Columbia County, Georgia Chapter 7 attorney

Chapter 7 is about selling the filer’s assets rather than repayment. Previously debtors could choose whether they wanted Chapter 7 or 13. However now, if their income is high, they do not have a choice and will have to file under Chapter 13. In order to file Chapter 7, a filer should demonstrate that his disposable income is less than a certain low sum of money. Contact with an experienced Columbia County, Georgia Chapter 7 attorney to know if you qualify for Chapter 7. In Chapter 7, assets are sold and the proceeds are used to pay off the filer's creditors. Chapter 13 is about repayment. All income goes into repaying debts. If available income is more than that of the median in Georgia, the debtor’s permitted expenses will be decided by the IRS. The amount should come out of the filer's income during the six-month period preceding the filing. The chapter 11 debtor has a one-time absolute right to convert the chapter 11 proceeding to a case under chapter 7 except if (1) the debtor is not a debtor in possession, (2) the proceeding originally was started as an involuntary proceeding under chapter 11, or (3) the proceeding was converted to a case under chapter 11 other than at the debtor's request. The debtor in a chapter 11 case does not have an absolute right to have the case dismissed upon request. There are major exceptions to the conversion process in a chapter 11 case. Except when the debtor requests the conversion, section 1112(c) of the Federal Bankruptcy Code does not allow the court to convert a case involving a farmer or charitable institution to a liquidation case under chapter 7.

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