FAQs

Chapter 7 is a liquidation bankruptcy or a straight bankruptcy. If the party to the filing doesn't have anything to liquidate, then most of the debts of the individual will be discharged in the bankruptcy. The court is only interested in property of value that can't be protected by exemptions under the law of the state filed. Chapter 7 does not require a repayment plan like Chapter 13. Most people file Chapter 7 when they're current on all secured assets that do not exceed the exemptions under the law.

Chapter 13 is a repayment plan. Most people file Chapter 13 to keep a house, car, or any other secured item and are behind in the payments for those items. They want to keep those things and they need a way to catch up. For either case, our bankruptcy lawyer in Stockbridge, GA can help walk you through this process.

The income of the debtor must not exceed the income limits required by the court. There are presumptions set for income depending on the debtor's household size and the limits set by the IRS. The presumption is one that can be rebutted with evidence to the contrary. Did you know that, according to Epiq, 66,861 filings for Chapter 7 bankruptcy occurred in the first quarter of 2024? When you're one of the many considering Chapter 7 bankruptcy in Stockbridge, GA, turn to Broadnax & Martin PC for assistance!

Chapter 7 filings will remain on an individual's credit report for 10 years. Chapter 13 filing will remain on the individual's credit file for seven years. Removal of the filings from the credit report is done automatically by the reporting agency. If you need to know more about how filing for Chapter 13 or Chapter 7 bankruptcy in Stockbridge, GA will impact your credit, reach out today!

If you're behind and the property is exempt, then you will have to enter into a repayment plan, and that will keep you from losing the car or home. Chapter 13 will allow you to catch up on the pre-petition mortgage arrearages through the plan under a confirmed bankruptcy plan if you have sufficient income to fund the said plan. The same goes for the vehicle. You will be allowed to keep the vehicle and pay a monthly plan payment to cover the vehicle. Call our bankruptcy lawyer in Stockbridge, GA today!

It depends. If you're in a Chapter 13 plan, you'll likely have to contribute the refund to the plan. If you're in Chapter 7 bankruptcy in Stockbridge, GA, the circumstances will be different.

Yes, bankruptcy will stop a garnishment immediately. In some instances, you may recover the funds that were already garnished. Our bankruptcy lawyer in Stockbridge, GA can help with that!

If your debts are joint debts, it may. Be sure to speak with a bankruptcy lawyer in Stockbridge, GA before making a decision that can impact your spouse.

Most people can if they take advantage of the ability to start over and rebuild their credit properly. This goes for both Chapter 13 and Chapter 7 bankruptcy in Stockbridge, GA.

The cost of bankruptcy depends largely on the complexity of the matter. Our attorneys have stated that the filing fees for Chapter 7 are $338.00 and $313.00 for Chapter 13. Attorneys fees for Chapter 7 bankruptcy in Stockbridge, GA can range from 1,500 and up. Attorneys fees for Chapter 13 can range from $4,500 to $5,200.