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The biggest difference between Chapter 7 and Chapter 13 is that Chapter 7 focuses on discharging (getting rid of) unsecured debt such as credit cards, personal loans and medical bills while Chapter 13 allows you to catch up on secured debts like your home or your car while also discharging unsecured debt.
If your total monthly income over the course of the next 60 months is less than $7,475 then you pass the means test and you may file a Chapter 7 bankruptcy. If it is over $12,475 then you fail the means test and don't have the option of filing Chapter 7. Georgia Bankruptcy Means Test ? Chapter 7? georgiabankruptcy.com ? means-test georgiabankruptcy.com ? means-test
The average bankruptcy packet ranges from 40 to 50 pages in length.
How can I file for Chapter 13? Within 180 days before filing for bankruptcy, you must participate in credit counseling. ... File a petition with the bankruptcy court where you live. ... Unless the court grants an extension, you must file a repayment plan with your petition or within 14 days after the petition is filed.
The U.S. bankruptcy code doesn't specify a minimum dollar amount someone must owe to make them eligible for a qualified filing. In short, any debt is enough debt. More important than the size of your debt is the size of your income. How much money you earn affects whether you qualify for Chapter 7. How Much Debt Do You Have To Be In to File Chapter 7 Bankruptcy? debt.org ? bankruptcy ? how-much-do-you-... debt.org ? bankruptcy ? how-much-do-you-...
Legally, you're allowed to file for bankruptcy without a lawyer. The term for this is ?pro se,? and many of those who file for bankruptcy do it this way. But it's not a path we recommend. Do You Need a Lawyer to File for Bankruptcy in Georgia? speightslaw.com ? do-you-need-a-lawyer-to-file-f... speightslaw.com ? do-you-need-a-lawyer-to-file-f...
A Chapter 7 bankruptcy in Georgia typically costs $1,500 plus the filing fee of $335. Sometimes the cost may be higher depending on the complexity of the case or sometimes it could be lower depending if it's a very straightforward and simple case.
Again, there's no minimum or maximum amount of unsecured debt required to file Chapter 7 bankruptcy. In fact, your amount of debt doesn't affect your eligibility at all. You can file as long as you pass the means test. How Much Debt Do I Need To File for Chapter 7 Bankruptcy? - Upsolve upsolve.org ? learn ? how-much-debt-do-i-need-t... upsolve.org ? learn ? how-much-debt-do-i-need-t...