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What is Georgia Chapter 7 Bankruptcy?

April 26, 2017Bankruptcy chapter 7 Georgia

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What is Georgia Chapter 7 Bankruptcy?

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Also known as “liquidation” or “clean slate” bankruptcy, Chapter 7 bankruptcy allows you to discharge (wipe out) most unsecured debt, such as credit card balances, medical bills, and even certain taxes. Some debts, such as child support, student loans, and recent taxes cannot be discharged through Georgia Chapter 7 bankruptcy. Typically, people who file for Chapter 7 have no assets to protect and earn below the median income.