By Jeff Field | Published May 30, 2023 | | |
Unpaid medical bills are among the most common types of debt for which people seek bankruptcy protection. Major medical debt accounts for 40 percent of bankruptcies. Such debt often results from a serious illness or health condition that requires hospitalization, surgery and/or other care. The costs can easily amount to tens of thousands of dollars, Read MoreRead More
Until just two years ago, small businesses that ran into financial trouble couldn’t find much protection in the bankruptcy system. Reorganization under Chapter 11 was too expensive and filing for Chapter 7 would mean going out of business. Fortunately, today there is another, more useful bankruptcy option known as Subchapter V — a slimmed-down version Read MoreRead More
For individual debtors, Chapter 7 and Chapter 13 are the most common personal bankruptcy filings in Georgia and likely in every other state as well. Both types have certain eligibility requirements, and in some cases, people may not qualify for either. Chapter 7 eligibility requires petitioners to pass a means test that considers their income Read MoreRead More
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