Harris County, GA individual bankruptcy attorney

An individual can file for bankruptcy under Chapter 7 in Harris County, GA and can have certain debts discharged when they fullfil the necessary criteria. The necessary requirements were established under the BACCP Act and now include both a means test and also the necessity to receive credit counseling. The process is complicated and you must use the services of a Harris County, GA ndividual bankruptcy attorney
Before being allowed to file a Chapter 7 bankruptcy an individual must prove that their disposable income is below a certain limit which can vary slightly from state to state depending on the average income of the state.
The person is also required to have undergone credit counseling from an accredited organization at some stage in the 180 days before their bankruptcy petition.
Once the Chapter 7 petition has been filed in Harris County, GA, an impartial trustee is appointed to sell the non-exempt assets of the debtor. The trustee generally will be a lawyer or someone who knows the bankruptcy rules and the courts. The trustee will hold a meeting of creditors, generally within 40 days after the filing date. The debtor should attend the meeting and must provide to an examination under oath. The examination usually is restricted to questions concerning the extent and whereabouts of the debtor's assets. But, a trustee can ask questions that ensure the filer is aware of the likely effects 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 proceeding in Harris County, GA under the United States Bankruptcy Code creates a bankruptcy estate. The trustee is entrusted with liquidating all property 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

Harris County, GA bankruptcy attorney

Typically, people are worried about who will find out about their bankruptcy. Your employer and your landlord will not be informed. You may technically file for bankruptcy every eight years under Chapter 7. Under Chapter 13, you can file as many times as is necessary so long as you have paid at least 70% of your unsecured debt under your previous Chapter 13 filing.

All taxes will not be wiped out by filing bankruptcy. However, in Chapter 13, you will not be required to pay interest or penalties. In Chapter 7 some taxes may be discharged. A seasoned Harris County, GA bankruptcy attorney can help you distinguish between those that may be discharged from the others.
The bankruptcy process in Harris County, GA has become more complicated and needs detailed planning and consideration. Therefore selecting a competent bankruptcy attorney in Harris County, GA is more important now than ever before. Trying to go through this process by yourself is a huge error and so is the decision to file before talking to an experienced Harris County, GA bankruptcy attorney.

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

Harris County, GA Chapter 13 Bankruptcy attorney

The Chapter 13 Bankruptcy has numerous added benefits over the Chapter 7 Bankruptcy. Unlike Chapter 7 Bankruptcy, in the Chapter 13 Bankruptcy, an individual can at least protect his house from foreclosure. All proceedings will come to halt if he files for Chapter 13 Bankruptcy. He will get a period of 3-5 years to pay back the creditors. A Chapter 13 Bankruptcy allows the individual to reallocate secured debts. It can over a period of time, lower the payments that he has to make. Finally a debtor will not have any connection or contact with his or her creditors once he or she has filed Chapter 13 Bankruptcy.
A Harris County, GA Chapter 13 Bankruptcy can assist you file for Chapter 13 Bankruptcy. Any individual, either self employed or working in any organization may file a chapter 13 bankruptcy in Harris County, GA and secure protection under it. The only criteria is that his unsecured debts must be lower than $336,900 and secured part of the debts below $ 1,010,650. No organization may seek help or file chapter 13. An individual cannot file for chapter 13 if his bankruptcy application was dismissed 180 days prior to the filing.

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

Harris County, GA Chapter 7 attorney

Chapter 7 deals with liquidating the filer’s assets rather than repayment. Earlier filers could choose whether they wanted Chapter 7 or 13. But now, if their income is high, they do not have a choice and should file under Chapter 13. In order to file Chapter 7, the filer must prove that his disposable income is less than a certain low sum of money. Consult with an experienced Harris County, GA Chapter 7 attorney to know if you qualify for Chapter 7. For Chapter 7, assets are liquidated and the proceeds are used to repay the debtor’s debts. Chapter 13 involves repayment. All income is used for paying off creditors. When available income is more than that of the median in Georgia, the debtor’s allowable expenses will be decided by the IRS. This amount should come out of the filer's income during the six-month period before the filing. A chapter 11 debtor has a one-time absolute right to convert the chapter 11 proceeding to a case under chapter 7 except if (1) the debtor is not a debtor in possession, (2) the case initially was started as an involuntary proceeding under chapter 11, or (3) the proceeding was converted to a proceeding under chapter 11 but not at the debtor's request. A debtor in a chapter 11 proceeding does not have an absolute right to have the case dismissed upon request. There are major exceptions to the conversion process in a chapter 11 proceeding. Unless the debtor requests the conversion, section 1112(c) of the United States Bankruptcy Code does not allow the court to convert a case involving a farmer or charitable institution to a liquidation case under chapter 7.

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

Harris County, GA farm bankruptcy attorney

Chapter 11 allows the debtor to operate its business by means of a plan of reorganization, that should meet certain statutory criteria. By creating chapter 11, the Congress provided the debtor an opportunity to restructure its finances so that it may continue to operate, provide its employees with jobs, pay its creditors, and produce a return for its stockholders. As chapter 11 deals with an ongoing business, the most likely individuals to have knowledge and details of the business are the present managers who often continue operations during the chapter 11 proceeding. The main rationale of business reorganizations is that the value of an ongoing is greater than it would be if its assets were liquidated. Chapter 12 is a U.S. bankruptcy proceeding intended for family farms or fisheries which gives the farm or fishery owner the ability to reorganize his or her finances and debts while still keeping the farm or fishery. The farm or fishery owner should co-ordinate with a bankruptcy trustee and creditors to formulate a payment program that will meet his or her owner obligations. This Chapter 12 proceeding in Harris County, GA is available for individually run family farms and fisheries as well as those owned by a corporation or partnership. Chapter 12 was created in 1986 epecially for farms and fisheries to make the bankruptcy process easier for these types of businesses. Before Chapter 12, farmers would have to either file for protection under Chapter 11, which can be very expensive and is mainly for large companies, or Chapter 13, which is essentially for those with relatively small outstanding debts (typically not the case for farms and fisheries). Farm debtors considering bankruptcy must consult a Harris County, GA farm bankruptcy attorney to know about the options.

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

Bankruptcy in Athens, Georgia

Title 11 of the United States Code contains the federal bankruptcy law. The US Constitution, in Section 8, grants Congress the power to create uniform laws on the subject of bankruptcies all over the US. States don’t regulate bankruptcy but they can pass statutes that influence other aspects of the debtor-creditor relationship. Therefore it is important to understand the federal rules that are applicable to bankruptcy as well as any state laws that are applicable.
Since April 2005 some major changes to bankruptcy rules were made by the Bankruptcy Abuse Prevention and Consumer Protection Act, affecting all bankruptcies filed after October 2005. The assets in Individual Retirement Accounts are exempt assets and cannot be sold to pay creditors. To restrict the availability of a Chapter 7 discharge of debt, the rules have been significantly revised. A Means test now determines eligibility for filing Chapter 7. Debtors must participate in approved credit counseling prior to filing for bankruptcy. Filing fees have been increased and subsequently attorney fees have also gone up.
There is a lot of misinformation available there for persons contemplating bankruptcy. If you are thinking about filing bankruptcy, there is no reason to be alarmed by this test. If you are well below the state median income, this change will not affect you. Even debtors who are above the state median income generally can qualify for chapter 7 because the expenses are way too high to be eligible. However, if you have an income near your state's median, you must consult a seasoned bankruptcy in Athens, Georgia.

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

Athens, Georgia personal bankruptcy attorney

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