All of your debts are not wiped out in a Chapter 7 bankruptcy. There are certain types of debts that can not be discharged under Chapter 7. Court ordered child support; alimony and debts incurred by fraud are not dischargeable. Some taxes and student loans may also not be dischargeable.
The filing of a petition under Chapter 7 automatically stays most actions against the debtor or the debtor's property. This stay arises by operation of law and requires no judicial action. As long as the stay is in effect, creditors generally cannot initiate or continue any lawsuits, garnish wages, or make telephone calls demanding payments. Creditors normally receive notice of the filing of the petition from the bankruptcy court clerk. One of the schedules that will be filed by the individual debtor is a schedule of exempt property. Upon the filing of the Chapter 7 petition, an impartial case trustee is appointed by the U.S. trustee to administer the case and liquidate the debtor's nonexempt assets. The primary role of a Chapter 7 trustee in an asset case is to liquidate the debtor's nonexempt assets in a manner that maximizes the return to the debtor's unsecured creditors. A discharge releases the debtor from personal liability for discharged debts and prevents the creditors owed those debts from taking any action against the debtor or his or her property to collect the debts.
Contact us if you want to file for bankruptcy. Our Macon, GA (Georgia) bankruptcy lawyers regularly help clients in Macon GA (Georgia), as well as Roberta, Warner Robins, Forsyth, Byron-Centerville, Culloden, Fort Valley, Haddock, Jeffersonville, Lizella, Perry, Gray, Irwinton, Milledgeville and Vienna including Bibb County, Monroe County, Jones County, Crawford County, Peach County, Twiggs County, Baldwin County, Dooly County Houston County, Wesleyan College, Macon State College and Mercer University file for bankruptcy.
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Macon Georgia bankruptcy lawyer | Bankruptcy attorneys in Macon GA and Warner Robins - Filing for Chapter 7 Bankruptcy and Chapter 13 Bankruptcy in Macon GA
http://www.macongabankruptcy.com
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