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Gwinnett County Chapter 7 Bankruptcy Attorney

Understanding Chapter 7 and If It Is Right For You

If you find yourself overwhelmed by your debt or facing constant harassment from collections agents, it may be time to explore if bankruptcy makes sense for you. Chapter 7 bankruptcy, commonly referred to as “liquidation” bankruptcy, is one of two types available to individual consumers. A successful Chapter 7 bankruptcy can help you eliminate debt and obtain a clean financial slate and fresh start.

Filing for any type of bankruptcy on your own can be confusing, and it is easy to make mistakes. At Schuyler Elliott & Associates, Inc., our Gwinnett County Chapter 7 bankruptcy lawyer can help guide you through the process and advocate for your financial interests. Our lawyer has nearly 30 years of experience and is ready to help you work to find freedom from debt.

To schedule a free consultation, call (770) 400-9102 or contact us online today.
Our Chapter 7 bankruptcy attorneys in Gwinnett County are here to guide you.

Do I Qualify for Chapter 7?

You must meet certain criteria in order for your debts to be discharged through Chapter 7. If you have property, you are able to file for Chapter 7, however, there are qualifications that you must meet in order to be able to get your debts discharged.

You must be able to pass the “means” test.
You cannot have filed a previous bankruptcy within a certain period.
The bankruptcy court must not believe you are cheating creditors.
You must be a natural person.

The means test determines whether or not you have enough disposable income available to repay your debts over a five-year period. Your disposable income is what is left after specific expenses have been deducted from your monthly payroll.

If you have already discharged a debt within the last eight years, you are not allowed to file for Chapter 7 bankruptcy. If you filed for Chapter 13 bankruptcy within the last six years, you cannot file for Chapter 7 either. Finally, you are not able to file if your previous Chapter 7 was dismissed within the last 180 days for:

Your violation of a court order.
Your case was filed fraudulently.
You requested a dismissal.

What is the Means Test?

The means test was designed to restrict the number of debtors who can get their debts forgiven via filing Chapter 7. It helps determine who is eligible to file. The test calculates if you have enough disposable income to repay your debts while also being able to live comfortably. It accounts for how much you make, expenses, and the size of your family. Chapter 7 is a liquidation bankruptcy, meaning certain assets will be sold. If you do not qualify or wish to keep certain assets, Chapter 13 may be a better option for you.

The Chapter 7 Process

If you do qualify for Chapter 7 and choose to move forward, you can expect to undergo several mandatory steps:

Attend an online or phone credit counseling course
File formally for bankruptcy
Send a copy of your tax return to your appointed bankruptcy trustee
Attend a creditor’s meeting after filing and presently is being done over the phone.

Bankruptcy is not right for everyone, but it can be a powerful tool in managing overwhelming debt. One of the key benefits of filing Chapter 7, for example, is a court issuing an automatic stay, protecting you from any further creditor harassment, stopping lawsuits, garnishments, foreclosure and vehicle repossession.

Understanding the Benefits of Chapter 7 Bankruptcy

Chapter 7 bankruptcy is a powerful tool that can help you achieve debt relief and regain financial freedom. It is a legal process that allows individuals to eliminate unsecured debts, such as credit card debt, medical bills, and personal loans, without having to pay them back. Here are some of the benefits of filing for Chapter 7 bankruptcy:

Immediate debt relief: Once you file for Chapter 7 bankruptcy, an automatic stay goes into effect, which stops all collection actions and creditor harassment. This means you can start living without the constant stress and worry of debt collectors calling or lawsuits being filed against you.
Fast process: The Chapter 7 process typically takes around 3-6 months, which means you can quickly move on with your life and start rebuilding your credit.
Elimination of unsecured debts: Chapter 7 bankruptcy allows you to eliminate most unsecured debts, which means you can start fresh with a clean slate.
No repayment plan: Unlike Chapter 13 bankruptcy, which requires you to repay a portion of your debts over a 3-5 year period, Chapter 7 does not require a repayment plan.
Protection of assets: Many people are afraid to file for bankruptcy in Georgia because they fear losing their assets. However, in most cases, Chapter 7 bankruptcy allows you to keep your exempt assets, such as your home, car, and personal belongings.

If you are struggling with debt and considering bankruptcy, contact Schuyler Elliott & Associates, Inc. today. Our experienced Gwinnett County bankruptcy attorneys can help you determine if Chapter 7 bankruptcy is the right solution for your financial situation.

Contact Our Gwinnett County Chapter 7 Bankruptcy Lawyer

If you think filing for bankruptcy might be right for you, or you are still confused about what the process entails, we want to help. We at Schuyler Elliott & Associates, Inc. have successfully represented thousands of clients in their legal matters, and our Gwinnett County Chapter 7 bankruptcy lawyer is ready to use that experience to champion your case and work toward the best financial outcome possible. If Chapter 7 bankruptcy is not right for you, we can also help with Chapter 11 and 13 bankruptcies, in addition to loan modifications.

Fight for the fresh financial start you deserve with the help of our experienced Gwinnett County Chapter 7 lawyers. Call (770) 400-9102 or contact us online for a free initial consultation.

Commonly Asked Chapter 7 Questions

What are the benefits of filing for Chapter 7 bankruptcy?

One of the key benefits of filing for Chapter 7 bankruptcy is that a court will issue an automatic stay, protecting you from any further creditor harassment, stopping lawsuits, garnishments, foreclosure, and vehicle repossession.

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