Bankruptcy: Chapter 7

You may be able to use Chapter 7 to provide you with many benefits.
It is for people with few or secured assets that they are willing to give up.
Chapter 7 is the type of bankruptcy that liquidates your debts except those that cannot be discharged. It lets you keep basic assets, like household goods, a certain amount of equity in your home or car, and all retirement and pension funds. There is no payment plan and the entire process to the date of a discharge could be as short as 120 days.
Chapter 7 Bankruptcy Form — bankruptcy in Columbus, GA
You can stop a pending foreclosure for a number of months, even if it is your intent to walk away from a mortgage you cannot afford. It will stop the foreclosure process and give you the time needed to find a new place to live. The mortgage company would file a motion for relief, which usually takes one month to complete. The lender would then have to start the foreclosure process all over again. You could have an additional 3-4 months in the home. Chapter 7 does not allow you time to catch up your mortgage. Most people, if behind, will surrender their home. It will give you some time to move at your discretion.

If you intend to keep any secured creditor's collateral, ex. an automobile, you must keep the payments current.

Under Chapter 7, you pay the court costs and attorney fees before filing.

Chapter 7 bankruptcy may eliminate most kinds of unsecured debt. Some examples of unsecured debts Chapter 7 may eliminate are credit cards, medical bills, most personal loans, judgments resulting from car accidents and deficiencies on repossessed vehicles.

In addition to getting rid of your debt, Chapter 7 typically allows you to keep all of your property. As long as your car and mortgage payments are current, and there is no significant equity in your property, we should be able to request the creditor to allow you to reaffirm the debt.

Keep your home, keep your car, keep your personal belongings, but eliminate your debt: that is our goal with Chapter 7. You may be able to use Chapter 7 to provide you with many benefits.

Stop Creditor Harassment

If creditors are bothering you at work, harassing your family, friends and neighbors, or calling at all hours, you can put an end to it immediately simply by hiring us to represent you. Upon retaining our services, we provide you with our telephone number so that you can refer your creditors to us. We will keep the creditors off your back, and you can stop paying your creditors immediately, except for secured items that you want to keep.

Eliminate Repossession Debts

After a vehicle finance company repossesses your car, they auction it to reduce their loss. You are still responsible for the balance on the car, called a ‘deficiency balance'. We can eliminate your liability for the entire deficiency balance. Remove the risk of lawsuits and garnishments by filing a Chapter 7.

Stop Garnishments

A Chapter 7 bankruptcy is one of the most effective ways to immediately stop garnishments. Garnishments can diminish your hard-earned income, making it nearly impossible for you to afford basic necessities. By filing Chapter 7 bankruptcy and stopping the garnishment, you will be able to use your income for more important necessities in life and start saving for your family's future.

End Lawsuit/License Suspensions

Many states have imposed laws that allow the state to suspend your license if you failed to maintain liability insurance at the time of the accident. We can help you get your license reinstated if it is suspended due to an uninsured car accident or unpaid parking tickets. We can also stop lawsuits related to those car accidents.

If you are being sued, and you own a home, we strongly urge you to speak with us immediately about filing bankruptcy. Chapter 7 or another form of bankruptcy to stop a lawsuit immediately and prevent your creditors from placing a lien on your home or garnishing your hard-earned wages.