Bankruptcy Info

Life after bankruptcy is not easy. You have a fresh start, but you also have a lot of repair work to do with your credit, which has most likely taken a huge hit during the process. The good news here is that there are ways to bounce back after bankruptcy. While filing bankruptcy clears you of any obligation to pay past debts, it also leaves a mark that will be on your credit report for up to ten years.  You can recover and start working on rebuilding your credit immediately after your bankruptcy is discharged and get back on track so [...]

Filing bankruptcy is a relatively common -- and complex -- practice. In fact, according to the U.S. Courts website, nearly 13 million consumer bankruptcy cases were filed during a 12-year period spanning 2005 through 2017. Sixty-eight percent -- which is equivalent to 8.7 million -- of these were for Chapter 7 bankruptcy while 32 percent -- or 4.1 million -- were petitions for Chapter 13 bankruptcy. Nearly all of these filings were for consumer debt. 5 Bankruptcy Misconceptions Individuals Should Know Not surprisingly, there are a number of bankruptcy myths swirling around. These can make the process even more confusing than [...]

People who are considering bankruptcy are generally trying to hold on to as much money as possible. When you are dealing with overwhelming financial problems, the last thing you probably want to do is pay costly lawyer fees to help with your bankruptcy case. While you always have the right to file on your own and without legal representation, there are numerous benefits to hiring a bankruptcy lawyer. In addition, many bankruptcy lawyers do not charge extravagant hourly fees, and you should be well-aware of their fees before you ever sign an agreement. Benefits of Working with a Bankruptcy Lawyer In [...]

Common Types of Bankruptcies in Georgia In 2019, just over 2,000 bankruptcies have been filed each month in Georgia. This number does not include debtors who reopened bankruptcy cases. Although bankruptcy is a relatively common occurrence, it can be terrifying when you feel your own debts piling up and realize that you may join the ranks of those filing for bankruptcy. If, after consulting with an experienced attorney, you determine that bankruptcy is your best option, you will have some decisions to make. Continue reading to learn more about the most common types of bankruptcies and which is right for your [...]

The Basics of Child Support and Chapter 13 Bankruptcy If you are considering bankruptcy, you are likely struggling to meet your financial obligations. When your financial troubles include child support or alimony on top of mounting bills and debts, you may feel stressed and overwhelmed. Simply not paying child support can land you in legal trouble, so it is not the best option. Bankruptcy can seem like the answer to your financial problems, but you should be certain that you know exactly what you will and will not achieve by filing bankruptcy before you proceed. Continue reading to learn about child [...]

Understanding the Automatic Stay Option When medical bills, credit card debts, and other financial burdens have become overwhelming, you may be considering bankruptcy. If you are afraid that filing bankruptcy will mean that you lose your car, home, or other property, you’ll be happy to learn that there are numerous protections in place for consumers who file for bankruptcy. One of which is the automatic stay option. Consumer Protection in Bankruptcy Georgia law allows consumers filing for bankruptcy to claim exemptions for certain property, but this may not be enough to protect all of your property. Thankfully, federal law grants those [...]