Chapter 13 bankruptcy and tax refunds can be a tricky issue in Georgia. I recently received a call from a Dallas GA bankruptcy client who is near the end of his case but has never paid any of his tax refunds to the Chapter 13 Trustee as required by his specific plan. In Chapter 13 […]
Chapter 13 Bankruptcy And The Problem With Tax Refunds in Georgia Read More »
The Wall Street Journal reports that “GMAC Home Mortgage, Inc. a unit of Ally Financial Inc., J.P. Morgan Chase & Co.’s home loan unit and Bank of America Corp. have taken the unusual step of suspending tens of thousands of foreclosures in the 23 U.S. states that handle foreclosures through the court system, including New
Some Banks Call Off Foreclosure in Some States Read More »
Who is going to know if I file bankruptcy? I get this question a lot. This past Friday, I was asked this question by a client in my Dalton, Georgia office. When you meet with me, I promise to give you the cold hard truth. Unfortunately, the cold hard truth is that filing bankruptcy is
Who Will Find Out If I File Bankruptcy in Georgia? Read More »
The Chapter 7 trustee can file a lawsuit to go after game show winnings of bankruptcy debtor Kathy Cox. This past week, I received a phone call from a Hiram Georgia client asking for my opinion about this situation they read about in the newspaper. While Kathy Cox was the Georgia State Superintendent of Schools,
Chapter 7 Trustee Can Go After Kathy Cox for Game Show Winnings Read More »
The credit card company will begin their collection efforts against you when you stop paying your monthly bill. Many of the bankruptcy clients I meet with in Northwest Georgia will stop paying their credit card bills as soon as they make the decision to file for bankruptcy. Why should you keep depriving yourself of necessities
What Will The Credit Card Company Do To Me When I Stop Paying? Read More »
When facing a possible foreclosure in Georgia, what should you do when you owe more money on your house than its worth? I get this question a lot. Just this past week, I met with a couple in my Rome GA office who asked this question. In their case, the house was their only debt
Facing Foreclosure With A House That Is Underwater in Georgia Read More »
Cosigning loans for his children may stop Nathan Deal from becoming Governor of Georgia. The Atlanta Journal has reported extensively on this mess over the last two weeks. Here is how Nathan Deal wrecked his personal finances. His daughter and son-in-law had a dream of opening a store called Wilder Outdoor Inc. The problem with
Will the Cosigned Loans Stop Deal from becoming Governor of Georgia? Read More »
In some Chapter 7 bankruptcy cases, a section 722 redemption might be a good idea. Section 722 of the Bankruptcy Code allows a debtor to redeem collateral (like a car) for the amount of the secured claim. Section 722 states, ” An individual debtor may, whether or not the debtor has waived the right to
Chapter 7 Bankruptcy – What Is A 722 Redemption? Read More »
In some Chapter 13 cases, the IRS can sink the entire case. I recently had a client from Dalton, Georgia who owed the Internal Revenue a significant amount of nondischargeable payroll taxes but had worked out a long term payment plan. Their pre-bankruptcy plan with the IRS was to pay the debt in installments over
Bankruptcy – Can the IRS Sink My Chapter 13? Read More »
In a Chapter 7 bankruptcy, it is sometimes a bad idea to reaffirm certain types of debts. Reaffirm means you re-obligate yourself on the debt. Or in other words, you legally agree to treat the debt as if you have never filed Chapter 7 bankruptcy against it. For example, lets you bought a car from
Chapter 7 Bankruptcy – When is it a Bad Idea to Reaffirm A Debt? Read More »