When facing a difficult financial situation or when overwhelmed by debt, bankruptcy can be a way to get you back on your feet and help you move toward a better financial future. This is accomplished in different ways, depending on what type of bankruptcy you choose to file, a Chapter 7 bankruptcy or a Chapter 13 bankruptcy. With a Chapter 7 bankruptcy, many debts can be discharged completely. In a Chapter 13 bankruptcy, a 3-5 year repayment plan is established which can help alleviate immediate financial stress.
Both types of bankruptcy can bring about positive outcomes and help better your financial situation, which is why you want to avoid having your bankruptcy dismissed. A bankruptcy can be dismissed for a variety of reasons including:
- Failing the Georgia means test—in order to file for a chapter 7 bankruptcy your disposable income must fall below a certain threshold, otherwise your case can be dismissed and you may have to file a chapter 13 bankruptcy instead.
- Failing to disclose assets or failing to turn over property to your trustee—in a bankruptcy, you must disclose all your assets, attempting to hide any asset can lead to dismissal. The same is true if you fail to turn over assets to your trustee when required to.
- Failing to provide the proper documents—Bankruptcy can be complicated and failing to provide the proper documents could lead to your bankruptcy being dismissed. This is particularly the case when it comes to tax documents—a bankruptcy requires you to provide copies of your past tax returns.
- Previously receiving a bankruptcy discharge—If you have filed for bankruptcy before and received a discharge, you are required to wait a specific amount of time before filing again (8 years for Chapter 7, and 4 years for Chapter 13). If you try to file again before the time has passed, your case will be dismissed.
- Having a Creditor challenge your case—A Chapter 7 bankruptcy can be unsuccessful if creditors or your bankruptcy trustee claim you are not eligible to have the debt discharged.
Avoiding Atlanta Bankruptcy Dismissal
Bankruptcy can be a way to get your finances back on track and improve your financial future. With these positive results as a possible outcome, you don’t want to have your bankruptcy held up or dismissed because of a mistake. Bankruptcy can be complicated, so the best way to avoid dismissal is to speak with an experienced Georgia bankruptcy attorney who can guide you through the process.
The skilled Atlanta bankruptcy attorneys at The Ballard Law Group have years of experience helping clients obtain successful bankruptcy discharges—we can be by your side from the start to the finish of your bankruptcy to ensure you avoid a possible dismissal. We offer a free consultation to answer your questions and help you begin your path to a better financial future. Call us at (404) 800-9939 to schedule your appointment today.