The New Bankruptcy Forms: Are They More Helpful for Pro Se filers?
Effective December 1, 2015, the Bankruptcy Courts of the United States required the use of recently revised petition and schedule forms. The petition and accompanying schedules have been lengthened considerably. The additional length is a product of the simpler language used to describe the assets, liabilities and transactions commonly disclosed in a bankruptcy filing. However, […]
Can Bankruptcy Improve My Credit Score?
It is easily understood why a bankruptcy would have a negative impact on a consumer’s credit score, but it is also important to remember why a potential lender is reviewing your credit history. The lender wants to evaluate the risk of default or non-payment. Based on the risk, the lender may decline to make the […]
Common Mistakes to Avoid When Your Income is Reduced
As a bankruptcy attorney who has met with thousands of distressed consumers in the Augusta area, I have had the opportunity to evaluate the different methods that people have used to reduce their expenses in situations where income has been temporarily eliminated or reduced. For instance, a consumer may have been laid off and the […]
Homeowner’s Association Fees & Bankruptcy
A frequent issue that arises in bankruptcy cases in Augusta, GA is the treatment of Homeowner’s Association fees (“HOA fees”) or regime fees. These fees represent an assessment against all homeowners in the association to maintain and improve common areas, such as a pool, gym or clubhouse. They may also cover road and infrastructure improvements. […]
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 […]