Deciding to File a Chapter 7 Bankruptcy

Columbus GA Chapter 7 Bankruptcy Lawyer

When you decide to file for bankruptcy, the choice of which chapter to file under is always a problem. It is best to consult an experienced and able bankruptcy lawyer with your dilemma. With his experience and knowledge of bankruptcy law he would be able to help you in making your decision. New reforms have been added to U S Bankruptcy Code making it difficult to qualify of chapter 7 bankruptcies. Nevertheless, people in genuine need get through the means test.

A person struggling with debt is offered many choices of filing for bankruptcy. Chapter 7 bankruptcy is the most commonly sought after as well as preferred option of most debtors. Let us examine some of the reasons why chapter 7 is a favorite.

• Chapter 7 bankruptcy takes only a maximum of 100 days from date of filing to come to an end. As soon as case is field, a creditors meeting is held within 30 days, and two months hence the case comes to an end. If there are any objections raised by any creditor, the process might take a little bit longer.
• State and federal exemption laws allow debtor to protect a large portion of his property. Most trustees conclude cases with no properties being forfeited.
• Chapter 7 bankruptcies are relatively less expensive when compared to chapter 13. At a time when finances are tight, this could be a relief.
• Unsecured debts are completely discharged and thus there is no need to worry about credit cards, medical bills, utility bills, mortgage foreclosure obligations, car repossessions etc. If bankruptcy was filed in good faith and there were no objections raised by creditors, you will be free of debts by the end of chapter 7 bankruptcy.
• Bankruptcy is a private affair and nobody other than you, your attorney, creditors and court is aware of it. The record of your bankruptcy is accessible in court, but unless you are famous nobody would be interested.
• It is possible to reestablish credit within a short span after your filing for chapter 7 bankruptcy. Since your debts have been discharged, your debt to income ratio improves. Thus you can begin building your credit again.
• There is very less associated stress, especially if your bankruptcy attorney is looking after legal aspects of the case. There would be around 3 to 5 minute hearings with trustee and some times there is absolutely no need to go to court in chapter 7 bankruptcy case

Filing of chapter 7 bankruptcy in good faith can save you from the burden of debt as well as give you another chance to start your financial life afresh, making sure that this time round, you will not mess it up.

Our Chapter 7 attorneys are based in Columbus, GA. Our bankruptcy lawyers handle debt relief cases in and around Columbus, Fort Benning, Chattahoochee County, Harris County, Marion County, Muscogee County, Lagrange, Albany, Newnan, Peachtree City, Carrollton, Troup County.