Common Mistakes Which May Prevent Effective Bankruptcy Relief
There is no question that a bankruptcy filing – either under Chapter 7 or Chapter 13 – can provide relief from creditor harassment. Bankruptcy can prevent garnishments , foreclosures, repossessions and collection calls. However, some individuals may find that their bankruptcy options are limited, or even unavailable, due to mistakes or omissions that have occurred […]
The Consumer Finance Stress Test: Factors that the Experts Believe Add to Your Financial Vulnerability
Other blogs on this site have addressed some of the “warning signs” that a consumer or small business bankruptcy may be on the horizon. But various studies have been commissioned to look beyond those warning signs, and see if there are any personal or community characteristics which may influence individuals long before the warning signs […]
Holiday Debt Management
As the end of 2013 approaches, with the holiday season is in full swing, it is important to manage your finances to avoid the January “debt blues”. While sharing the joy of the season is admirable, you will not be sharing the debt burden, so economizing and budgeting are important. A few things to consider: […]
DEBT ISSUES TO AVOID FOR FURLOUGHED AND “SHUT DOWN” EMPLOYEES
As many federal, state and local employees struggled with reduced or suspended wages, this blog will revisit previous suggestions for individuals who have been terminated or downsized. Any type of interruption of income is going to cause a problem with the household finances. The important thing is to take steps to minimize the impact by […]
Mortgage Loan Modification Update
Previous blogs have discussed the mortgage modification options that are available to distressed homeowners, and the steps necessary to successfully accomplish a mortgage loan modification. Unfortunately, there appeared to be little incentive for the mortgage companies to allow for permanent loan modifications. Lawsuits have been filed against Bank of America and Wells Fargo related to […]
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 […]