Rome Bankruptcy attorney





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Rome Bankruptcy Attorney

Rome bankruptcy attorneyIf you are considering filing bankruptcy, a Rome bankruptcy attorney can help. Bankruptcy is an efficient solution to many debt problems. At the Law Office of Jeffrey B. Kelly, we can assess your situation and help you through the bankruptcy process. Call today: (678) 506-2609.

What Type of Bankruptcy Best Suits My Needs?

There are two types of individual bankruptcy you can file to deal with unmanageable debt: Chapter 7 and Chapter 13. A Rome bankruptcy attorney can help you with:

Chapter 7 Bankruptcy

This is often called a “fresh start” bankruptcy. It allows you to get rid of your debt fast. You are thus able to move on with your life, without having to repay creditors right away.

In order to qualify for Chapter 7 bankruptcy, you must pass something called the means test. The means test is an income qualification test that compares your household income and size against the median for your state. If you don’t initially qualify for Chapter 7, but have a significant change in income or expenses, you may be able to qualify at a later date. When you file Chapter 7 you will have the ability to keep a certain amount of property up to a certain value. Protected property is also referred to as exempt property. Any property that is not exempt can be liquidated by your bankruptcy case trustee and sold to pay your creditors. In reality most people get to keep most, if not all their property.

Chapter 13 Bankruptcy

Chapter 13 bankruptcy allows you to restructure your debt into a repayment plan in which you pay back your debt over the course of three to five years. This type of bankruptcy is a good option for people who do not qualify for a Chapter 7. Other situations in which Chapter 13 might be a good choice are:

  • When there is a large amount of tax debt that cannot be discharged
  • If you are underwater on a car loan and want to “cram down” the loan
  • You are facing possible foreclosure and will have the ability to make up the arrears
  • If you have a second mortgage that is underwater
  • You stand to lose nonexempt (i.e. not protected) property that you want to keep

Deciding which bankruptcy to file involves a detailed review of your ability to qualify for Chapter 7 through the means test. It also involves considering whether or not you are able to repay your debts in a Chapter 13. A Rome bankruptcy attorney can help you weigh your options.

The Bankruptcy Filing Process

It’s best to have the help of a Rome bankruptcy attorney when filing bankruptcy, as the process can be quite complex. We can help you with the following:

Gather Information

You need to gather both personal and financial information before filing, such as:

  • Credit reports
  • Pay stubs
  • Income tax returns
  • Monthly bills
  • Bank statements
  • Housing contracts
  • Life insurance policies
  • Car titles
  • Collections notices
  • Etc.

We can help you gather the necessary documents, as well as review them with you to see whether bankruptcy is a good option for your situation.

Complete a Bankruptcy Course

Before filing, you will have to take a counseling course online. This course is often referred to as the Pre-Counseling class, and takes about 2 hours. Once you complete the class online, you will receive a certificate that will be filed with your bankruptcy legal filing.

Prepare Legal Documents

After your bankruptcy attorney has reviewed your papers with you, it is time to prepare the legal papers to file your case. Federal bankruptcy courts require legal documents that outline your income (from all sources), debts, required monthly household expenses, list of your assets with value, tax information and other important information about you personally and your financial situation. A Rome bankruptcy attorney will help you draft and file documents with the court.

Attend the Meeting of the Creditors

After you file bankruptcy, you must attend a meeting of creditors. A local trustee appointed to your case will run this meeting and it is rare for creditors to actually show up. At the meeting of creditors your identity will be verified, and you will also be asked questions about your bankruptcy papers as it relates to your assets, debts and other financial matters. The meeting of creditors is really focused on documenting and verifying the specifics in your court filing. For most people the actual creditor meeting lasts only 5 to 10 minutes.

Appear at Other Hearings

Sometimes, bankruptcy requires additional hearings related to your case. These hearings are more common in Chapter 13 than Chapter 7. However, generally, you are not required to attend the additional hearings and your Rome bankruptcy attorney can appear for you. He will also discuss your situation with creditors for you.

Finalize Bankruptcy and Credit Counseling

If you file a Chapter 7, the bankruptcy will finalize within about four to six months. Prior to receiving your discharge, but after your case is filed, you must ­­ complete another online course called the Debtor Education Course. You will receive a certificate and this must be filed in your name, or you will not receive your discharge. If you file a Chapter 13, the bankruptcy will last for the length of your repayment plan.

Rebuilding Credit After Bankruptcy

There is life after bankruptcy! However, you will need to work at at building your credit after bankruptcy. This might include using a secured credit card, making sure the bankruptcy is properly recorded with your creditors and working to remove creditor judgments from you report or records. Many creditor judgements can be removed from your records after bankruptcy. But, this process is not automatic. There is a court process to do so. Some types of judgements cannot be removed; for example, child support and tax liens.

Contact a Rome Bankruptcy Attorney Today

When debts begin to mount, you may feel overwhelmed and anxious about what to do. A Rome bankruptcy attorney can help. Call us today at (678) 506-2609 to learn more.

Schedule An Appointment

 Are you ready for a new life?

My main office is located on top of Clocktower Hill in the historic district of Rome. We are catacorner from the Clocktower. If you are driving from Turner McCall down Broad Street, take a left onto East Fifth Avenue. We are on top of the hill on your left.

Rome, GA Location

Law Office of Jeffrey Kelly, P.C., Rome Bankruptcy Lawyer
107 E Fifth Avenue,
Rome, GA 30161
(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.

 

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