Every state has different rules when it comes to bankruptcy. States have their own laws about which property can be kept (exempted) in a Chapter 7 bankruptcy proceeding. While many states allow you to choose between state and federal rules, Georgia limits its residents to state rules. Georgia’s bankruptcy exemptions apply to property or equity… Read More »
As you consider filing bankruptcy, you must account for the type and amount of debt you have and for which type of bankruptcy to file in order to best resolve your financial crisis. Chapter 7 is the most frequently filed for and fastest type of consumer bankruptcy. Known as “liquidation” bankruptcy, Chapter 7 allows you… Read More »
By
Robert J. Semrad
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Published
October 7, 2013
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Posted in
Bankruptcy, Chapter 7
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Tagged bankruptcy exemptions, Chapter 7, consumer bankruptcy, dischargeable debts, filing bankruptcy, liquidation bankruptcy, means test, median income, nondischargeable debts
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