If you’re in over your head with debt, you know how hopeless it can feel. This is especially true when you don’t have the income to repay the debts.
Instead of getting down in the dumps, you should take action. One thing you can do is get debt relief with the help of a bankruptcy attorney Valdosta. By filing Chapter 7 or Chapter 13 bankruptcy, you can stop creditors from ringing your phone off the hook.
When you file Chapter 7 bankruptcy, your goal is to eliminate your dischargeable debts. These debts include mortgage debt, most civil judgments, repossession debt, medical bills, credit card debt and utility bills. After these types of debts have been discharged, you aren’t responsible for repaying them.
To qualify for Chapter 7 bankruptcy, you must meet the income requirements. The bankruptcy court uses the Department of Justice Median Income Chart to determine if you’re eligible to file for Chapter 7 bankruptcy.
Depending on your case, it can take a little over 100 days to complete your Chapter 7 bankruptcy case. Once your case has been completed, your responsibilities to the bankruptcy court will end.
Chapter 13 bankruptcy is known as the ‘wage earner’s bankruptcy’. This type of bankruptcy requires filers to repay their debts over a period of 3 to 5 years. People who earn too much money to file Chapter 7 can file Chapter 13 bankruptcy.
Interested in filing Chapter 7 or Chapter 13 bankruptcy with a bankruptcy attorney Valdosta? Charles Farrell Law can help you get relief from crushing debts. Whether you’re being threatened with a wage garnishment or you have medical bills, bankruptcy might be a good choice for your situation. To learn more about our law office, visit
