Filing for Chapter 7 in Georgia is not like buying some bread from the grocery store. There are many different parts which must be followed in order to properly file and complete the Chapter 7 bankruptcy process. You will have to go through every step in order to get through to the discharge of your debt so that you can begin to start building new credit that will allow you to go on with your life. You will have to go through the process of filing all necessary paperwork, paying fees, getting an automatic stay and meeting with your creditors.
Filing Your Chapter 7
To begin a Chapter 7 in Georgia, you will need to file a petition with the state bankruptcy court. You will need to provide file such documents as a list of all assets and liabilities, income and expenses, financial affairs, plus unexpired leases and executor assets. You will also need to provide the Trustee with a copy of your most recent taxes as well as any taxes you might file you are going through proceedings. You will also need to show evidence of primary debts, proof of credit counseling, last 60 days income from work, current and expected increases in income and expenses, as well as interest from state or federal education accounts.
Necessary Fees for Chapter 7
There are certain fees which are associated with filing Chapter 7 in Georgia. You will have to pay out $220 for filing fees, $39 for a miscellaneous administrative fee, as well as a $15 Trustee fee. The fees are due when you file for your bankruptcy in court. With special permission, individuals can be granted to pay in installments which can number no more than four. Additionally, the final installment is required to be paid within a 120 day period. This can be extended to a period of no longer than 180 days as long as cause can be shown. The only exception is for those who are within 150% of the poverty level.
Automatic Stay
When you file your petition, the bankruptcy court will inform all creditors of the fact you have filed. This will put a halt to almost all proceedings to collect debts. These include garnishments on your wages, lawsuits and also phone calls. While the bankruptcy automatic stay is temporary until the position of the court has been decided, it is enough for most people to get some breathing room to figure things out with their lawyer.
Meeting of the Creditors
The next step in a Chapter 7 in Georgia is the Meeting of the Creditors. This is a time where you and your creditors will meet with the Trustee on your case. This is a time where both you and your creditors may state you case. You are required to go to this whether you are filing alone or as a married couple. In the next ten days after the meeting, the Trustee will submit an opinion to the court about whether the case is an abuse under the Means Test or a valid bankruptcy.
Related Posts
- Chapter 7 Bankruptcy Overview
- Chapter 7 Bankruptcy Process in Georgia
- Who Can File for Chapter 7 in Georgia?
- Chapter 13 Bankruptcy in Georgia Overview
- When Filing Chapter 7 Bankruptcy Makes Sense
- Exempt vs. Non-Exempt Property in Chapter 7 Bankruptcy in Georgia
- Discharge of Chapter 13 Bankruptcy in Georgia
- Preparing for a Chapter 7 Bankruptcy in Georgia
- Getting to know the Parties Involved in Chapter 7 Bankruptcy in Georgia
- Changes to chapter 7 and chapter 13 bankruptcy laws for Georgia bankruptcy filings
