By Jeff Field | Published February 28, 2023 | Posted in Bankruptcy | Tagged Tags: Chapter 13 bankruptcy, chapter 7 bankruptcy | Leave a comment
If you are contemplating bankruptcy, you’re probably wondering how much it costs. You’re probably worried about how you’ll be able to pay for an attorney, too. Bankruptcy costs in Georgia are actually quite affordable and legal fees can usually be managed if the attorney is reasonable. Court filing fees are among the initial costs of Read More
Read MoreOne of the common myths about bankruptcy is that it permanently ruins your credit. But the opposite is true for Chapter 13. While this type of bankruptcy appears on your credit report for seven years after the date of filing, it can serve as a springboard for rebuilding your credit. In fact, you can start Read More
Read MoreTo qualify for Chapter 7 bankruptcy, most people must pass the means test, which looks at their income, expenses and family size to determine if they have any disposable income that could be used to repay debts. Passing the means test often requires making optimal use of allowable expense deductions. The first step in the Read More
Read MoreWhen your wages, bank accounts and other funds you use for essential expenses are seized to pay overdue debt, the results can be devastating. For example, a wage or bank garnishment may leave you without enough money for your car payment. If the car is then repossessed and you are without transportation, you risk losing Read More
Read MoreThe myth that you lose everything if you file for bankruptcy is exactly that, a myth. In reality, bankruptcy filers in Georgia usually get to keep most or all of their important items by declaring them exempt from creditors under state law. If an item qualifies for an exemption, the item cannot be taken by Read More
Read MoreIf you’re contemplating filing for bankruptcy, you may be worried that it will be a hard process that takes a long time to get through. As experienced Georgia bankruptcy lawyers, we’re here to tell you there is no reason to panic. Yes, bankruptcy can be a complex process, but you have the ability to do Read More
Read MoreSome bankruptcy filers attempt to shield some of their assets by transferring them to other people. They give away assets or sell them at nominal prices to family members, or friends. Unfortunately, moving assets around shortly before filing for bankruptcy can be deemed fraudulent transfers or fraudulent conveyances. They can be discovered and undone by Read More
Read MoreIn a Chapter 13 Bankruptcy, also known as reorganization, the debtor agrees to a court-approved plan to repay a portion of his or her outstanding debts. Eligible creditors are paid specified amounts over the life of the plan, which is three to five years. However, in devising Chapter 13 plans, there are many opportunities for Read More
Read MoreCredit card debt is one of the financial issues that can push a borrower into filing for bankruptcy. However, federal law allows a creditor to challenge discharge of a particular debt by claiming it was obtained by “false pretenses, false representation, or actual fraud.” Credit card companies have two primary strategies for raising such challenges. Read More
Read MoreMarried couples often file joint bankruptcy petitions. In many cases it makes perfect sense for both spouses to liquidate (Chapter 7 bankruptcy) or reorganize (Chapter 13 bankruptcy) their debts. However, it is possible for only one spouse to declare bankruptcy and under certain circumstances, it is in the couple’s best interests to do so. One Read More
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