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What Are the Benefits of Declaring Bankruptcy in Georgia?
The modern world is built on debt. Few people today live by using cash or even debit cards. Credit cards make it possible to pay for the things we need while earning “perks”. Cars are…
Can All of My Debts Be Written Off by Bankruptcy in Georgia?
Debt – it’s one of the few things that most Americans have in common. In addition, the debt burden that most of us carry is increasing. We are rapidly approaching all-time highs for consumer debt…
Which Is Better Chapter 7 or Chapter 13 in Georgia?
A number of factors go into deciding which is better Chapter 7 or Chapter 13 bankruptcy. The type of debt is, by far, the most important factor. When unsecured debts are the disease, Chapter 7…
The differences between Chapter 7 and Chapter 13 bankruptcy for Georgia filers
Dealing with financial stress on a long-term basis takes its toll. Filing for a Georgia bankruptcy may be an excellent option for those facing constant financial pressures. Unfortunately, the term “bankruptcy” has a negative connotation,…
What 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…
Chapter 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,…
Bankruptcies 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…
Can student loans be discharged in bankruptcy?
The spotlight on student loan defaults has grown brighter the past five years, yet the ever-growing student loan crisis crippling the financial futures of many students in college and beyond has yet to be solved…
Do I have to file a joint bankruptcy with my spouse?
It is no secret married couples do a lot of things together, such as raise children and pay taxes. Something else they can do as a unit, but do not have to, is file a…
Exemptions allow debtors to keep assets despite filing bankruptcy
There is no question filing personal bankruptcy is daunting. Understandably, debtors have a multitude of questions, such as how filing might impact their credit score, what happens to the debts included in bankruptcy paperwork and…
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