Bankruptcy is a legal procedure for dealing with the debt problems of individuals and businesses and discharges financial obligations. This procedure is covered under Title 11 of the United States Code (the Bankruptcy Code). Chapter 7 is the most basic form of liquidation for both private citizens and businesses. It is often referred to as straight bankruptcy because it is the simplest, the quickest and because the laws don’t vary much from state to state. Chapter 9 is probably the least popular and is only utilized in cases of municipal bankruptcy. Chapter 11 is commonly used by businesses that have gone into debt and need the help of the government. The process is also known as corporate bankruptcy and it allows companies to continue to operate their business while they repay their debts and improve their credit. Chapter 12 includes debt solutions for farmers and fishermen.
To be eligible for Chapter 12 bankruptcy, at least 80% of your debts must arise from the operation of a family farm. Chapter 13 is specifically designed for people with a regular source of income who are able to repay their debts but simply need more time. Chapter 15 deals with foreign debtors.
We are based in Athens, GA (Georgia). We can help you file for bankruptcy if you are located in Athens, Watkinsville, Carnesville, Elberton, Homer, Jefferson, Danielsville, Lexington, Hartwell, Winder, and Clarke County, Oconee County, Elbert County, Franklin County, Banks County, Jackson County, Madison County, Hart County, Barrow County and Oglethorpe County, Piedmont Judicial Circuit, Northern Judicial Circuit and Athens-Clarke County.
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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
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