Seeking financial solutions to overwhelming debt can begin with sound advice and direction from our skilled Albany Chapter 7 bankruptcy attorney at the law office of The Law Office of Robert J. Pinnero P.C., in Albany, Georgia. for 25 years, our Dougherty County Albany Chapter 7 bankruptcy lawyer has designed unique cases that allow our clients to have their eligible debt fully eliminated and discharged in the proper courts.
We use the laws that are at our disposal to create customized court documents and compelling legal cases that alleviate the stress and anxiety that weighs on our clients who are overwhelmed by mounting medical bills, credit card debt, and threats of losing their homes, cars, or other important assets. And we can do the same for you.
How Do I Know If Chapter 7 Bankruptcy Is For Me?
If you are being harassed by creditors who are seeking to collect unsecured debts, and would like to wipe your financial slate clean, our Albany, Georgia, bankruptcy attorney will review your case to determine if Chapter 7 laws provide the solutions you need to start over financially.
Chapter 7 bankruptcy can eliminate debt associated with:
- Medical bills
- Credit cards
- Personal loans, including payday loans and signature loans
Newer federal Chapter 7 bankruptcy laws require individuals to pass a “means test” which includes determining your filing eligibility by examining your household's:
- Median income
Beginning on July 1, 2013, the median income cap for filing Chapter 7 bankruptcy in the state of Georgia became:
- $41,214 for a single wage earner
- $51,954 for a family of two
- Incremental increases based on additional family members
What If I Make More Money Than The Median Income? Can I Still File For Chapter 7 Bankruptcy?
If you make more than the median income eligibility requirements, your Albany Chapter 7 bankruptcy case will become more complex and lead to our skilled Albany Chapter 7 bankruptcy attorney delving deeper into our calculations to explore additional opportunities set forth in the “means test” to provide a solution for your unique case. Do not be dissuaded by rumors and falsehoods surrounding Chapter 7 bankruptcy laws and eligibility. Get the facts from The Law Office of Robert J. Pinnero P.C., during a free initial consultation today.
If you are eligible, our Chapter 7 bankruptcy attorney in Albany, Georgia, will open doors to financial relief by stopping your creditors from:
- Contacting you at home or at work
- Attempting to collect payment through phone calls, letters or collection tactics
- Filing lawsuits to secure a judgment against you
- Garnishing your wages, or freezing funds in your bank accounts
- Repossessing your assets, including your vehicle
- Proceeding with the foreclosure of your home
Can Chapter 7 Bankruptcy Allow Me To Retain My Assets?
Secured debt, which is a debt where the creditor has a secured interest, including vehicles, equipment, or homes, must be paid back in order to keep those assets. The debt associated with secured loans or mortgages will not be erased during bankruptcy.
Keeping your home during Chapter 7 bankruptcy filing is possible if you meet the necessary criteria, including:
- You are current on your mortgage payments
- You do not have enough equity in the home to require its sale
- Your meet the Georgia state residency requirements
Keeping your car during Chapter 7 bankruptcy filing requires similar criteria to be met, but you may be able to reaffirm the debt by signing a new agreement – should your lender approve the approach.
If you are afraid of losing your home to foreclosure or your car to repossession because you are behind on your payments, Chapter 13 bankruptcy may be the better option for you. Our Albany, Georgia Chapter 7 bankruptcy attorney will outline each process separately, so you can make an informed decision regarding the financial solutions that are available to you.
What Is The Downside To Filing For Chapter 7 Bankruptcy?
There are many positive factors that will enhance the quality of your life – both personally and financially – when you file for Chapter 7 bankruptcy. When you take advantage of the opportunity to make a clean start, your stress level will decrease immensely, and your financial strain will be no more.
However, the negative factors will expose themselves through your credit report, as the bankruptcy will be outlined there for ten years, which may prevent you from obtaining a mortgage or a loan.
Are You Considering Chapter 7 Bankruptcy? Contact Us Today For A Free Consultation.
If you are considering filing for Chapter 7 bankruptcy, contact our experienced Albany Chapter 7 bankruptcy lawyer at the law office of The Law Office of Robert J. Pinnero P.C., in Albany, Georgia today at 229-436-9661 to schedule a free consultation and to determine which bankruptcy solution is right for you. Our Albany Chapter 7 bankruptcy attorney will outline the best approach to relieving your debt troubles during our first meeting, so you can make an informed decision regarding your financial future right away. Do not let your creditors cause any more stress in your life. Discover your best road to financial recovery now, and let's get started.