Debt Management Plans: When It Makes Sense and When It Doesn’t
Many people who encounter financial hardship and fall behind on their credit card payments may consider a debt management plan. [i] In the standard debt management plan, a third party contacts the credit card companies on behalf of the consumer, and negotiates a reduced monthly payment. The consumer then pays a monthly payment to the […]
The Cost of Consumer Bankruptcy and How It Has Increased in the Last 10 Years
There is no question that the cost of filing bankruptcy for a typical consumer has increased dramatically in the Augusta, Georgia in the last 10 years. Some of the increases are easy to identify, such as the increase in court-imposed filing fees and the institution of mandatory credit counseling. But other increases are not as […]
Drive It or Dump It, Part 2: What to Do If the Car is Not Worth Keeping
This article is a follow-up to a previous article regarding the factors to be considered for a consumer who is considering the filing of a Chapter 13 bankruptcy to save a car from being repossessed by the lender. This article will address the bankruptcy alternatives which may be more desirable if the car is not […]
Drive It or Dump It? When It Makes Sense to Keep a Car in Bankruptcy, or Let It Go
There is no question that reliable transportation is essential to functioning as part of the American economy. Whether it be the means for an employee to get back and forth to work, or for a retiree to travel for necessary medical care, we must have transportation. It is even more of a necessity to have […]
The Perils of Filing a Pro Se Bankruptcy Petition – Part 2
This is a follow-up to a previous article that identified many of the pitfalls that confront a debtor who files for bankruptcy without the aid of an attorney. Specifically, that article addressed the main reasons why such debtors would not receive a discharge of their debts, or would lose assets. This article will address issues […]
2015 Foreclosure Trends in Georgia
In the wake of additional financial regulation and agency enforcement of settlement agreements, mortgage companies have to be very careful to make sure that there documents are in order before commencing a foreclosure proceeding. This is especially true if the loan has been assigned or transferred to another mortgage company or servicer. Sometimes a loan […]
Update on Debt Collection Scams
Previous articles here on the bankruptcy blog have discussed consumers’ rights under the Fair Debt Collection Practices Act (“FDCPA”) and the Do’s and Don’ts of Dealing with Collection Agencies. However, here in Augusta GA, we’ve noticed that some collection agencies have become more aggressive in how they collect debts. Additionally, there are other scammers who […]
The Perils of Filing a Pro Se Bankruptcy Petition – Part 1
The Bankruptcy Code does not require that a debtor must hire an attorney to file the bankruptcy petition and represent them in court. I have noticed lately in Augusta that the number of “pro se” debtors has increased.[i] Some of these petitions were prepared by the debtors themselves, while others were prepared by an online […]
Rebuilding Your Credit After Bankruptcy
A common question that we receive from clients at Leiden & Leiden in Augusta, GA, is what will be the best way for a consumer to rebuild their credit after a bankruptcy filing. Obviously the bankruptcy will affect the credit score, but its overall effect may be minimal, as most of the damage to the […]
Filing a Joint Bankruptcy Prior to Divorce: Why it Makes Sense for Many Couples
Financial problems and marital strife often go hand-in-hand, so it is no surprise that many divorces may be a result of financial distress. However, the financial distress may linger long after the divorce, and prevent closure for the former married couple as they independently struggle on reduced income and increased expenses. While it may seem […]