Chapter 7: Straight Bankruptcy Or Liquidation

For many people, filing Chapter 7 is the quickest, easiest way to get out of debt. Like all chapters of bankruptcy, however, it has pros and cons that you should discuss with a lawyer before you decide to file.

At Woodall & Woodall, we have helped thousands of people in southern Georgia file Chapter 7 bankruptcy. You can rely on our experience as we review your finances and discuss the possibility of bankruptcy with you. If bankruptcy is not the right option for you, we will tell you upfront. If it is, we will explain how Chapter 7 may benefit you.

We are one of the leading bankruptcy firms in southern Georgia. Based in Valdosta we serve clients throughout the southern part of the state, including the communities of Albany and Thomasville. We want you to know that you do have options and there are attorneys who care.

Chapter 7 Eliminates Many Debts

Under Chapter 7, unsecured debts such as medical bills, personal loans and credit cards will be discharged. This means you do not have to repay them.

Secured debts may be discharged if you return the collateral to the lender. For example, if you can no longer pay your auto loan and do not plan to keep your car, you can return it to the lender and your loan will be wiped out.

Like every chapter of bankruptcy, Chapter 7 provides the automatic stay, which prevents creditors from harassing you and taking collection actions against you. This means that while the bankruptcy is in progress, no lender or collection agency can contact you, foreclose on your home or repossess any property.

We will put your finances through the Chapter 7 means test to determine whether you qualify. If you do not, you may be able to file Chapter 13 bankruptcy instead. We will discuss all of this with you so you can make an informed choice.

Now Is The Time To Take Action

For a free consultation, please call our attorneys in Valdosta at 229-247-1211. You can also complete the online contact form if you prefer.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.

Chapter 7 & 13 Bankruptcy Comparison Chart
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