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How Long After Bankruptcy Can You Buy a House in Athens, GA?
Rules vary among different lenders. Government-backed loans, like VA loans, usually have shorter waiting periods. Generally, you must wait between two and four years after Chapter 7 Bankruptcy and one and four years after a…
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…
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…
What 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…
Should I File Bankruptcy?
For many distressed debtors, bankruptcy is an absolute last resort after they exhaust all other options. That’s technically true. However, since the Supreme Court recently struck some key consumer protections from the Fair Debt Collection…