POTENTIAL BANKRUPTCY CLIENT PRIVACY PROTECTION
Most bankruptcy attorneys offer a free consultation, and during that consultation they will have the opportunity to review financial documents of the potential client. This usually will include tax returns, pay stubs, bills and bank statements. More complex cases may also require additional information like court judgments, divorce decrees, insurance policies and appraisals. Because the […]
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 […]
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 […]
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 […]
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 […]
Signs That Your Small Business Might Be Headed for Bankruptcy
A previous blog addressed the warning signs for consumers who may be headed down the road towards bankruptcy. Small business owners are traditionally more reluctant to consider bankruptcy, as their business is not just a source of income, but usually represents a considerable investment in personal time, money and resources. As a result, small […]
COMMONS REASONS WHY YOU MAY HAVE RECEIVED A BANKRUPTCY NOTICE
When a bankruptcy case is filed, the Clerk of Bankruptcy Court mails a notice of commencement to the Debtor (bankrupt), the Debtor’s attorney, the creditors of the Debtor, as well as other “parties in interest”. With the proliferation of corporate bankruptcies, and expected increase in the number of municipal bankruptcy filings, it will not be […]