Georgia Refirmation agreement

What is a Reaffirmation Agreement?

A reaffirmation agreement is a contract between a debtor and creditor that waives the discharge of a debt in a pending Chapter 7 bankruptcy proceeding.  The debt is one that would otherwise be discharged in the bankruptcy.  With a reaffirmation agreement, however, it is agreed by both parties that the debt will remain active.  The […]

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Filling for Bankruptcy

Filing Bankruptcy Due To Medical Bills in Georgia

If you’re considering filing bankruptcy due to medical bills in Georgia you’re not alone. According to NerdWallet Health medical bills are the number one reason why people file bankruptcy across the US. Medical bankruptcy doesn’t just affect people without medical insurance. Even people who have good insurance coverage can end up with huge medical bills […]

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Can I keep my retirement account if I file bankruptcy?

The good news is that for the most part, your 401(k) and other qualified retirement accounts are protected in bankruptcy. Traditionally, retirement accounts are almost always protected from creditors and are considered “exempt” when a bankruptcy is filed. An “exemption” in a bankruptcy just means that the asset is safe from the clutches of the […]

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Can I file Bankruptcy Twice?

If you are struggling with debt and have previously filed a bankruptcy case, you might wonder if or how long you have to wait before you can file for bankruptcy again. Great news! You can file for bankruptcy as often as you like. However, the bad news is that there are time limits on how […]

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Debtor Education Requirement in Bankruptcy

The Debtor Education Requirement in Bankruptcy

With few exceptions, all debtors are required to receive credit counseling from an approved agency before they can file for their bankruptcy. Further, debtors cannot receive a discharge unless they also complete a debtor education course (also known as a financial management course) after filing their case. Let’s examine this requirement a little more closely. After […]

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Chapter 7 Actions

There are many events that can drive a person or couple into bankruptcy, but it usually involves financial devastation and an inability to keep current on payments for necessities such as housing and food. People often find themselves not making payments on one thing, so that they can make payments on another. Most people believe […]

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Chapter 13 Actions

  A chapter 13 bankruptcy is also known as a wage earner’s plan. It enables individuals with regular income to develop a plan to repay all or part of their debts. Under this chapter, debtors propose a repayment plan to make installments to creditors over three to five years. It is possible to take actions that […]

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Benefits of Joint Filing of Bankruptcy in a Divorce

There are financial and logistical benefits that may result from a joint filing, which must be done before a divorce is finalized. This includes lower costs because the couple can be represented by one attorney and only will need to pay one bankruptcy filing fee, which may be significant based on the financial distress that […]

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Bankruptcy and Divorce

There are few things as stressful as going through a divorce, but when you couple that with a need to obtain the financial clean slate that a bankruptcy action may provide, it may prove overwhelming. There are some things to consider when deciding whether, and how, a bankruptcy action contemporaneous with a divorce may benefit […]

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How To Deal With Creditors

One of the most common events that pushes a person or couple to take the step of commencing a bankruptcy action is dealing with the harassing telephone calls of creditors and debt collection agencies. Although there are legal limits on what these individuals and companies can do to attempt to collect a debt, this does […]

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Chapter 13 Bankruptcy in Georgia

There are two common bankruptcy actions for an individual or couple who are overwhelmed by debt to pursue. One is a Chapter 7 action, where the debt is dischargeable and there is no plan to repay creditors, other than the debtors continuing to meet their obligations to secured creditors. There is an income limit for […]

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The Basic Steps of a Chapter 13 Case

The Basic Steps of a Chapter 13 Case In deciding to file for Chapter 13 protection, it is necessary to gather all relevant documents, including bills, financial statements, mortgages, loans, and outstanding tax debt. As part of the preparation, it is necessary to list all secured creditors and debt separate from unsecured debt. The individual […]

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Filing for Chapter 7 Protection in Georgia

Filing a bankruptcy action is not a step that people take lightly.  A decision often involves a careful weighing of options and a determination that a person, or couple, needs the economic clean slate that bankruptcy can provide.  Often, a traumatic life event, such as a medical emergency, divorce, or job loss, has prompted the […]

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