When you’re facing difficult financial issues, a Dalton bankruptcy attorney can help you navigate your legal options. If you’re dealing with unmanageable debt and other financial difficulties, you may be unsure of what to do. The process of debt management and deciding if bankruptcy is right for you can be complicated. You need an experienced lawyer on your side to help you deal with the process.
The Dalton bankruptcy attorney at the Law Office of Jeffrey B. Kelly is knowledgeable about debt management. We will help you decide if bankruptcy is the best solution for you. Call us today at (706) 295-0030 for a free and confidential consultation.
There are two types of bankruptcy typically used for personal financial situations – Chapter 7 and Chapter 13. It can be difficult to determine if you qualify for these types of bankruptcy. We can both review your situation and help you understand which is best for you.
If you are looking for a fresh start, Chapter 7 bankruptcy might be right for you. This type of bankruptcy is often called “liquidation.” It involves getting rid of all non-exempt property to pay creditors and then eliminating all other debts. You often get to start a new path debt free, with only a few debts left to your name. This can make payments more manageable as well as allow you to focus on moving forward quickly.
Debt you may be able to quickly eliminate includes the following:
In order to file Chapter 7 bankruptcy, you must pass an income qualification test called a “means test.” This determines whether your income is low enough to file liquidation bankruptcy. A Dalton bankruptcy attorney can analyze your income, expenses, and debts and see if you qualify. You will know if you qualify before you file for Chapter 7 bankruptcy so that you’re prepared before a judge sees your case.
Once your Chapter 7 is approved, you must meet with your creditors. Although you may be required to attend some hearings, your Dalton bankruptcy attorney can attend others without you. By seeking the help of an experienced legal advisor, you can continue with your life as your lawyer handles your case for you.
If you wish to keep most of your property, you may choose to restructure your debt through a Chapter 13 bankruptcy. Similarly, if you don’t qualify for a Chapter 7 bankruptcy through the means test, we can help you file Chapter 13. A Dalton bankruptcy attorney can help you weigh the pros and cons of these types of bankruptcy to determine which is right for you.
Chapter 13 bankruptcy allows you to reorganize your debts into a payment plan that will last between three and five years. This will greatly cut down on your payments and may allow you to avoid significant interest payments.
Once your Chapter 13 bankruptcy is approved, you will work with a trustee who will manage your repayment. Once your repayment plan is complete, all unsecured debt that is left may be eliminated. This allows you to make more manageable payments while retaining your property.
Before consulting with a Dalton bankruptcy attorney, you should gather information about your finances and your debts. This will allow us to evaluate your situation and help you determine if Chapter 7 or Chapter 13 is right for you. If you do not have all of the necessary information, we can help you gather it before you file for bankruptcy.
Helpful documents to bring to your first appointment include the following:
Before your bankruptcy is approved, you will have to take a credit counseling course, or bankruptcy course, offered by an agency approved by the United States Trustee’s office. These courses are often available online and can be taken in a few hours. A Dalton bankruptcy attorney can help you find an approved course. You will receive a certificate of completion when you finish the course. This must be presented to the court when you file for bankruptcy.
After filing a Chapter 7 or Chapter 13, several hearings will be set in your case. The first hearing you must attend will be the Meeting of the Creditors. Although creditors rarely appear, you must attend to verify your financial documents and other related information. The Meeting of the Creditors usually lasts five to 10 minutes. Other hearings can be attended by your Dalton bankruptcy attorney. You rarely have to attend other hearings.
When you’re facing difficult financial situations, it can be hard to decide what path is best for you. We can help you evaluate your situation and make the best legal decision in your case. Call a Dalton bankruptcy attorney at Law Office of Jeffrey B. Kelly today at (706) 295-0030.
DISCLAIMER : The information contained on this page is for information only. It is not intended to be legal advice, nor should you make legal decisions based on this information. Please consult with me to see how the law applies to your particular situation. We are a debt relief agency. We help people obtain relief from their creditors by helping people file bankruptcy.