Atlanta Chapter 7 Bankruptcy Lawyers
Helping You Find a Solution to Your Debt
If your financial situation is exhausting and stressful, you are not alone.
You might believe bankruptcy is something to avoid at all costs, but
hundreds of thousands of people use bankruptcy to obtain a fresh financial start every year—and you can, too.
Our Chapter 7 bankruptcy attorneys in Atlanta want you to know we are here
to support you, providing solutions that actually work. Our reliable team
at Holston & Huntley can help you with your financial crisis, no matter how dire.
Call (404) 620-3337 or
contact us online so we can provide you with affordable Chapter 7 bankruptcy services. We
offer complimentary consultations and reasonable payment plans for all
our bankruptcy clients.
What Is Chapter 7 Bankruptcy?
Although everyone has heard of bankruptcy, most people know very little
about it, except that it sounds risky and dangerous. In reality, bankruptcy
is an opportunity for a fresh start, and Chapter 7 bankruptcy is one of
the best options for those who are struggling to get back on their feet.
Here at Holston & Huntley, we want to clarify exactly what Chapter
7 is so you can make a fully informed financial decision.
Chapter 7 bankruptcy is a provision of the U.S. bankruptcy code that permits
individuals to liquidate assets and discharge (i.e. eliminate) debt. Therefore,
this form of debt relief is directed toward the most common consumer debts,
including credit card debt, medical bills, personal loans, and more. Once
the liquidation process is complete, the court can discharge any remaining
unsecured debt. Like all types of bankruptcy, Chapter 7 prohibits your
creditors from contacting you about debt and pursuing all collection activities,
such as garnishments, repossessions, and foreclosures.
Unfortunately, not everyone will qualify for Chapter 7 protection. We can
provide a personalized assessment of your situation to determine whether
you will be eligible for Chapter 7 and if it is the best possible solution
for your financial crisis.
The Chapter 7 Process
One of the greatest benefits of Chapter 7 bankruptcy is the debt discharge,
which liberates you from qualifying financial liabilities. However, you
must complete several steps before benefiting from this discharge.
The steps to filing for Chapter 7 include:
Meeting key income criteria – Your eligibility is determined by a means test, which calculates
your total income after supporting all the members in your family and
paying other household expenses.
Receiving credit counseling – This counseling must come from a certified agency, and you must
complete the course before you file. You must also complete a debtor education
course before the court can discharge your debt.
File an application with the bankruptcy
court – You must also give a complete list of any liabilities and assets,
in addition to other financial documents.