Douglas & Cobb County Bankruptcy Attorney

Bankruptcy Eligibility

The process of bankruptcy is a court-based method of providing debt relief to those who qualify. Chapter 7 bankruptcy allows you to sell specific non-exempt assets to pay off your debts and any monies owed after liquidation will be discharged by the court. In Chapter 13 , you keep your assets but are required to pay all or a portion of your debts, utilizing an approved repayment plan. When debt remains after the time allowed in your repayment plan (3-5 years), it will relieved by court order.

Unfortunately, many bankruptcy mills will charge you a fee and file your petition without finding out if bankruptcy is right for you and what form will best suit your needs. A well-versed Douglas & Cobb County bankruptcy lawyer from The Faucette Law Firm, LLC, knows how to correctly establish your eligibility and what form of bankruptcy will truly assist in achieving your financial goals.

Use of the Means Test

The "means test" was developed to see if a person is factually unable to pay their debts and is thus eligible for Chapter 7 bankruptcy. It is designed to restrict this type of bankruptcy to only those who do not have the income to file for Chapter 13.

It starts by determining if your income is less than the median for a household of your size in Georgia. If it is, you passed the test and can meet with one of our attorneys to learn the benefits of Chapter 7 and how it can be swiftly filed. When you income is higher than the median, the test gets more complex and we use it to find out if you can still qualify for Chapter 7.

Our attorneys have assisted thousands of good people with their bankruptcy needs and either form of bankruptcy can be used to obtain a fresh start. In addition, once we file your petition for Chapter 7 or 13, home foreclosure, vehicle repossession, wage garnishment and creditor harassment will be automatically halted by court order.

Part of our personalized service is ensuring that you are qualified for the type of bankruptcy that needs to be filed, before taking an action that may waste your money. You have access to us 24 hours a day, 7 days a week and we proudly serve residents of Douglasville and Fulton and Cobb Counties.

Contact a Douglas & Cobb County bankruptcy attorney to learn how to qualify for Chapter 7 or 13 bankruptcy.