Chapter 7 Bankruptcy – ZERO DOWN
What is Chapter 7 bankruptcy?
Chapter 7 Bankruptcy is often called the “fresh start” provision of the bankruptcy code because it allows you to wipe out all of your debt. In a Chapter 7, we show the Court that you are unable, based upon your budget, to pay the debt that currently hangs over you.
Our ZERO down to file Chapter 7 Policy
We are by far the largest filer of bankruptcies in Georgia. This is how we offer to advance our clients the filing fee of $335.00, the mandatory credit counseling fees, your credit report from all 3 bureaus and obtain your tax returns. These fees will be blended into a payment program with your attorney fees.
What’s the catch? ( How can I qualify for this $O down option)
There are only 3 simple qualifications,
1- You must have the desire to become debt free
2- You must have an established bank account. This is our method of receiving installment payments via auto debit.
3- The ability to re-pay. You must have income sufficient to make the monthly payments we both agree on.
What if for some reason I can’t qualify for the $O down option?
Do not worry, we have additional options to help get you the debt relief you deserve. We will figure out a plan that works for you.
Keep in mind we never allow our fees to get in the way of providing you the debt relief you need. We will always work something out.
Clark & Washington charges a base fee of $1,400.00 for attorneys fees in a routine Chapter 7 case. However this fee is just a base. Our fees will be adjusted by your attorney to meet your needs. And remember you pay no upfront money, Nada, Zip to file Chapter 7 bankruptcy.
Consideration of the fee is based on a number of factors such as:
- the total amount of debt
- the type of debt (secured debt, judgments, credit cards, taxes, student loans etc.)
- the amount and type of assets
- whether you owe either priority or stale taxes
- the number of pieces of real estate owned
Call us at 770-488-9302 or Schedule Online for your free initial consultation.
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Wipe out credit card debt through Chapter 7 bankruptcy
At Clark & Washington, we understand how easy it is to fall behind on credit card payments, and we know how much relief our clients feel when their credit card problems are resolved through bankruptcy.
When credit cards have high interest rates, even reasonable spending can quickly lead to large balances. It’s not unusual for people who are struggling with other bills, such as a mortgage and car loans, to devote their paychecks to those bills and then rely on credit cards to buy food, clothes and other necessities — and then find themselves overburdened by credit card debt on top of their other obligations. Chapter 7 bankruptcy can provide instant relief from credit card debts, giving you a fresh start after your case is completed.
What property is exempt from sale under Chapter 7 relief?
Under Georgia law, some property and income is exempt from being sold off in Chapter 7 bankruptcy proceedings. Those exceptions include:
- The homestead, up to $21,500 in value
- Income from child support or alimony
- Workers compensation
- Veterans benefits
- IRAs and ERISA-qualified benefits
- Insurance proceeds
- Motor vehicles, up to $3,500 in value
- Unemployment compensation, Social Security benefits or public assistance
- Aid to disabled persons
- Tools necessary for a particular trade
- Up to $600 of property chosen by the individual
The homestead exception can be critical to someone facing the prospect of foreclosure and eviction. There are also other exemptions under Chapter 7, but you should know that filing for bankruptcy has a long-term effect on your credit rating, for up to ten years. If you’d like more information on whether filing for bankruptcy is right for you, speak with one of our knowledgeable Atlanta, Georgia bankruptcy lawyers today.
Contact our office for a free initial consultation about Chapter 7 bankruptcy
Anyone who tries to file for Chapter 7 alone risks omitting critical property exemptions or having their petition rejected altogether. You can avoid this by having an experienced bankruptcy lawyer guide you through the process. Clark & Washington, Attorneys at Law offers 12 metro Atlanta locations. Call us at 770-488-9302 or Schedule Online for your free initial consultation.