Georgia Chapter 7 Bankruptcy Lawyers
Phone: 770-609-1247
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In a Personal Chapter 7 Bankruptcy case, you will usually be able to totally discharge the following types of debts:
Credit Card Debts- Store Charge Accounts
- Medical and Dental Bills
- Certain Kinds of Past Due Tax Obligations
- Contract Obligations
- Secured Loans
- Unsecured Personal Loans
- Mortgages, Home Equity Lines of Credit (HELOCs)
- Most Types of Law Suits & Judgments
Personal bankruptcy includes cases filed by single people, either spouse if married, and married couples. A discharge completely extinguishes the debt, meaning that the creditor can never ask you to pay the debt in the future. In addition, the creditor cannot take any action to collect the debt in the future. See 11 U.S. Code § 727 – Discharge.
There are other types of debts that may be able to be discharged.
In Georgia, the bankruptcy property exemptions laws allow the vast majority of people who file a Chapter 7 bankruptcy to keep all of their personal belongings, including their cars and home. Technically, under Chapter 7 bankruptcy law, a bankruptcy Trustee takes control of all property that is not protected by the Georgia bankruptcy exemptions law.
As stated above, most people that file bankruptcy get to keep all of their property because it is protected by the exemptions afforded for the law. Most debtors receive a discharge of their debts with three (3) to four (4) months of the filing of their case. However, in more complex cases it may take longer to get a discharge. The bankruptcy stay will protect the debtor from all collection activity by debtors unless a special order is issued by the bankruptcy court.
Business Chapter 7 Bankruptcy
In a business Chapter 7 bankruptcy case, the business is liquidated (all the assets are sold) for the benefit of creditors. Businesses are “liquidated” in a Chapter 7 bankruptcy case and do not receive a discharge. For a business to file bankruptcy, the business has to be officially organized as a Corporation, Limited Liability Company, or some other type of recognized form of organized business. Sole proprietors should consider filing a personal bankruptcy case if needed.
When a business files a Chapter 7 bankruptcy, the business should immediately stop all business operations and for all practical purposes, it goes completely out of business. However, the owner(s) of the business can start a new business at anytime before, during or after the bankruptcy case. A bankruptcy Trustee is appointed to “liquidate” (sell) the company’s assets and the money is used to pay off business debts. Business debts may include money owed to creditors, investors and even a sole owner.
Businesses are not generally allowed to retain any assets in Chapter 7 bankruptcy, but the Trustee may decide to “abandon” certain assets if the liquidation of the asset is more expensive than it is worth. Examples of property that may be abandoned by a bankruptcy Trustee may include, but is not limited to: old computers, office supplies, and old business furniture. In most small business bankruptcy cases, no assets are actually liquidated because the value of the assets is de minimis, having little to no liquidation value (Examples: Furniture, Unsold Inventory, Computers, Office Supplies).
As a court approved debt relief agency, we help people file for bankruptcy relief under the U.S. Bankruptcy Code. United States Bankruptcy Code pursuant to Section 528(a)(4).
Bankruptcy, Personal and Business Cases – Georgia Areas We Serve
Our Georgia bankruptcy lawyers and attorneys handle cases in the following cities and communities: Atlanta, Alpharetta, Roswell, Duluth, Johns Creek, Milton, Cumming, Suwanee, Sharon Springs, Marietta, Woodstock, Canton, Sandy Springs, Kennesaw, Gainesville, Midtown Atlanta, Norcross, Lawrenceville, Kennesaw, Buckhead, Dunwoody, Vinings, Smyrna, Buford, Inman Park, Old Fourth Ward, Decatur, Grant Park, East Atlanta, and the Virginia Highlands.
Our Georgia bankruptcy lawyers and attorneys frequently handle cases for clients residing in the following counties: Fulton, Gwinnett, Forsyth, Cobb, DeKalb, Henry, Cherokee, Douglas, Carroll, Coweta, Paulding, Bartow, Hall, Barrow, Walton, Newton, Rockdale, Henry, Spalding, Fayette, and Clayton.
Our main office is located in Alpharetta Georgia at: 11539 Park Woods Circle, Suite 304, Alpharetta, GA 30005. We also have offices conveniently located at:
| Alpharetta Georgia Park Woods Commons 11539 Park Woods Circle Suite 304 Alpharetta, GA 30005 Phone: 770-609-1247 | Map |
Atlanta Georgia |
| Dunwoody, Sandy Springs GA 400, Atlanta Georgia 1200 Abernathy Rd Building 600 Atlanta, GA 30328 Phone: 770-609-1247 | Map |
Cumming Georgia |
| Johns Creek, Duluth GA 11555 Medlock Bridge Road Suite 100 Johns Creek, GA 30097 Phone: 770-609-1247 | Map |
Duluth Georgia |
| Kennesaw Georgia TownPark Center 125 TownPark Drive Suite 300 Kennesaw, GA 30144 Phone: 770-609-1247 | Map |
Lawrenceville |
WE ARE A DESIGNATED DEBT RELIEF AGENCY, HELPING CONSUMERS FILE FOR DEBT RELIEF UNDER THE BANKRUPTCY CODE.
Copyright © 2023 | Coleman Legal Group, LLC | All Rights Reserved. Coleman Legal Group, LLC • 11539 Park Woods Circle, Suite 304 • Alpharetta, Georgia 30005 • 770-609-1247 DISCLAIMER: The information you obtain at this site is not, nor is it intended to be, legal advice. You should consult an attorney for individual advice regarding your own situation.
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