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What Do You Need to Do to File Bankruptcy in Georgia?
Typically, the first step in any recovery, including recovery from financial issues, is admitting there is a problem. And, many people have a serious problem in this area. 25 percent of people with money problems…
How Long Does Chapter 7 Bankruptcy Last in Athens, GA?
In as little as about nine months, Chapter 7 bankruptcy gives honest, yet unfortunate debtors a fresh start, as the Supreme Court has guaranteed so many times over the past hundred years. So, this vehicle…
How Does Chapter 13 Bankruptcy Work?
Chapter 13 Bankruptcy is also known as the wage-earner plan. Essentially, when debtors file their voluntary petitions, they are saying “I have too many debts to pay all at once and I need to start…
Who Qualifies for Chapter 7 Bankruptcy?
Most people qualify for debt elimination bankruptcy. The 2005 Bankruptcy Abuse Prevention and Consumer Protection Act introduced an additional hurdle, the means test, which is discussed below. Frankly, Congress intended the means test to dissuade…
How to File Chapter 7 Bankruptcy in Georgia
Many people who never considered bankruptcy before now see Chapter 7 as a legitimate option. That’s largely because the Supreme Court has eroded some key protections in the Fair Debt Collection Practices Act. Therefore, creditors…
What’s the Difference Between Chapter 7 and Chapter 13 Bankruptcy?
When players file bankruptcy in Monopoly, it’s the end of the game. But when debtors file bankruptcy in real life, they get a fresh start. In Monopoly, there is only one kind of debt (real…
What Does It Mean to File for Bankruptcy?
Supreme Court Justice James Clark McReynolds was one of the first legal writers to call bankruptcy a fresh start for honest yet unfortunate debtors. He worded this phrase a bit differently because he wrote it…
What Happens When You Declare Bankruptcy in Athens?
The novel coronavirus has affected our lives in many ways, and that includes bankruptcy filings. A number of retailers and other companies have already filed Chapter 11 bankruptcy. Most observers expect a significant uptick in…
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…
What is the Downside of Filing for Bankruptcy in Georgia?
Every cloud has a silver lining. Most of our bankruptcy posts focus on the silver lining of bankruptcy. But this one focuses on the cloud. Unfortunately, to use another metaphor, some people make a mountain…