If you have decided that filing for bankruptcy is the best option for your financial situation, you should know that filing for bankruptcy in Georgia requires you to attend a court hearing in the local district. You can do so by paying the filing fee, or requesting a fee waiver. Georgia has three bankruptcy districts, each with multiple locations that serve different parts of the state. For your convenience, each district has its own web page with instructions and forms. To find your division, select “Court Information” from the navbar on the top of the page.
If you have more than enough equity in your home to qualify for Chapter 7 or Chapter 13 bankruptcy in Georgia, you may want to consider filing for Chapter 13. This type of bankruptcy requires you to negotiate a reduced balance with your creditors, with the goal of a portion of the debt being eliminated. You will likely be able to work out a payment plan with your creditors that can last anywhere from 12 to 60 months.
If you’re a homeowner facing foreclosure, you might be wondering how to save your home. Filing for Chapter 7 bankruptcy can save your home by removing most unsecured debt and leaving you with little to no debt. With a bankruptcy lawyer, you can even retain equity in your home through the homestead exemption. In addition to saving your home, filing for Chapter 13 bankruptcy will help you keep the equity you have in your property.
Typically, a trustee is appointed by the court to oversee the bankruptcy case and make sure your creditors are paid. In Chapter 7, the trustee will sell any non-exempt property. The proceeds of the sale will go to the trustee, who will then distribute the money to your creditors. In some cases, the trustee may decide to sell non-exempt assets and abandon them altogether. This type of bankruptcy is the best option for most people who don’t have a lot of assets and cannot afford them.
Filing for bankruptcy in Georgia requires a credit counseling course. You must take it at least 180 days before filing bankruptcy. There is a fee to complete the course, but you may be able to get this waived. The course takes about 1.5 to two hours and can be done online. Make sure you save your certificate with your bankruptcy documents. It will be important to have your creditor’s permission before you file for bankruptcy.
There are many requirements to file for Chapter 7 bankruptcy in Georgia. To qualify, you must not have filed for bankruptcy in Georgia before. Additionally, you must meet the means test. The means test compares your household income to the median income of Georgia. If your income is lower than this number, you can file for Chapter 7 bankruptcy, but if you make more than that, you must pass an additional test. In order to qualify for this type of bankruptcy, the court will calculate your disposable income, which must be enough to pay off your Chapter 13 debts.