Chapter 7

Bankruptcy Guidance

Trusted Chapter 7 Bankruptcy Attorney in Atlanta

Are you currently facing an overwhelming financial crisis, struggling to cope with mounting debts and relentless creditor harassment? When life presents unexpected challenges, seeking legal protection to regain control of your life is a prudent choice. At Reidy Law Firm LLC, we truly understand the complexities of financial struggles, and our highly experienced Atlanta Chapter 7 bankruptcy lawyer is here to provide you with personalized attention and expert guidance throughout the entire process. We are proud to offer our Chapter 7 bankruptcy services to individuals residing in Cherokee, Clayton, Cobb, DeKalb, Douglas, Forsyth, Fulton, Gwinnett, Paulding, Rockdale, and all of North Georgia.

Begin your journey towards a debt-free future by reaching out to us online or calling (678) 993-9554 .

fresh financial start

What is Chapter 7 Bankruptcy?

Chapter 7 bankruptcy, also known as “liquidation bankruptcy,” is a legal process designed to provide individuals with a fresh financial start. It allows eligible debtors to discharge most of their unsecured debts, such as credit card debt, medical bills, and personal loans, giving them the opportunity to rebuild their financial lives.

Chapter 7 vs. Chapter 13 Bankruptcy: Which One Suits Your Needs?

It’s important to note that Chapter 7 bankruptcy is specifically intended for individuals with limited disposable income. If you have a steady and substantial income despite your debts, Chapter 13 bankruptcy might be a more suitable option for you. Our Atlanta Chapter 7 bankruptcy attorney will carefully evaluate your financial situation and recommend the best course of action for your unique case.

How Chapter 7 Bankruptcy Works In Georgia

Filing for Chapter 7 bankruptcy is a crucial decision that depends on your unique financial situation. To determine eligibility, our bankruptcy attorney will conduct a Means Test. This test compares your current income to Georgia’s average median income for your household size. If your income falls below this median, you automatically qualify for Chapter 7.

For those with higher incomes, the attorney will deduct allowable expenses from your income to assess your disposable income. If you have little to no disposable income after essential expenses, Chapter 7 bankruptcy may be the right option for you.

Let Us Help You Navigate the Bankruptcy Process

At Reidy Law Firm, LLC, we believe in helping you navigate the bankruptcy process with ease. Our Atlanta Chapter 7 bankruptcy lawyer will ensure you understand all available exemptions and protect your assets to the fullest extent possible.

By leveraging these exemptions, we aim to preserve as much of your property as possible, allowing you to retain essential assets throughout the process. Following liquidation and the completion of a financial management course, the court typically discharges qualifying unsecured debts. This includes credit card debt, medical bills, unpaid utility bills, and personal loans.

However, it’s important to note that certain debts are not dischargeable, such as recent tax debt, student loans, and missed child or spousal support payments. Additionally, some secured assets, like your home or car, can be retained as long as you continue making payments.

These exemptions may include:

Up to $21,500 of equity in real estate property used as a residence (up to $43,000 if exclusively owned by one spouse in a marriage)
Up to $10,000 of unused homestead exemption
Up to $5,000 of equity in motor vehicles
Up to $5,000 of value in various personal items, such as furniture, household goods, animals, appliances, clothing, and musical instruments (up to $300 per item)
Up to $500 of value in jewelry
Up to $1,500 of value in tools of your trade
100% protection for health aids, workers' compensation benefits, Social Security benefits, and unemployment compensation
Funds necessary for alimony and child support
Up to $10,000 of personal injury awards
Many types of retirement accounts
Up to $1,200 of any property of your choosing (the "wildcard" exemption)

When Is Chapter 7 Bankruptcy Suitable?

Facing financial hardship can be one of life’s most challenging experiences. However, seeking a way out of the overwhelming debt burden is not only possible but can also provide you with a fresh start. Chapter 7 bankruptcy, offered at Reidy Law Firm, LLC, can be the lifeline you need to regain control of your finances and pave the way to a debt-free future.

Let’s explore the key factors that make Chapter 7 bankruptcy suitable for individuals seeking relief:

Minimal Disposable Income

If you recently lost your job, have an irregular income, or are struggling with low-paying employment, you likely have little or no disposable income, making you eligible for Chapter 7 bankruptcy.

Fast Debt Relief

Chapter 7 bankruptcy is ideal for individuals seeking a quicker resolution to their financial difficulties. It provides a fresh start by discharging unsecured debts like credit card bills and medical expenses.

No Repayment Plan

Unlike Chapter 13 bankruptcy, which requires a repayment plan, Chapter 7 involves liquidating non-exempt assets to pay off debts without an extended payment schedule.

"Dennis made my bankruptcy super easy and fast. Did 1000% of the leg work and always was responsive and efficient"

– Alesha

Contact Reidy Law Firm, LLC, for Comprehensive Chapter 7 Bankruptcy Assistance

When you choose Reidy Law Firm, LLC, you can trust that you are in capable hands. Our dedicated Atlanta Chapter 7 bankruptcy attorney will provide one-on-one attention from the initial consultation to the discharge of your debts. We’ll be readily available to answer your questions and provide updates throughout the process.

Don’t hesitate to reach out to us online or call (678) 993-9554 if you have any questions about Chapter 7 bankruptcy in Georgia. Schedule a free initial consultation today and take the first step toward a fresh financial start.

Why Clients Choose Us

Support from Start to Finish

Unlike larger firms, we are able to give you personalized attention and service. Feel confident in a firm that cares about getting the best outcome for you.

Flexible Options

We understand that you are going through a difficult time. Flexible payment options and appointments are available for your convenience.

Experience Where it Counts

Knowing you have an experienced attorney allows you to focus on other things, confident that we will see to the details.

Free, No Obligation Consultation

Find out how we can help you with a free consultation. We are available 24/7:
(678) 993-9554

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