptcy
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