BANKRUPTCY EXEMPTIONS: WHAT CAN I PROTECT WHEN I FILE MY CHAPTER 7 BANKRUPTCY CASE IN GEORGIA?
A common concern among individuals filing for a Chapter 7 bankruptcy is that they may lose some of their property to the bankruptcy “estate”. The bankruptcy estate consists of property that the debtor owns at the date of filing, and in some instances that property can be liquidated for the benefit of the creditors. One […]
SAFEGUARDING YOUR FINANCIAL FUTURE PART THREE: WHAT TO DO, AND WHAT NOT TO DO
This blog is a follow-up to the article “SAFEGUARDING YOUR FINANCIAL FUTURE PART TWO”, and will hopefully provide additional information about preventive measures which can be taken to prevent, or at least minimize, financial distress. PART ONE was primarily geared towards those at the beginning of their careers. PART TWO made recommendations for those […]
SAFEGUARDING YOUR FINANCIAL FUTURE PART TWO: WHAT TO DO, AND WHAT NOT TO DO
This blog is a follow-up to the article “SAFEGUARDING YOUR FINANCIAL FUTURE PART ONE”, and will hopefully provide additional information about preventive measures which can be taken to prevent, or at least minimize, financial distress. While PART ONE was primarily geared towards those at the beginning of their careers, PART TWO will make recommendations for […]
SAFEGUARDING YOUR FINANCIAL FUTURE PART ONE: WHAT TO DO, AND WHAT NOT TO DO
This blog is a follow-up to the article regarding “Recent Observations in Bankruptcy Court”, and will hopefully provide valuable information about preventive measures which can be taken to prevent, or at least minimize, financial distress. Based on those observations, our firm would advocate these precautions, and/or suggestions: 1) Get in the habit of saving, […]
Reaffirmation Agreements In Chapter 7 Cases: What it means for the Debtor
Chapter 7 bankruptcy allows a consumer to eliminate (“discharge”) their unsecured debt, subject to certain exceptions. [1] With respect to a secured debt, such as a home mortgage or auto loan, the consumer has three options. The first option is that they may “surrender” the collateral in full satisfaction of the debt. For instance, the […]
RECENT BANKRUPTCY COURT OBSERVATIONS
In the process of representing hundreds of clients in Bankruptcy Court – both in Georgia and South Carolina – I have had the opportunity to witness thousands of bankruptcy hearings where debtors were questioned under oath about their finances. The scope of the testimony covers not only what led debtors to have to file for […]
Residential Foreclosure: When it May Make Sense to Just Walk Away
Recent news about housing has been positive, as foreclosures have decreased in comparison to recent years. There are many possible reasons for the reversal of the trend, and many individuals and entities that want to take credit. But this blog will address one of the most difficult questions facing a distressed homeowner in foreclosure – […]
Student Loans and Collection Agencies: A Match Not Made in Heaven
This site has already addressed several issues with respect to student loans, and collection agencies. However, a greater portion of student loan lenders are now utilizing private collection agencies to recover on defaulted student loan debt. This includes both private and governmentally guaranteed student loan debt, and collection agencies are eagerly seeking to undertake collection […]
Prioritizing Debt Repayment from Your Income Tax Refund
This is the time of year when many consumer taxpayers are receiving their income tax refunds. While some of that money may be earmarked for special purposes – such as a vacation, large retail purchase or home improvements – many times it will be used to pay debt for which the consumer was already obligated. […]
What to Expect on Your First Visit to a Bankruptcy Attorney
Meeting with a complete stranger to discuss sensitive financial issues can be awkward and emotionally distressing. Many of my clients from the CSRA have told me how they had to “work up their nerve” to make the first phone call to our office. While filing bankruptcy is designed to provide relief to troubled consumers, our […]