Bankruptcy / Georgia / Fair Oaks

Filing Bankruptcy in Fair Oaks: 7 Things You Need to Know

Written by Ben Tejes
Updated Oct 18th, 2022

You are considering filing for Chapter 7 bankruptcy or Chapter 13 bankruptcy in Fair Oaks. Bankruptcy is a common debt relief choice. 

In fact, many people in Georgia have received bankruptcy relief, and Fair Oaks is no different. In fact, there were 22,225 bankruptcies filed in Georgia in the year ending June 30, 2021 (Source). With a population of 9518, I’d estimate a fair number of those were in Fair Oaks.

The purpose of this article is to provide an extensive list of filing bankruptcy in Fair Oaks including:

  1. Chapter 7 Bankruptcy in Fair Oaks
  2. Chapter 13 Bankruptcy in Fair Oaks
  3. Fair Oaks Bankruptcy Attorney Fees
  4. Finding a Reputable Bankruptcy Lawyer in Fair Oaks
  5. Estimating Loss of Belonging (i.e.
  6. Getting Bankruptcy Help in Fair Oaks
  7. Bankruptcy Alternatives and Conclusion

Without further ado, let’s get started with Chapter 7 bankruptcy.

Chapter 7 Bankruptcy in Fair Oaks

Chapter 7 bankruptcy is the most common consumer bankruptcy in the United States. People appreciate the simplicity of Chapter 7 bankruptcy, the cost of the Chapter 7 bankruptcy, and the speed of debt relief. For example, in Fair Oaks, you could get debt relief in about 120 days with a Chapter 7 bankruptcy.

One of the challenges of Chapter 7 bankruptcy in Fair Oaks is that you have to qualify. In order to qualify in Fair Oaks, you often have to pass the Georgia bankruptcy means test. You can estimate that qualification below in Fair Oaks. Let’s cover how you can qualify.

Chapter 7 Qualification

The first part of the means test is to understand your income in relation to the median income levels for Georgia. It considers the average family size and income.

To estimate your qualification, you can take the Fair Oaks Chapter 7 qualification calculator below that is specific to Fair Oaks.

Finally, the most recent Georgia median income levels is for cases filed on or after May 15, 2022, and can be found below.

# of PeopleAnnual Income
1$56,008
2$71,464
3$81,241
4$95,959
5$105,859
6$115,759
7$125,659
8$135,559
9$145,459

If your income exceeds the median, you can move on to the second part of the means test to estimate qualification. The second part of the means test is to understand your actual expenses. You can check out our guide covering trying to qualify for Chapter 7 bankruptcy above the median.

For example, the average median rent amount in Fair Oaks is $940, but let's say your rent is almost double that amount. Could you potentially still qualify for Chapter 7 bankruptcy because of those additional expenses? What you are able to state as ab expense is limited, and you can refer to the current national standard for the maximum amounts, but you may want to speak with your attorney about this situation.

Chapter 13 Bankruptcy in Fair Oaks

Chapter 13 bankruptcy is known as a wage-earner bankruptcy. Chapter 13 bankruptcy is a voluntary reorganization of debt.  In Chapter 13 bankruptcy, the individual has debt that they can no longer manage and often own assets that exceed state and/or federal relief. Folks file Chapter 13 bankruptcy often when they do not qualify for Chapter 7 bankruptcy.  

Most individuals in Fair Oaks will qualify for Chapter 13 bankruptcy as long as they are below the debt limits.

Compared to Chapter 7, there is no liquidation in Chapter 13 Bankruptcy. Although, the discharge won’t be until around 3 to 5 years. The Chapter 13 bankruptcy will stay on your credit report for 7 years.

Fair Oaks Bankruptcy Attorney Fees

When looking for a bankruptcy attorney, we recommend that you look for these 5 attributes: Rate, Reliability, Referrals, Reviews, and Relevancy. You can check our guide to find a top bankruptcy attorney in Fair Oaks.

The estimated Chapter 7 bankruptcy lawyer fee in Fair Oaks is: $1000 - $2000.

The estimated Chapter 13 bankruptcy lawyer fee in Fair Oaks is: $4,250. The Chapter 13 attorney fee is often set across the district, meaning that all Chapter 13 bankruptcy attorneys in a district may charge around the same fee.

Fair Oaks Bankruptcy Attorneys

One of the most important things to do is to find a reputable bankruptcy attorney in Fair Oaks if you decide to hire one. This is legal advice related to finances that are going to affect your future. For example, making sure you are in the right bankruptcy chapter (Chapter 7 vs Chapter 13) could cost you thousands more and take you years longer.

Chapter 7 Bankruptcy Lawyer

As stated above, Fair Oaks has a population of 9518. In many cases, individuals in larger cities such as Atlanta or Augusta would like a bankruptcy lawyer close by. In smaller cities, I have found that individuals have questions about whether the bankruptcy will show up in the newspaper or whether friends will hear about it. This is a valid question.

Regardless, you can check the Chapter 7 bankruptcy lawyers in or near Fair Oaks using the table below. You just need to input your zip code, and voila, you can choose which Chapter 7 bankruptcy lawyer you would like to speak to near or far away from Fair Oaks in a free bankruptcy lawyer consultation

Chapter 13 Bankruptcy Lawyer

Filing a Chapter 13 bankruptcy in Fair Oaks may be a bit more intensive, so you may consider a Chapter 13 bankruptcy that is closer to you. That said, with the internet and the pandemic, many of the meetings are now online and you can generally submit your documentation online as well.

Regardless, you can use the table below to find a Chapter 13 bankruptcy lawyer in or near Fair Oaks. Also, the fees are just estimates, and may not be reflective of the actual cost of the attorney fees.

Zip code
sort_numguidhas_phoneFirmRatingReviewsRelevancyFree ConsultPayment PlansContactClick to Call

Bankruptcy Exemptions in Georgia

As you live in Fair Oaks, you are often able to use the Georgia bankruptcy exemptions to help you keep your belongings.

One of the biggest questions people have is whether they are able to keep their homes in bankruptcy. This is where bankruptcy exemptions come into play. As Fair Oaks has a home ownership % of 32.4% and an estimated estimated home value of $136090, you can understand that many people want to keep this asset. You can often keep your assets using bankruptcy exemptions.

Here are the Georgia bankruptcy exemptions. The exemptions are revised on different occasions, so you may wish to check the most current information on exemptions. Also, as a reference, Georgia is a place that does not allow you to use federal bankruptcy exemptions. You often have to choose which one to use, so a bankruptcy attorney can help you with that option.

Homestead Exemption

The homestead exemption is often broken down by age and whether you are married. 

  • Single and under 65: $21,500
  • Single is 65 or older: $21,500
  • Married and under 65: $43,000
  • Married is 65 or older: $43,000

Georgia specific homestead bankruptcy exemption text: “Georgia Code Ann. § 44-13-100(a)(1) & (a)(6), 44-13-1. Real or personal property, including co-op, used as residence to $21,500 ($43,000 if married, and the property is solely owned by one spouse); up to $5,000 of unused portion of homestead may be applied to any property.” (Source)

Automobile Exemption

The automobile bankruptcy exemption in Georgia is $5,000.

Jewelry Exemption

The jewelry bankruptcy exemption in Georgia is $500.

Tools of Trade Exemption

The tools of the trade bankruptcy exemption in Georgia is $1,500.

Wildcard Exemption

The wildcard bankruptcy exemption in Georgia is $1,200.

Personal Property Exemption

The personal property bankruptcy exemption in Georgia is $5,000.

Special Exemption Handling for Georgia

Below is specific special handling of bankruptcy exemptions in Georgia.

  • Wildcard: up to $10,000 based on unused homestead exemption

Bankruptcy Help in Fair Oaks

Unemployment can cause both frustration and angst about options. The most recent statistic I found is that the Fair Oaks unemployment rate is 5.9%. There may be resources available to help. In addition to the unemployment rate, Fair Oaks has a disability rate of 12.6%. As such, if you are truly in need and don’t have income, there are resources that may be available that can help you.

Check out the legal aid and free resources that may be available in Fair Oaks.

Legal Aid and Free Resources

Here are some legal aid resources that may be helpful to you in Fair Oaks.

The bankruptcy court and district may have free resources that are available to you. I have included the information below. 

Lastly, Fair Oaks also has a limited English rate of 20.5% and a poverty rate of 26.5%. If you have limited English, you may check out the court websites for Georgia for additional information on how you can be served. You can also see how filing bankruptcy without an attorney can work if you cannot afford a bankruptcy lawyer.

Courts and Districts in Georgia

Northern District

  • Richard B. Russell Federal Building
    2211 United States Courthouse
    75 Ted Turner Drive, SW
    Atlanta, GA 30303-3309
  • Sidney O. Smith Federal Building & United States Courthouse
    121 Spring Street SE Room 201
    Gainesville, GA 30501-3789
  • Lewis R. Morgan Federal Building & United States Courthouse
    18 Greenville Street
    Newnan, GA 30263-2789
  • United States Courthouse
    600 East First Street
    Rome, GA 30161-3149

Middle District

  • 475 Mulberry Street
    Macon, GA 31201
  • 201 West Broad Avenue
    Albany, Georgia 31701
  • 115 East Hancock Avenue
    Athens, Georgia 30601
  • 120 12th Street
    Columbus, GA 31902
  • 401 North Patterson Street
    Valdosta, GA 31601

Southern District

  • 600 James Brown Blvd.
    Augusta, GA 30901
  • 801 Gloucester Street
    Brunswick, GA 31520
  • 100 North Franklin Street
    Dublin, Georgia 31021
  • 125 Bull Street
    Savannah, GA 31401
  • 601 Tebeau Street
    Waycross, Georgia 31501
  • 52 North Main Street
    Statesboro, Georgia 30458

Debt Settlement in Fair Oaks

One of the most common alternatives to bankruptcy is debt settlement. A debt settlement firm would negotiate for a lower amount due on your debt in the case of financial hardship. The goal would be to reduce your debt in half. In this case, you would have a lower monthly payment.

If you are looking at debt settlement in Fair Oaks, you may want to consider a national debt settlement firm to a local one in Fair Oaks. For example, most of your creditors are probably national banks instead of local Fair Oaks banks. As such, you can potentially get lower fees by using a national firm. You should strongly consider the pros and cons and credit score impact before taking the plunge as Ascend only recommends 2 debt settlement firms nationwide that both offer free phone evaluations.

Conclusion

Chapter 7 bankruptcy and Chapter 13 bankruptcy in Fair Oaks can provide debt relief. That said, you may want to consider the cost of bankruptcy in Fair Oaks, the different bankruptcy chapters, reputable attorneys in Fair Oaks and alternatives to help you make the most informed decision. 

You can also take our Chapter 7 vs Chapter calculator below to help you estimate the cost and qualification of Chapter 7 bankruptcy and Chapter 13 bankruptcy in Fair Oaks.