Posts by Lee Paulk Morgan
How Often Can You File Bankruptcy in Athens?
Many people have this question. About a fifth of all bankruptcy debtors in Georgia have filed at least once before. Technically, the Bankruptcy Code does not limit the number of subsequent filings. But the automatic…
Read MoreWhat Are the Advantages of Filing Bankruptcy in Georgia?
Bankruptcy in Georgia has come a long way since the first federal bankruptcy act in 1800. Back then, there were no advantages to filing bankruptcy. In fact, creditors could file involuntary petitions and force people…
Read MoreHow Does Bankruptcy Work in Georgia?
Congress has revised the Bankruptcy Code several times, most recently in 2005. Despite all these revisions, bankruptcy procedure has not changed much since the 1898 Nelson Act. Most Georgia bankruptcies follow the same basic procedural…
Read MoreHow Long Does Bankruptcy Stay on Your Credit Report in Georgia?
By the book, bankruptcy filings generally remain on credit reports for seven years (Chapter 13) or ten years (Chapter 7). These time periods sometimes prevent people from filing necessary bankruptcies. But there is more to…
Read MoreWhat is Chapter 13 Bankruptcy?
Chapter 13 gives distressed debtors up to five years to catch up on past-due home mortgage payments. The same thing applies to other secured debt delinquency, such as vehicle loans. Other options are available as…
Read MoreHow secured credit cards can help you build your credit
In the personal finance world, the words “credit card” often carry a negative connotation. Indeed, credit card debt is one of the top-cited reasons why people file for bankruptcy. Still, credit cards can actually be…
Read MoreWhat is a “cram down” and how can it help Georgia bankruptcy filers?
In Georgia, there are two different kinds of bankruptcies for individual filers. In a Chapter 7 “liquidation” bankruptcy, the court appoints a trustee who will oversee the sale of the filer’s assets. The proceeds of…
Read MoreChapter 11 bankruptcies are up 63 percent
Chapter 11 bankruptcies occur when companies file for bankruptcy in order to protect themselves from creditors and to restructure their debt into something more manageable. This process is overseen by a Federal bankruptcy judge. Usually,…
Read MoreToys “R” Us not going bankrupt after all
In the early summer of 2018, one of the largest and most iconic toy stores shocked the world by closing almost all of its 800 stores. Toys R Us was already in Chapter 11 bankruptcy…
Read MoreBankruptcies soar among the elderly
A 2018 study has shown that bankruptcies among the elderly have increased over the last several years at a significant rate. From 1991 to 2016, the study indicated that bankruptcies of people 65 and older…
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