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 […]
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 […]
AUTOMOBILE TITLE PAWNS AND BANKRUPTCY
Title pawns have become an ever-growing percentage of consumer debt, as they are marketed as a short-term “quick fix” to a budget deficit. Presumably, these loans will allow the consumer to bridge the gap until payday, at which time the loan will be paid off and title returned. Unfortunately, this is rarely the case, and […]
EVOLUTION OF DEBT IN CONSUMER BANKRUPTCY CASES OVER THE LAST 20 YEARS
Having practiced bankruptcy law in Augusta for over 20 years, I have had the opportunity to witness firsthand how consumer debt has changed during that time. While the primary causes that lead to bankruptcy have not changed significantly during that time (unemployment, divorce/separation, health issues and mismanagement), the types of debt involved in the consumer […]
A Consumer’s Post-Foreclosure Liabilities
There are various reasons that may cause a homeowner to default on their home loan. Divorce, separation or unemployment may deprive a consumer of the income necessary to service the home loan, which will eventually lead to the foreclosure of the residence. In some cases the homeowner may try unsuccessfully to save the house through […]
Debt Collection Statistics Released: Common Reasons for Debts to Go into Collection
A recent study concluded that one out of every three adult Americans has at least one debt that has been turned over for collection. However, Georgia had one of the highest rates, with 40% of its adult residents having at least one collection account. Other blogs on this site have discussed how to handle collection […]