Filing Bankruptcy in Georgia
What you need to know and how we can help
Procedures for filing a petition in the bankruptcy courts
The dedicated lawyers at Gentry, Smith, Dettmering, Morgan, Schnatmeier & Collins, LLP have more than 80 years of combined experience in bankruptcy law. During our extensive practice, we have witnessed many changes in the U.S. Bankruptcy Codes, the courts’ rules, and the general atmosphere and attitudes about relieving consumers of the stresses of overwhelming debts.
Review our timeline for filing for bankruptcy in Georgia and then contact our Marietta attorneys to discuss your case in detail.
Analyzing your case and determining eligibility
Each type of bankruptcy has its own rules and eligibility requirements. We first analyze crucial information about your income, assets, expenses and debts and then determine whether you qualify for a Chapter 7 or a Chapter 13 bankruptcy.
Filing your bankruptcy petition
The bankruptcy petition is an extensive legal document that contains detailed data about your financial situation, property and creditors. Our attorneys ensure that the information is accurate and includes the advantageous deductions and exemptions to which you are entitled. We also advise you about completing other prerequisites — such as the requirement for Chapter 7 petitioners to participate in credit counseling to file bankruptcy in Georgia.
Attending the 341 hearing for a meeting of the creditors
Upon receiving your petition, the court schedules a meeting of the creditors — referred to as a 341 hearing because of the Code that governs it. The trustee overseeing the hearing may ask you a series of questions about the information you included in your bankruptcy petition. We attend the hearing with you to protect your rights and put your mind at ease.
Discharging debts in Chapter 7 bankruptcy
At this point, procedures diverge depending upon which type of bankruptcy you filed. Chapter 7 petitioners are typically required to participate in a debtor education session. In addition, the court may ask that certain assets be liquidated to pay creditors — although we can typically arrange a buyback allowance in these circumstances to preserve your property. If no creditors challenge the discharge of the debt through adversary proceedings, your debts are discharged within the statutory period.
Completing a payment plan in Chapter 13 bankruptcy
For Chapter 13 petitioners, we propose a payment schedule to the court that alters the terms and amounts of your debts and allows you to pay creditors in installments over a specified time period. After your successful completion of the plan, the U.S. Bankruptcy Code prohibits creditors from trying to collect additional debts that were included in the original filing.
Learn more about the timeline and procedures for filing bankruptcy from our experienced Marietta, Georgia lawyers
Learn more about bankruptcy procedures and timelines. Call Gentry, Smith, Dettmering, Morgan, Schnatmeier & Collins, LLP at 770.771.5097 or contact us online.