By Jeff Field | Published August 15, 2022 | Posted in Bankruptcy, Chapter 7 | Tagged Tags: bankruptcy, joint debts, liquidate, reorganization | Leave a comment
Married 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 MoreRead More
Overdue taxes can be a huge burden for people who are trying to cope with other mounting debt. If you are considering bankruptcy, you may be able to be relieved of some or all of your tax debt, depending upon how long it has been owed. While current tax debt is generally nondischargeable, meaning that Read MoreRead More
Chapter 7 bankruptcy can offer you a fresh start by relieving you of the financial obligations you had to your creditors. Although most of your non-exempt property is liquidated during the process to pay off your debt, there may be some property you want to keep, such as real estate or a vehicle. Consequently, there Read MoreRead More
Foreclosure of your family home can be devastating. If you’re struggling to keep up with mortgage payments or the lender sent you a foreclosure notice, you may be able to save your home by filing a petition for Chapter 13 bankruptcy. Critically, once a Chapter 13 petition has been filed, an automatic stay goes into Read MoreRead More
In order to file for bankruptcy protection under Chapter 7, you must be able to show that your average monthly income for the six months prior to your bankruptcy filing is below the median income for a household of your size in your state. This is because Chapter 7 bankruptcy is meant for people with Read MoreRead More
Millions of Americans have been left unemployed as companies close their doors or reduce operations due to the coronavirus pandemic. While protecting public health and saving lives remain the utmost priorities, this is cold comfort for people struggling to meet their living expenses without an income. However, there are legal remedies that you can turn Read MoreRead More
This is a very common question in many bankruptcy cases. Whether you were in a car accident or had an unexpected health emergency, if your insurance provider does not cover the entire medical care process, you are left “on the hook” for these bills. Medical bills are dischargeable in bankruptcy, even medical bills associated with Read MoreRead More
Where Can I File for Bankruptcy in Georgia and What Law Applies? Where you file depends on where you live in Georgia and how long you have lived there. Georgia has three bankruptcy districts. Those three districts have a total of fifteen divisions in which bankruptcy courts are located. Northern District: Atlanta, Gainesville, Newnan, Rome Read MoreRead More
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