In order to file for bankruptcy in Georgia, an individual must meet certain requirements. Firstly, the individual must have resided in Georgia for the six months preceding the bankruptcy filing. Secondly, the individual must complete credit counseling from an approved agency within the 180 days before filing for bankruptcy. Additionally, the individual must not have had a bankruptcy case dismissed within the past 180 days due to not following court orders or appearing in court.
There are two types of bankruptcy that individuals can file for in Georgia: Chapter 7 and Chapter 13. In a Chapter 7 bankruptcy, the individual's non-exempt assets are sold to pay off creditors, and any remaining debts are discharged. In a Chapter 13 bankruptcy, the individual creates a repayment plan to pay off their debts over a period of three to five years.
To file for bankruptcy in Georgia, the individual must submit a bankruptcy petition and other required documents to the bankruptcy court in the district where they reside. The court will then assign a trustee to oversee the individual's case and schedule a meeting of creditors.
It is important to note that certain debts, such as student loans and taxes, may not be discharged in bankruptcy. Additionally, bankruptcy can have a negative impact on the individual's credit score and ability to obtain credit in the future.
If an individual is considering filing for bankruptcy in Georgia, they should consult with a licensed attorney who can provide personalized legal advice and guidance.
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