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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.
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.
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
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
If you are struggling under debts you can’t pay, you may be considering bankruptcy. Most consumers will use either Chapter 7 or Chapter 13 bankruptcy to eliminate their debts.
In order to qualify for Chapter 7 bankruptcy, you must pass the means test. If you do not pass this test, you must look for another debt relief option.
When you’ve run into difficult times, it’s not unusual to be unable to pay a bill or have it slip by unnoticed. However, when those debts are sold to a collection agency, you may feel as though you’re in a never-ending battle of letters, increasing fees, telephone calls and similar stressful situations. However, there are limits to what a collection agency can do to collect a debt. Here are some of those limits, which can help you keep the process sane.
Bankruptcy is often confusing and emotionally scary, for it’s a detailed legal process and most people don’t fully know what the outcome of the process will be. Because bankruptcy is legally defined, however, going through a bankruptcy is manageable if you have someone on your side who’s familiar with the process.
Going through a Chapter 13 bankruptcy can be an overwhelming process, and it’s very easy to get bogged down in legal and financial terminology. However, you do have rights as you go through the process in the Georgia court system.
If you are ready to file for a divorce because of a marriage under considerable financial strain, it’s time to look at your options. In a divorce in Georgia, marital assets and debts are divided in a way that is deemed fair or equitable. For the spouse that has a much lower income, this can mean responsibility for fewer marital debts and receiving more of the assets.
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