By Jeff Field | Published September 5, 2023 | | |
Bankruptcy provides a fresh financial start for people faced with insurmountable debt. Although the bankruptcy trustee has authority to seize and sell the debtor’s assets to pay off creditors, there are federal and state laws that allow debtors to keep certain property or its equivalent value. These are called exemptions, and one of the most Read MoreRead More
When someone files for a bankruptcy in Georgia, the court will appoint a trustee who has the power to gather up the debtor’s assets, liquidate them and use the proceeds to partially pay off creditors. However, under state and federal laws, certain property is exempt from the bankruptcy process up to a certain dollar amount Read MoreRead More
Many people fear going into bankruptcy because they believe that they will lose everything they own and be out on the street relying on the charity of strangers. It isn’t that bad. It is important to remember that the purpose of a bankruptcy proceeding is to help you wipe the slate clean and move forward Read MoreRead More
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