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Recent Blog Posts

Should You Max Out Credit Cards if You Plan on Filing for Bankruptcy Soon Anyway?

When you file for Chapter 7 bankruptcy, credit card debt is typically among the types of debt you will be able to have discharged. For some people, there is a temptation to completely max out all of their credit cards if they already know they are going to be filing for bankruptcy. The plan would… Read More »

Will a Judge Always Approve a Bankruptcy Plan?

Unfortunately, putting together a bankruptcy plan is not always as easy as writing it down and getting a judge to approve it. In some cases, the judge has the right to reject a plan, as was highlighted in a recent U.S. Supreme Court case. In the case, the Supreme Court ruled against a Massachusetts man… Read More »

Can You Keep Your Car if You File for Bankruptcy in Georgia?

Your ability to keep your vehicle while filing for Chapter 7 bankruptcy in Georgia depends on whether you are covered under the state’s motor vehicle exemption. If the equity in your vehicle falls under the car exemption amount, then the bankruptcy trustee cannot sell it to help pay off your debts. However, if the equity… Read More »

What Happens to a 401(k) When You File for Bankruptcy?

When you have worked for so many years to build up your retirement savings, the last thing you want is for creditors to come after your 401(k) account if you file for bankruptcy. . Fortunately, whether you file a Chapter 7 or Chapter 13 bankruptcy case, your 401(k) account is considered to be a protected… Read More »

Converting a Bankruptcy Proceeding from Chapter 13 to Chapter 7

If you are unable to afford your payments under a Chapter 13 bankruptcy repayment plan, you may have the ability to convert your case into Chapter 7 bankruptcy instead, unless you already received a Chapter 7 discharge at any time in the last eight years. The process of converting your case is relatively simple; however,… Read More »

Implications of the SCOTUS Ruling in Wellness International vs. Sharif

On May 26, the U.S. Supreme Court issued a ruling in Wellness International v. Sharif, a case that will have major implications for bankruptcy law throughout the nation. The court decided Article III does not prevent judges in bankruptcy cases from issuing final judgment on claims that only attempt to augment the bankruptcy estate and… Read More »

May a Same-Sex Couple Married Outside of Georgia File for Bankruptcy Together in the State?

Until recently, same-sex couples married legally outside of Georgia would not have had the right to file a joint bankruptcy petition in the state. But when the Supreme Court struck out Section III of the Defense of Marriage Act (DOMA) in June 2013, many of the barriers for married same-sex couples in bankruptcy and estate… Read More »

The Demise Of Lien-Stripping Junior Security Deeds In GA In Chapter 7

As of June 1, 2015, the good news is the long wait is over. The bad news is the U.S. Supreme Court (“the Supremes”) ruled against the lien-stripping of junior security deeds in Chapter 7 cases.  Bank of America, N.A. v. Caulkett  (June 1, 2015). In so ruling, the Court relied on the same “term-by-term” reading… Read More »

Filing for Chapter 13 Protection

Bankruptcy can be a difficult bridge to cross but the benefits of the financial freedom it provides are usually well worth the risk. Many Debtors opt for the “fresh start” that Chapter 7 bankruptcy affords. However, there are numerous situations where a Chapter 13 bankruptcy is more appropriate, or even necessary.  If a debtor is… Read More »

Valuing A Tax Lien In Chapter 13

When IRS or the Ga. Dept. of Revenue (“GDR”) file a fully secured claim in a Chapter 13 case based on a pre-petition filed tax lien, 11 U.S.C. Section 506(a) operates to limit the claim to the value that any Debtor (“D”) has in the property scheduled in Schedules A and B in the Chapter… Read More »