If you’re considering filing bankruptcy in Atlanta, GA, you’ll need to understand the types, costs, as well as some helpful advice to finding good attorneys.

Am I Qualified for Bankruptcy?

Filing for bankruptcy in Atlanta, Georgia, or anywhere else in the United States, is a legal process that allows individuals and businesses to seek relief from overwhelming debt. However, not everyone is automatically qualified to file for bankruptcy, and eligibility depends on various factors, including your financial situation and the type of bankruptcy you want to pursue.

Types of Bankruptcy:

In the United States, there are several types of bankruptcy, but the two most common for individuals and small businesses are Chapter 7 and Chapter 13 bankruptcy.

1. Chapter 7 Bankruptcy: This type of bankruptcy, also known as liquidation bankruptcy, is designed to discharge unsecured debts such as credit card debt, medical bills, and personal loans. To qualify for Chapter 7 bankruptcy in Atlanta, GA, you must meet certain income requirements.
2. Chapter 13 Bankruptcy: Chapter 13 bankruptcy, on the other hand, is a reorganization bankruptcy. It allows individuals to create a manageable repayment plan to catch up on missed payments for secured debts like mortgages or car loans while discharging some unsecured debts. To file for Chapter 13 bankruptcy, you must have a regular source of income to make the proposed repayment plan.

Qualifications for Chapter 7 Bankruptcy:

To determine if you qualify for Chapter 7 bankruptcy in Atlanta, GA, you must pass the means test. The means test compares your household income to the median income for a household of your size in Georgia. If your income is below the median, you are generally eligible for Chapter 7. However, if your income exceeds the median, you may still qualify by demonstrating that you have significant allowable expenses that reduce your disposable income.

It’s important to note that even if you qualify for Chapter 7, certain debts may not be dischargeable, such as student loans, child support, alimony, and some tax debts.

Qualifications for Chapter 13 Bankruptcy:

Chapter 13 bankruptcy does not have strict income limits like Chapter 7, but you must have a reliable source of income to propose a repayment plan. Your plan should outline how you will catch up on secured debts over three to five years while also providing for necessary living expenses.

Your total secured debt cannot exceed a certain limit, and your unsecured debt must be below a specified threshold to qualify for Chapter 13 bankruptcy. These limits are adjusted periodically and vary depending on inflation and other economic factors.

Residency and Filing Requirements:

To file for bankruptcy in Atlanta, GA, you generally need to meet the residency requirements. You must have lived in Georgia for at least 91 of the 180 days immediately preceding your bankruptcy filing.

Additionally, before you can file for bankruptcy, you are required to complete credit counseling from an approved agency. This counseling helps you evaluate your financial situation and explore alternatives to bankruptcy.

Bankruptcy Exemptions:

Georgia has its set of bankruptcy exemptions that determine what property you can keep when you file for bankruptcy. Some common exemptions include your primary residence, personal property, retirement accounts, and certain income. Exemptions allow you to protect essential assets while still getting relief from your debts.

Bankruptcy Attorney:

While it’s possible to file for bankruptcy without an attorney, seeking legal counsel is highly recommended. An experienced bankruptcy attorney in Atlanta, GA, can help you navigate the complex legal process, understand your options, and ensure that your bankruptcy case proceeds smoothly.

Qualifying for bankruptcy in Atlanta, GA, involves meeting specific criteria depending on the type of bankruptcy you wish to pursue, your income, your residency, and the exemptions available to protect your assets. It’s essential to consult with a qualified bankruptcy attorney to assess your eligibility and guide you through the process to achieve the best possible outcome for your financial situation. Bankruptcy laws are complex and can change, so it’s crucial to seek up-to-date legal advice and assistance when considering bankruptcy as a debt relief option.

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Do You Need a Lawyer to File For Bankruptcy in Atlanta, GA?

Filing for bankruptcy in Atlanta, Georgia, is a complex legal process, and while it is possible to file without an attorney, it is highly recommended to have professional legal representation. Here are some key points to consider when deciding whether or not to hire a lawyer to file for bankruptcy in Atlanta, GA.

1. Complexity of Bankruptcy Laws:

Bankruptcy laws in the United States are intricate and can be difficult to navigate for someone without legal expertise. Filing for bankruptcy involves a significant amount of paperwork, adherence to specific rules and deadlines, and understanding of federal and state bankruptcy laws. An attorney who specializes in bankruptcy law can ensure that your case proceeds smoothly and correctly.

2. Assessing Your Eligibility:

Determining whether you qualify for Chapter 7 or Chapter 13 bankruptcy can be challenging. A bankruptcy attorney can evaluate your financial situation, income, and debts to advise you on the most appropriate chapter for your circumstances. They can also help you pass the means test required for Chapter 7, or create a feasible repayment plan for Chapter 13.

3. Protecting Your Assets:

Bankruptcy exemptions in Georgia allow you to keep certain property and assets during bankruptcy. A lawyer can help you maximize these exemptions, protecting your home, personal belongings, and other essential assets while still obtaining debt relief. Without proper legal guidance, you may risk losing valuable property unnecessarily.

4. Handling Creditor Interactions:

Creditors may continue their collection efforts until you file for bankruptcy. A bankruptcy attorney can communicate with your creditors, putting an end to harassing phone calls, letters, or legal actions such as wage garnishments or repossessions. They can also ensure that creditors’ claims are accurate and valid.

5. Avoiding Mistakes and Pitfalls:

Even a small error or omission in your bankruptcy paperwork can lead to delays, dismissals, or even allegations of bankruptcy fraud. An experienced attorney can help you complete the necessary forms accurately, meet deadlines, and avoid common pitfalls that could jeopardize your case.

6. Providing Legal Counsel and Representation:

A bankruptcy attorney serves as your advocate throughout the bankruptcy process. They can represent your interests in court hearings, negotiations with creditors, and meetings with the bankruptcy trustee. Having an attorney by your side can provide peace of mind and ensure that your rights are protected.

7. Handling Adversarial Proceedings:

In some cases, creditors or the bankruptcy trustee may challenge your bankruptcy filing, alleging fraud or abuse. If you face an adversary proceeding, having an attorney is essential. They can build a strong defense, gather evidence, and represent you effectively in court.

8. Long-Term Financial Planning:

A bankruptcy attorney can also provide guidance on rebuilding your credit and finances after bankruptcy. They can help you develop a plan to improve your financial stability and make informed decisions about your financial future.

9. Meeting Legal Requirements:

Bankruptcy courts have specific procedural requirements and forms that must be followed precisely. Failure to meet these requirements can result in your case being dismissed or delayed. A bankruptcy attorney is familiar with these requirements and ensures that you comply with them.

10. Cost vs. Benefit:

While hiring a bankruptcy attorney involves legal fees, the potential cost savings and benefits often outweigh these expenses. They can help you discharge or restructure significant debts, potentially saving you much more money in the long run.

While it is possible to file for bankruptcy without an attorney in Atlanta, GA, doing so carries significant risks and challenges. The complexity of bankruptcy laws, the need to protect your assets, and the potential for mistakes make professional legal representation a wise choice. An experienced bankruptcy attorney can guide you through the process, increase your chances of a successful outcome, and provide invaluable assistance during a challenging time in your financial life. It’s essential to consult with an attorney to assess your specific situation and determine the best course of action for your bankruptcy case.

Cost to File Chapter 7 Bankruptcy in Atlanta, GA

The cost to file Chapter 7 bankruptcy in Atlanta, Georgia, involves several components, including court filing fees, mandatory credit counseling fees, and attorney fees if you choose to hire an attorney.

1. Court Filing Fees:

The filing fee for Chapter 7 bankruptcy in Atlanta, GA, is $425. This fee is payable to the U.S. Bankruptcy Court and covers the administrative costs associated with your bankruptcy case. It’s important to note that court filing fees may change over time, so it’s advisable to check the most current fee schedule on the U.S. Bankruptcy Court’s website or consult with a bankruptcy attorney.

2. Credit Counseling Fees:

Before filing for Chapter 7 bankruptcy, you are required to complete credit counseling from an approved agency. The cost for this counseling typically ranges from $26 to $58, although some agencies may offer reduced fees based on your income. You must complete this counseling within 180 days before filing your bankruptcy petition. Ensure that you choose a reputable agency approved by the U.S. Trustee Program.

3. Attorney Fees:

While you can technically file for Chapter 7 bankruptcy without an attorney (pro se), many individuals opt to hire an experienced bankruptcy attorney to guide them through the process. Attorney fees can vary significantly depending on your location, the complexity of your case, and the attorney’s experience. In Atlanta, GA, attorney fees for a Chapter 7 bankruptcy case can range from $1,180 to $2,720 or more.

Hiring an attorney is highly recommended, as they can provide legal expertise, help you navigate the complexities of bankruptcy law, ensure that your paperwork is accurate and complete, and represent your interests throughout the process. An attorney can also help you understand your options and maximize the benefits of filing for Chapter 7 bankruptcy.

Additional Costs:

In addition to the above costs, there may be other expenses associated with your bankruptcy case. These can include:

• Costs related to obtaining required financial documents and credit reports.
• Fees for reaffirmation agreements (if you choose to keep certain secured debts).
• Costs associated with attending the 341 Meeting of Creditors, such as transportation expenses.

It’s important to note that if you cannot afford to pay the court filing fees all at once, you may request to pay them in installments or even seek a fee waiver if you meet certain income criteria.

The cost to file Chapter 7 bankruptcy in Atlanta, GA, can vary depending on your specific circumstances and whether you choose to hire an attorney. While there are fees associated with the bankruptcy process, many individuals find that the financial relief and debt discharge they receive through Chapter 7 bankruptcy outweigh the costs involved. If you are considering bankruptcy, it’s advisable to consult with a bankruptcy attorney who can provide you with a more accurate estimate of the total costs based on your unique situation and guide you through the process.

Cost to File Chapter 11 Bankruptcy in Atlanta, GA

The cost to file for Chapter 11 bankruptcy in Atlanta, Georgia, can vary significantly depending on the complexity of your case, the size of your business, and other factors. Chapter 11 bankruptcy is typically used by businesses and individuals with substantial assets and debts who need to reorganize their financial affairs. Here’s a breakdown of the costs associated with filing for Chapter 11 bankruptcy:

1. Filing Fee:

The filing fee for a Chapter 11 bankruptcy case in Atlanta, GA, is $1,950. This fee is payable to the U.S. Bankruptcy Court and covers the administrative costs of processing your bankruptcy case. It’s essential to note that court filing fees may change over time, so it’s advisable to check the most current fee schedule on the U.S. Bankruptcy Court’s website or consult with a bankruptcy attorney.

2. U.S. Trustee’s Quarterly Fees:

In Chapter 11 cases, the U.S. Trustee’s office assesses quarterly fees based on the debtor’s disbursements and income. These fees are intended to cover the ongoing administrative costs of the bankruptcy process. The exact amount of these fees can vary widely based on the size and complexity of the case.

3. Attorney Fees:

Filing for Chapter 11 bankruptcy is highly complex and typically requires the expertise of an experienced bankruptcy attorney. Attorney fees for Chapter 11 cases can be substantial and vary depending on the complexity of the case, the size of the business or individual’s assets, and the amount of work required. In many Chapter 11 cases, attorneys charge hourly rates, and the total cost can be significant. It’s crucial to discuss fees and payment arrangements with your attorney before proceeding with a Chapter 11 filing.

4. Additional Costs:

There may be other expenses associated with your Chapter 11 case, including:

• Costs related to financial advisors or consultants hired to assist with the reorganization plan.
• Appraisal fees for valuing assets.
• Court-ordered fees for professionals, such as accountants or appraisers.
• Expenses associated with creditor meetings and hearings.

It’s important to work closely with your bankruptcy attorney to assess the specific costs and requirements of your Chapter 11 case. Your attorney can provide guidance on budgeting for these expenses and help you navigate the complexities of the process.

Repayment Plan:

One unique feature of Chapter 11 bankruptcy is the development of a repayment plan that outlines how you will reorganize your debts and repay creditors over time. The costs of implementing and administering this plan, including making payments to creditors, are also part of the overall financial considerations in a Chapter 11 case.

The cost to file for Chapter 11 bankruptcy in Atlanta, GA, can be substantial and varies based on the specific circumstances of your case. It’s crucial to consult with an experienced bankruptcy attorney who can assess your financial situation, provide an estimate of the potential costs, and guide you through the complex process of Chapter 11 bankruptcy. Proper legal representation is essential to increase your chances of a successful reorganization and debt relief outcome.

Cost to File Chapter 13 Bankruptcy in Atlanta, GA

The cost to file for Chapter 13 bankruptcy in Atlanta, Georgia, consists of several components, including court filing fees, mandatory credit counseling fees, and attorney fees. Here’s a breakdown of these costs:

1. Court Filing Fees:

The filing fee for a Chapter 13 bankruptcy case in Atlanta, GA, is $370. This fee is payable to the U.S. Bankruptcy Court and covers the administrative costs associated with your bankruptcy case. It’s important to note that court filing fees may change over time, so it’s advisable to check the most current fee schedule on the U.S. Bankruptcy Court’s website or consult with a bankruptcy attorney.

2. Credit Counseling Fees:

Before filing for Chapter 13 bankruptcy, you are required to complete credit counseling from an approved agency. The cost for this counseling typically ranges from $28 to $58, although some agencies may offer reduced fees based on your income. You must complete this counseling within 180 days before filing your bankruptcy petition. Ensure that you choose a reputable agency approved by the U.S. Trustee Program.

3. Attorney Fees:

Many individuals who file for Chapter 13 bankruptcy choose to hire an attorney to guide them through the process. Attorney fees for Chapter 13 cases can vary depending on your location, the complexity of your case, and the attorney’s experience. In Atlanta, GA, attorney fees for a Chapter 13 bankruptcy case typically range from $3,400 to $5,500 or more.

Hiring an attorney is highly recommended, as they can provide legal expertise, help you develop a feasible repayment plan, ensure that your paperwork is accurate and complete, and represent your interests throughout the process.

Additional Costs:

In addition to the above costs, there may be other expenses associated with your Chapter 13 bankruptcy case. These can include:

• Costs related to obtaining required financial documents and credit reports.
• Fees for reaffirmation agreements (if you choose to keep certain secured debts).
• Costs associated with attending the 341 Meeting of Creditors, such as transportation expenses.

Repayment Plan:

One of the key features of Chapter 13 bankruptcy is the development of a repayment plan that outlines how you will repay your creditors over three to five years. The cost of implementing and administering this plan, including making regular payments to the bankruptcy trustee, is an essential part of the overall financial considerations in a Chapter 13 case.

It’s important to work closely with your bankruptcy attorney to assess the specific costs and requirements of your Chapter 13 case. Your attorney can provide guidance on budgeting for these expenses, creating a repayment plan, and helping you navigate the complexities of the Chapter 13 bankruptcy process.

Reliable Bankruptcy Attorneys in Atlanta, GA

Below is a list of reputable bankruptcy attorneys in Atlanta, GA. They can help you with both personal and business bankruptcy information.

King & King
215 Pryor St SW, Atlanta, GA 30303, United States

The Kent Law Firm
3355 Lenox Rd NE #600, Atlanta, GA 30326, United States

Saedi Law Group, LLC
3006 Clairmont Rd, Atlanta, GA 30345, United States

Jamie L. Gingold PC
195 14th St NE UNIT 1604, Atlanta, GA 30309, United States

Jones & Walden, LLC
699 Piedmont Ave NE, Atlanta, GA 30308, United States

Atlanta, GA Zip Codes We Proudly Serve:

30032, 30303, 30305, 30306, 30307, 30308, 30309, 30310, 30311, 30312, 30313, 30314, 30315, 30316, 30317, 30318, 30319, 30324, 30326, 30327, 30331

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