Macon Chapter 7 Bankruptcy Lawyer

Serving Individuals & Couples in Macon, Warner Robins & Central Georgia

Chapter 7 bankruptcy, known as the liquidation bankruptcy, is the most common form of bankruptcy filing in the U.S. It is the simplest and quickest way to have your unsecured debt discharged through the courts. Unsecured debt consists of debt that is not based on physical collateral, such as a home or vehicle. The major source of unsecured debt for most people is credit card debt. 

If you are drowning in an overload of debt, filing for Chapter 7 bankruptcy may be the best way for you to resolve it. At The Law Office of Kyle Krejci, Kyle can evaluate your debt situation and advise you on how Chapter 7 works, including its advantages and disadvantages, so that you can make an informed decision. Should you decide to move forward, Kyle can thoroughly prepare your case for court. He will be by your side throughout all phases of the Chapter 7 proceedings. 

Request a complimentary consultation with Kyle as a Macon Chapter 7 bankruptcy attorney by contacting The Law Office of Kyle Krejci at (478) 401-8886. 

How Chapter 7 Bankruptcy Works

Chapter 7 bankruptcy is referred to as the “liquidation” form of bankruptcy because your assets that are not protected by bankruptcy law are sold off and the proceeds are used to pay back your creditors. These assets are called “non-exempt.” In the majority of cases involving Chapter 7, people have few or no non-exempt assets that will be liquidated. Georgia provides a list of “exemptions” that are not subject to liquidation. These range from the equity in your home and car as well as other exemptions. 

If you have a lot of assets or assets in which you have significant equity, Chapter 7 may not be right for you. It does not provide a way to catch up on mortgage payment arrears or car loan arrears. 

Qualifying for Chapter 7 in Georgia

To initiate a Chapter 7 filing, you must qualify. If your family’s median income is not above the state median for a household of your size, you will automatically qualify. If your income exceeds that median, you may still qualify through a “means” test that allows you to deduct certain expenses that will reduce your income.