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Athens, GA farm bankruptcy attorney

Chapter 11 allows the debtor to run its business through a plan of reorganization, which should fulfill certain statutory requirements. By creating chapter 11, the Congress provided the debtor a chance to restructure its finances so that it may continue to operate, provide employment, pay its creditors, and produce a return for its stockholders. Since chapter 11 deals with an ongoing business, the most likely individuals to have knowledge and details of the business will be the present managers who often continue operations during the chapter 11 proceeding. A major rationale behind business reorganizations is that the value of an ongoing is much more than it would be if its assets were liquidated. Chapter 12 is a U.S. bankruptcy chapter especially for family farms or fisheries which provides the farm or fishery owner the ability to reorganize his or her finances and debts while still keeping the farm or fishery. The farm or fishery owner should co-ordinate with a bankruptcy trustee and creditors to fix a payment program that will satisfy his or her owner obligations. This Chapter 12 proceeding in Athens, GA can be availed by individually run family farms and fisheries and also those owned by a corporation or partnership. Chapter 12 was enacted in 1986 exclusively for farms and fisheries to make the bankruptcy process easier for these types of businesses. Before Chapter 12, farmers would have to either file for protection under Chapter 11, which was very costly and is mainly for big corporations, or Chapter 13, which is mainly for those with comparatively small outstanding debts (often not the case for farms and fisheries). Farm debtors considering bankruptcy should contact a Athens, GA farm bankruptcy attorney to know about the options.

———————Athens Georgia bankruptcy lawyer | Bankruptcy attorneys in Athens GA and Athens-Clarke County – Filing for Chapter 7 Bankruptcy and Chapter 13 Bankruptcy

Augusta, GA Chapter 13 Bankruptcy attorney

Augusta, GA Chapter 13 Bankruptcy attorney

The Chapter 13 Bankruptcy has many added benefits over a Chapter 7 Bankruptcy. Unlike Chapter 7 Bankruptcy, in the Chapter 13 Bankruptcy, an individual can at least save his home from foreclosure. All proceedings will come to halt after he files for Chapter 13 Bankruptcy. He will get a period of 3-5 years to pay off the creditors. The Chapter 13 Bankruptcy permits the individual to reallocate secured debts. It can over a time period, lower the payments that he should make. Finally a debtor will not have any connection or contact with his or her creditors when he or she has filed Chapter 13 Bankruptcy.
A Augusta, GA Chapter 13 Bankruptcy can assist you file for Chapter 13 Bankruptcy. Any individual, either self employed or employed with any organization can file a chapter 13 bankruptcy in Augusta, GA and get protection under it. The only condition is that his unsecured debts should be less than $336,900 and secured part of the debts below $ 1,010,650. No corporation can seek help or file chapter 13. A person cannot file for chapter 13 if his bankruptcy petition was dismissed 180 days before the filing.

———————We are Augusta GA bankruptcy lawyer | Georgia attorney that assist their clients in filing for Chapter 7 Bankruptcy and Chapter 13 Bankruptcy in Augusta GA.

Why hire a Athens, GA Bankruptcy attorney

Why hire a Athens, GA Bankruptcy attorney

Before electing to file bankruptcy yourself, ask a few questions.
1. Do you understand the means test?
2. How long does it take to discharge a bankruptcy?
3. Do you understand the Summary of Schedules?
4. Do you understand the Schedule D, E or F?

If you [are unable answer these questions without seeking help from the Internet, you are probably not prepared to file bankruptcy yourself. These Schedules are simply a minute part of the filing process. Bankruptcy lawyers in Athens, GA are professionals who understand how to function with the legal system to make the process of discharging debt as quick and painless as possible. There are few people like a bankruptcy lawyer who are knowledgeable enough about law to handle an immediate or emergency request for filing from the court and one mistake can cause debts not being discharged or the bankruptcy being drawn out over months and months.

Eliminating that fear when the phone rings can be a quick and easy process. Debt that is riding over your head can be discharged and the cost of a law firm to handle the proceeding is nothing compared to the effect on your personal life if bankruptcy proceedings go wrong. While you can file bankruptcy yourself, never risk the potential negative results to save a few dollars.

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Athens Georgia bankruptcy lawyer | Bankruptcy attorneys in Athens GA and Athens-Clarke County – Filing for Chapter 7 Bankruptcy and Chapter 13 Bankruptcy

Liberty County Georgia Chapter 11

Liberty County Georgia Chapter 11

In Athens, GA Chapter 11 is a bankruptcy category available to individuals, sole proprietors and corporations who want to reorganize and repay debts. Chapter 11 may also be available to large farming organizations that do not qualify for Chapter 12; a bankruptcy chapter specifically for family farmers and fishermen. Chapter 11 requires debtors to carry a minimum debt load of $336,900 of unsecured debts and a maximum of $1,010,650 in secured debts. If you filing for Chapter 11 bankruptcy, you must submit a proposed repayment plan with creditors during the 341 creditor meeting. This meeting generally takes place within 30 to 90 days after submission of the bankruptcy petition. Chapter 11 debt reorganization plans are typically broken down by creditor classification. Debts which are secured by real estate are often repaid over an extended time period. Unsecured loans are reorganized depending on the expected life cycle of the collateral. For example, loans for office equipment may be repaid over five years, whereas debts for machinery can be repaid over ten years. Bankruptcy repayment plans are confirmed through the court using a three-step process. First, you should to submit a repayment plan. Secondly, creditors must accept that plan. Third, the plan is presented to the judge at a confirmation hearing. The judge reviews the repayment proposal to make sure you have the financial capacity to follow through on the plan. Upon confirmation of Chapter 11, all debts with the exception of non-dischargeable debts will be discharged.

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Athens Georgia bankruptcy lawyer | Bankruptcy attorneys in Athens GA and Athens-Clarke County – Filing for Chapter 7 Bankruptcy and Chapter 13 Bankruptcy

Augusta, GA Chapter 7 attorney

Augusta, GA Chapter 7 attorney

Chapter 7 deals with liquidating the filer’s assets rather than repayment. Earlier debtors could determine whether they wanted Chapter 7 or 13. But now, when their income is high, they may not have a choice and will have to file under Chapter 13. In order to file Chapter 7, a filer should prove that his disposable income falls below a certain low sum of money. Consult with an experienced Augusta, GA Chapter 7 attorney to know if you qualify for Chapter 7. For Chapter 7, assets are sold and the proceeds are used to repay the debtor’s creditors. Chapter 13 involves repayment. All income goes into paying off creditors. When available income is greater than that of the median in the State of Georgia, the debtor’s permitted expenses will be decided by the IRS. The amount should come out of the filer’s income during the six-month period preceding the filing. A chapter 11 debtor has a one-time absolute right to convert the chapter 11 proceeding to a case under chapter 7 except if (1) the debtor is not a debtor in possession, (2) the case initially was started as an involuntary case under chapter 11, or (3) the case was converted to a case under chapter 11 other than at the debtor’s request. A debtor in a chapter 11 proceeding does not have an absolute right to have the case dismissed upon request. There are major exceptions to the conversion process in a chapter 11 proceeding. Except when the debtor requests the conversion, section 1112(c) of the United States Bankruptcy Code does not permit the court to convert a case involving a farmer or charitable institution to a liquidation proceeding under chapter 7.

———————We are Augusta GA bankruptcy lawyer | Georgia attorney that assist their clients in filing for Chapter 7 Bankruptcy and Chapter 13 Bankruptcy in Augusta GA.

Augusta, GA farm bankruptcy attorney

Augusta, GA farm bankruptcy attorney

Chapter 11 allows the debtor to operate its business by means of a plan of reorganization, which should fulfill certain legal requirements. By legislating chapter 11, the Congress provided the debtor an opportunity to restructure its finances so that it can continue to operate, provide its employees with jobs, pay its creditors, and produce a return for its stockholders. As chapter 11 envisions an ongoing business, the most likely persons who have knowledge and details of the operation will be the existing managers who generally continue operations during the chapter 11 case. The main rationale behind business reorganizations is that the value of an operating is greater than it would be if its assets were sold. Chapter 12 is a U.S. bankruptcy proceeding especially for family farms or fisheries that provides the farm or fishery owner the ability to reorganize his or her finances and debts while still keeping the farm or fishery. The farm or fishery owner will work with the bankruptcy trustee and creditors to fix a payment program that will satisfy his or her owner obligations. This Chapter 12 proceeding in Augusta, GA is available for individually run family farms and fisheries and also those owned by a corporation or partnership. Chapter 12 was enacted in 1986 exclusively for farms and fisheries to make the bankruptcy process easier for these types of businesses. Before Chapter 12, farmers had to either file for protection under Chapter 11, which was very expensive and is essentially for large companies, or Chapter 13, which is essentially for those with relatively small outstanding debts (generally not the case for farms and fisheries). Farm debtors looking to file for bankruptcy should contact a Augusta, GA farm bankruptcy attorney to know about the options.

———————We are Augusta GA bankruptcy lawyer | Georgia attorney that assist their clients in filing for Chapter 7 Bankruptcy and Chapter 13 Bankruptcy in Augusta GA.

Athens, GA Chapter 13 Discharge

Athens, GA Chapter 13 Discharge

Chapter 13 Bankruptcy filings in Athens, GA prevents foreclosure actions from occurring. It may permit you to breathe easier saving you from being physical removed from the home. Chapter 13 Bankruptcy filings in Athens, GA do not result in the liquidation of assets. Chapter 7 Bankruptcy needs liquidation of your assets. Therefore, perhaps Chapter 13 Bankruptcy is better suited to meet your needs than a Chapter 7 bankruptcy. Another benefit of filing Chapter 13 Bankruptcy is that the collection efforts must stop during the bankruptcy process. Collectors are not allowed to contact, harass and/or disrupt your business and personal life during this time. It is a relief not having to deal with creditors, banks, and businesses who are contacting you nonstop for the sake of collecting. It is a huge relief for people in debt is to eliminate this one factor. It makes a huge difference permitting people to think better. Bankruptcy will enable you to begin afresh in life by wiping out most of the debts. When a debt is discharged in bankruptcy, the creditor cannot enforce the debt against the debtor nor initiate any collection activity. You need not pay that debt. But some debts have to be paid and does not get discharged by bankruptcy. These include: taxes; spousal and child support; debts arising out of willful misconduct and or malicious misconduct by the debtor; liability for injury or death from driving while intoxicated; non-dischargeable debts from a prior bankruptcy; student loans; criminal fines and penalties and forfeitures. Bankruptcy discharge does not discharge you from any debt incurred for money, property, services, or an extension, renewal, or refinancing of credit, to the extent obtained by false pretenses, a false representation, or actual fraud, other than a statement respecting the debtor’s or an insider’s financial condition.

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Athens Georgia bankruptcy lawyer | Bankruptcy attorneys in Athens GA and Athens-Clarke County – Filing for Chapter 7 Bankruptcy and Chapter 13 Bankruptcy

Why hire a Augusta, GA Bankruptcy lawyer

Why hire a Augusta, GA Bankruptcy lawyer

Before choosing to file bankruptcy yourself, ask a few questions.
1. Do you understand the means test?
2. How long does it take to discharge a bankruptcy?
3. What is a Summary of Schedules?
4. Do you know the Schedule D, E or F?

If you are unable answer these questions without seeking information online, you are probably not prepared to file bankruptcy yourself. These Schedules are just a minute part of the filing process. Bankruptcy lawyers in Augusta, GA are professionals who understand how to work with the court to make the discharge as quick and painless as possible. There are few people like a bankruptcy lawyer who are knowledgeable enough about law to handle an immediate or emergency request for filing from the court and a single mirror can lead to debts not being discharged or the bankruptcy being drawn out over months and months.

Getting rid of that fear when the phone rings can be a quick and easy process. Debt which is riding over your head can be discharged and the price of a lawyer to handle the filing is nothing compared to the effect on your personal life if bankruptcy proceedings go wrong. While you can file bankruptcy yourself, don’t risk the potential negative consequences to save a few dollars.

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We are Augusta GA bankruptcy lawyer | Georgia attorney that assist their clients in filing for Chapter 7 Bankruptcy and Chapter 13 Bankruptcy in Augusta GA.

Athens, GA Chapter 7 Bankruptcy for individuals and business Individuals

Athens, GA Chapter 7 Bankruptcy for individuals and business Individuals

A person can file for bankruptcy under Chapter 7 in Athens, GA and can have certain debts discharged if they meet the necessary criteria. These necessary criteria were formulated by the BACCP Act and now has both a means test and the necessity to receive credit counseling.

Prior to being allowed to file a Chapter 7 bankruptcy an individual will need to demonstrate that their disposable income is below a certain limit which will differ slightly from state to state depending on the average income of the state.
The individual is also required to have received credit counseling from an accredited organization at some stage in the 180 days preceeding their bankruptcy petition.

In Chapter 7 bankruptcy certain assets may be kept by the individual while others will be sold off to pay back some of the debt.

There are also some debts which cannot be discharged in Chapter 7 bankruptcy. These are debts like child support, property taxes, income taxes incurred in the past three years, student loans and fines.

Business
A business can file for bankruptcy under Chapter 7 in Athens, GA if they are heavily in debt and cannot service the debt with the present income of the business.
In a Chapter 7 bankruptcy typically there will be a cessation of operations. The trustee will take stock of the assets of the business and sell these off in an attempt to pay off its debts using the proceeds from the sale of the assets. If the business is very large, individual units of the business may be sold to pay off the creditors. Under a Chapter 7 bankruptcy for a business a debt is not discharged instead the business is dissolved.

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Athens Georgia bankruptcy lawyer | Bankruptcy attorneys in Athens GA and Athens-Clarke County – Filing for Chapter 7 Bankruptcy and Chapter 13 Bankruptcy

Augusta, GA Chapter 11

Augusta, GA Chapter 11

In Augusta, GA Chapter 11 is a bankruptcy chapter availed by to individuals, sole proprietors and corporations who want to reorganize and repay debts. Chapter 11 can also be available to large farming organizations that do not qualify for Chapter 12; a bankruptcy chapter exclusively for family farmers and fishermen. Chapter 11 requires debtors to carry a minimum debt load of $336,900 of unsecured debts and a maximum of $1,010,650 in secured debts. Debtors filing for Chapter 11 bankruptcy should provide a proposed repayment plan with creditors during the 341 creditor meeting. This meeting typically takes place within 30 to 90 days after submission of the bankruptcy petition. Chapter 11 debt reorganization plans are generally broken down by creditor classification. Loans that are secured by real estate are often repaid over an extended period of time. Unsecured loans are reorganized based on the anticipated life cycle of the collateral. For instance, loans for office equipment can be repaid over five years, while loans for machinery would be repaid over ten years. The court confirms the bankruptcy repayment plans with the help of a three-step process. First, you must to develop a repayment plan. Secondly, creditors should accept that plan. Third, the plan is presented to the judge at a confirmation hearing. The judge reviews the repayment proposal to ensure you possess the financial means to work through on your plan. On confirmation of Chapter 11, all debts except non-dischargeable debts will be discharged.

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We are Augusta GA bankruptcy lawyer | Georgia attorney that assist their clients in filing for Chapter 7 Bankruptcy and Chapter 13 Bankruptcy in Augusta GA.