Contact Information
The Schofield Law Firm
1524 Richmond Street
Brunswick, GA 31520
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Mailing Address
P.O. Box 389
Brunswick, GA 31521

Phone: 912-275-7018
Fax: 912-275-7019


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Call now to schedule a free bankruptcy consultation. Regular office hours are Monday through Friday from 9 a.m. to 5 p.m. After-hours appointments are available upon request.
Old Glynn County Courthouse | Brunswick, Georgia
Chapter 7
Overview | Terms | Chapter 7 | Chapter 11 | Chapter 13 | Why Hire an Attorney | What to Expect

A chapter 7 bankruptcy case is known as a "liquidation case." Individuals, married couples, and businesses can file for bankruptcy under chapter 7. Not everyone is eligible to file a chapter 7 case. In some cases, if you have too much income (as determined by a formula called the means test) you may have to file a chapter 13 case and pay your debts over time through a "chapter 13 plan."

After a chapter 7 case is filed, a chapter 7 trustee will be appointed to your case. The trustee's job is to sell all nonexempt assets and distribute any money recovered from those sales to your creditors.

Filing a chapter 7 bankruptcy does not necessarily mean that you will "lose everything." You may be able to keep all exempt property. Exemptions are determined by state law, and they allow you to keep any equity in property up to certain amounts. You may also choose (subject to court approval) to keep making payments on existing debts (such as car loans) in order to avoid having to surrender the property. This is called "reaffirmation." Reaffirming a debt is not always the best option, especially if you would have difficulty making the payments. You should speak with The Schofield Law Firm to discuss what is best for you.

After the trustee has finished selling your nonexempt assets, you will receive a discharge of most of your debts (some debts are extremely difficult to discharge in bankruptcy, such as student loan debt). This means that you are no longer obligated to make payments on any of those discharged debts, giving you the "fresh start" you need to rebuild your finances.

For advice on whether chapter 7 is right for you, contact The Schofield Law Firm at 912-275-7018 for a free consultation.