Chapter 7 Bankruptcy
If you are feeling overwhelmed by finances beyond your control, we can help. For decades, The Carr Law Group has helped our clients throughout the Northeast Georgia area escape debt and get their financial life back in order.
Chapter 7 bankruptcy is one of the most common solutions for overwhelming debt relief, as it allows the debtor to seek relief from their creditors and often discharge their problem debts entirely. If you have a substantial amount of debt you are unable to pay, or perhaps you are being harassed by creditors, our team of experts can help.
Who is Chapter 7 bankruptcy for?
Both individuals and business entities can file for Chapter 7 bankruptcy. This solution is typically meant for those with limited income and limited equity in assets, who do not have the ability to pay back debts.
How long is the process?
The Chapter 7 process typically takes about 4-5 months, after which you are discharged of all allowed debts, except those you choose to keep (often mortgage and car loans).
Can I keep my property?
With Chapter 7 Bankruptcy, you can usually keep your property by protecting it with bankruptcy exemptions. It’s important to meet with an attorney to make sure your property is protected before filing Chapter 7 bankruptcy.
Are all debts dischargeable under Chapter 7 bankruptcy?
No. There are some types of debt that will not be discharged throughout this process. Common debts that are not discharged include child support, alimony, student loans and recent tax debts.
How is Chapter 7 different than Chapter 13 bankruptcy?
Learn more about how Chapter 13 differs here. In short, Chapter 13 is a 3 to 5 year repayment plan, whereby you make monthly payments to the bankruptcy court that usually pays back some amount of money to your unsecured debts. Chapter 13 bankruptcy can also be used as a tool to catch up mortgage arrears and car loan payments to avoid foreclosure or repossession.
Have more Frequently Asked Questions?
Our team will be involved through every step of the process, from the bankruptcy filing to court appearances. The Carr Law Group is here to help provide you a debt relief solution that allows you to regain control of your life. For questions about eligibility, next steps, and costs, give our team a call at 706-754-9231 or fill out our quick contact form for a free consultation.