Speaking with Attorneys that Understand Marietta Chapter 7/13 Bankruptcy Issues

Individuals who have been unfortunate enough to witness their finances getting to a point to where they can no longer afford to pay some of their bills may have to consider bankruptcy. A person can feel humbled knowing that their financial situation is beyond their ability to handle. However, it can also be a liberating time knowing that they are taking steps to address the issue, and that hopefully in the future, similar mistakes won’t be made. However, once the decision to file for bankruptcy has been made, figuring out if Marietta Chapter 7/13 Bankruptcy is the right move can take a bit of time.

Sometimes people are unaware that there is more than one type of bankruptcy. This can be troubling for an individual or couple, because they may not know what type of bankruptcy is best for them. Fortunately, consulting with an attorney is the best way to have these questions answered. There are many bankruptcy attorneys that handle both chapter 7 and chapter 13 bankruptcies, so finding an attorney in Marietta, Georgia isn’t going to be difficult.

For most individuals, chapter 7 and chapter 13 are the most common types of bankruptcies. Perhaps one of the easiest ways to determine which bankruptcy an individual or a couple qualifies for is to simply look at income. Typically, a means test will be required. This is a test that determines the percentage of debt from revolving credit, such as credit cards, as well as the income and the size of an individual or a couple’s family. Should the income go above the poverty levels set by the state of Georgia for a particular sized family, then a couple or individual may be barred from filing for Chapter 7 bankruptcy. In these instances, a person may have to opt for filing for Chapter 13 instead.

Regardless, it’s good to speak with an attorney that understands Marietta Chapter 7/13 Bankruptcy before doing anything else. They can administer the means tests and they can also counsel you on other avenues outside of bankruptcy, if applicable. If bankruptcy is inevitable, they can represent you and begin filing the paperwork to get the bankruptcy process started as quickly as possible. For more information on the various types of bankruptcies, you may want to visit a website .

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