Use the pages on this site to learn about filing bankruptcy in Georgia. We are pleased to offer you this helpful information, but please remember one important step in learning about bankruptcy – speak to an attorney! We can help you find a local Georgia attorney who offers a free bankruptcy consultation. Just use the form below or call the number at the top of this site.
One of the most basic things to know about bankruptcy is who can file and what the intention of the bankruptcy law is. Georgia, like all states, has many different types of people making different amounts of money, with different debts and different bills. The bankruptcy code is intended to give a fresh start to consumers who have found themselves caught in debt that they will never be able to pay off. Your personal debt and income, along with where you live, determines whether you are eligible to file for bankruptcy. But the basic intent of the law is that consumers who little or no income but significant debt can eliminate many of their debts to rebuild a strong future.
Okay, so how do we measure who is eligible to file bankruptcy? The answer is the means test. This is a basic test that you will take early on in your bankruptcy filing process. Your attorney will help you measure your income, your bills, and your debts. The specific details will vary for every individual, but if your income isn’t enough to pay your monthly bills and pay at least the minimum payments on your debt, you may qualify. This is exactly the type of situation that bankruptcy is intended to help. One of the most important numbers is your household income, and how it relates to the median household income in Georgia.
This number is measured every year, and the update is typically applied to the bankruptcy means test the following year. The median household income for the state of Georgia in 2011 was $46,007. This is an important number in your means test, but only one of many important factors.
You’re taking an important first step just by educating yourself about bankruptcy and what it will mean for you and your family. Continue reading the articles on the left of this page, and when you feel ready give us a call or complete one of our forms to find an attorney close to your home. You can call us any time, day or night, at (866) 284-4531. We are here to help!