Peter B. Hoffman, Attorney at Law | Lawyers - Bankruptcy
At the Law Office of Peter B. Hoffman, we take pride in client service. We strive to respond to all phone calls and e-mails quickly, and work very closely with our clients. Whether you are involved in a Chapter 7 or Chapter 13 bankruptcy, you will receive the best that we have to offer.
To contact the firm, fill out the contact form on the left or call us at706-987-8102.
What is a Chapter 7 Bankruptcy?
Chapter 7 is a common form of bankruptcy case that most debtors have been filing. A filing under chapter 7 is called liquidation. It is a kind of liquidation proceeding in which the debtor is allowed to keep aside exempt property whereas a trustee appointed by the court collects his non-exempt assets, sells them and pays off the creditors through the sale proceeds. To qualify for relief under Chapter 7 of the Bankruptcy Code, the debtor must be an individual or a partnership, or a corporation.
A Chapter 13 case begins when a debtor files a petition with the bankruptcy court. The debtor must file the following documents with the court:
- Schedules of assets and liabilities;
- Schedule of current income and expenditures;
- Schedule of unfulfilled contracts and unexpired leases; and
- Statement of financial affairs.