Chapter 7 Personal Bankruptcy

Columbus Lawyer Handling Chapter 7 Bankruptcy Cases

A Chapter 7 bankruptcy, also called a "straight bankruptcy," is a form of personal bankruptcy that involves liquidating as much of the debtor's assets and  property, which does not fall under the bankruptcy exemption guidelines. The exemptions essentially allow debtors to keep sufficient assets to start on a clean slate. The exemptions in bankruptcy are a complicated area that a qualified and experienced bankruptcy attorney should only advise.

In short, the purpose of a Chapter 7 bankruptcy is to wipe out your debts, allowing you to get a "fresh start."

In a Chapter 7 bankruptcy, the court will appoint a trustee to liquidate (sell) all assets that do not fall under the bankruptcy exemption guidelines. The net proceeds collected in the liquidation of the nonexempt assets are then distributed to your creditors. In most cases, all of the property you own will be within the exemptions, and you will be able to keep all of the property in your possession.

Typically, an individual who files for Chapter 7 bankruptcy has a large amount of unsecured debt, including multiple credit cards, various other unsecured loans, taxes, and medical bills. The payment status may or may not be delinquent. In many Chapter 7 bankruptcy situations, you may be able to keep specific secured debts such as your car, furniture, or home, as long as you reaffirm your commitment to continuing paying these debts. To keep these items in a successful Chapter 7 bankruptcy, you must voluntarily sign a "reaffirmation agreement," which stipulates that the creditor will have the same rights against you after the discharge if you default, which they had before the bankruptcy was filed. Essentially the debt survives the bankruptcy.

We are extremely detailed in our preparation regarding your Chapter 7 bankruptcy, provide a comprehensive approach in seeking a successful Chapter 7 bankruptcy, and guide you through this challenging process with the dignity and respect you deserve.

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Pursuant to BAPCPA "We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code."

United States District Court ‑ Middle District of Georgia
United States Bankruptcy Court ‑ Middle District of Georgia
Court of Appeals of the State of Georgia
State Bar of Georgia
Supreme Court of Georgia
United States Court of Appeals for the Eleventh Circuit
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