COVID-19 is causing uncertainty throughout the world as jobs are lost and people are scrambling to figure out their finances. Atlanta bankruptcy attorneys work closely with clients who have already started a bankruptcy or are in the process of determining whether it’s time to file for bankruptcy. The Coronavirus Aid, Relief, and Economic Security Act, or CARES Act, became a law on March 27, 2020, and this new law has made temporary changes to the bankruptcy code throughout the United States.
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COVID-19 has forced individuals and businesses to rethink the way tasks get done. If you are having financial difficulties as a result of COVID, you may have considered filing for Chapter 7 bankruptcy, especially if quarantined or discharged from employment through no fault of your own. The first step is knowing exactly what Chapter 7 bankruptcy is and the process to get it done.
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No matter who you are, it is probably safe to say that you have been impacted by COVID-19 in some way. While many people in Georgia worked every day on the frontline in our hospitals, grocery stores, and as emergency first responders – there were also many Georgians that lost their jobs and were left without an income during these unprecedented times.
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COVID-19 has caused significant disruptions to nearly all aspects of life, and the court system has hardly been immune. If you filed bankruptcy before the COVID-19 pandemic began or because of the pandemic, your case undoubtedly has been impacted by changes in court proceedings. For residents and businesses in Atlanta, Georgia who have filed for bankruptcy, these cases are being impacted in multiple ways.
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As the COVID-19 pandemic sweeps through the United States, it’s important to understand the impact this will have on your bankruptcy filing. Whether you are going to file for Chapter 7 bankruptcy to get rid of unsecured debt, or you want to restructure your debt, COVID-19 has resulted in temporary changes to the bankruptcy law at this time. Click here to read more »
During the height of the COVID-19 pandemic, many companies were offering financial relief to their customers. Banks and other lenders suspended mortgage payments and late fees, credit card companies allowed customers to defer their bills and even insurance companies offered reduced premiums.
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For persons who have gotten in over their head in debt, bankruptcy can offer a viable solution to get back on the road to financial health. Bankruptcy is not to be taken lightly, however. The process of undergoing bankruptcy proceedings can be complicated. And, since bankruptcy is an official legal filing, the final judgment of the court is legally binding.
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Debt not only negatively affects your finances but causes undue amounts of stress and frustration. Unless you know what to do, you may find yourself in a hole forever, constantly trying to keep up with interest payments.
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Chapter 13 bankruptcy is one of the best tools available to individuals who owe more debt than they can afford to pay. However, not all debts can be discharged in bankruptcy. When it comes to income tax debt, the specific circumstances of the debt will determine how it will be handled in your case
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Whether you are filing Chapter 7 bankruptcy or Chapter 13 bankruptcy, you are likely to hear the term “priority debts.” Before proceeding, you need to understand what this term means and how it affects your case.
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If you feel like you’re drowning in debt and you don’t see any way out, you’re not alone. In these difficult economic times, millions of people across the nation are facing the same situation. It can easily lead to feelings of despair, hopelessness, and depression. But there is a way out.
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Filing a Chapter 7 bankruptcy is a big decision that allows you to keep certain property and assets that are considered exempt. There are both federal and state laws that determine the property that has to be liquidated to pay off your debts and the property you get to keep despite the bankruptcy filing.
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Bankruptcy is a process that most people aren’t familiar with, which is why you need an attorney to guide you through the process if you must declare Chapter 7, Chapter 11 or Chapter 13. If you’re beginning the process of bankruptcy or are already in the midst of it, here are some essential questions to ask your bankruptcy attorney.
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When you are having money issues and creditors are breathing down your neck, it can be difficult to see a way out. No one wants to find themselves in this type of financial situation, but when it happens, you do have options. One of those options is bankruptcy. Bankruptcy can give you back your life and allow you start over with a clean slate.
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If you are struggling to pay mountains of debt and you don’t see a way out, bankruptcy may be the best option available to you. When you file for bankruptcy, you are given tools that help you manage or even eliminate your debts so you can begin working toward financial recovery. However, attempting to file for bankruptcy without legal guidance is not recommended. Below are some of the benefits of hiring an experienced bankruptcy attorney near Atlanta.
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If you have debts you cannot pay, you may be considering bankruptcy. Although bankruptcy can help you to dramatically reduce or even eliminate these debts, it will hurt your credit. In fact, bankruptcy can stay on your credit report for as long as ten years, and it is sure to lower your score.
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Bankruptcy is a possible solution if you get into certain financial situations. However, it’s important to understand how bankruptcy will affect your credit report. Your credit report impacts how easily you can get credit in the future as well as how much interest you will pay on money that you borrow. Here are some things you need to know about bankruptcy and your credit report. If you have any questions or want to file bankruptcy, please contact our Atlanta bankruptcy attorneys by filling out an online form or calling one of our many offices.
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Chapter 7 bankruptcy, which may also be called “liquidation,” allows you to discharge a large portion of your debt after liquidating and surrendering your non-exempt assets. However, this type of bankruptcy is not available to every debtor. In order to qualify for Chapter 7 bankruptcy, you must typically pass the bankruptcy means test. Fortunately, some debtors filing for bankruptcy may be exempt from this test.
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When you make the decision to file for bankruptcy, you will discuss whether a chapter 13 or chapter 7 bankruptcy is right for you. When you meet with your bankruptcy attorney, you will go over all of your debt, assets and your current income to determine if you meet the means test for filing a chapter 7 bankruptcy. If you were fired after filing for bankruptcy, we can guide you in the right direction.
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When overdue medical bills are coming in the mail and there is no way that the debt can be paid, it’s time to see how bankruptcy can help. If you are injured, or you accrued medical bills because of an illness, you may find yourself overwhelmed with even trying to pay the bare minimum every month to keep credit collectors at bay.
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