Chapter 7 Bankruptcy Lawyer in North Atlanta
If you are in serious debt, filing Chapter 7 bankruptcy is the fastest and simplest way to get a fresh financial start. At The Troglin Firm in North Atlanta, we offer a free attorney consultation to discuss your case and determine if Chapter 7 bankruptcy is the best solution for your debt problems.
Filing Chapter 7 bankruptcy will take about six months from start to finish. At the end, you will obtain a complete discharge of unsecured consumer debts such as credit card bills, payday loans, lawsuit judgments and medical expenses.
Am I Eligible to File Chapter 7 Bankruptcy?
To file Chapter 7 personal bankruptcy, you must first pass a means test. If your combined income is less than the median income for a family of your size in the county where you reside, you can file Chapter 7 bankruptcy without what's called a "presumption of abuse."
If your combined income is above the median income, then lawyer Mike W. Troglin will need to go further into the means test and determine if you earn enough money, after paying living expenses, to pay off some of your unsecured debts. If you can pay unsecured creditors at least $100 a month for 60 months, you will be forced to file a Chapter 13 bankruptcy to obtain debt relief.
Will I Lose My Home and Car in a Chapter 7 Bankruptcy?
You can keep some or all of your property in a Chapter 7 bankruptcy case. There are two requirements:
- You have to be within the bankruptcy exemption boundaries. In Georgia, you can keep up to $20,000 in home equity if you are married and up to $3,500 in equity in a car. Even if you have more equity in your home or car, it may not be worthwhile for your creditors to sell the property.
- If you have a mortgage on the home or a loan on the car, your payments must be current.
If you are behind on your payments or have significant equity in your property, you can keep your property by filing Chapter 13 bankruptcy.
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Free Attorney Consultation
Your initial consultation is always free at The Troglin Firm. To schedule an appointment with lawyer William M. Troglin, call 678-894-2931 (877-839-9186 toll free) or fill out the contact form on this site. We are located in the Oak Lake Office Center in North Atlanta.
