In Schwab v. Reilly, the Supreme Court has ruled that bankruptcy debtors are protected only up the value they claim exempt in their bankruptcy petitions. A divided Supreme Court ruled that bankruptcy debtors do not exempt the full amount of an asset by claiming an exemption equal to the full scheduled value of the asset. […]
Supreme Court: Exemptions Protect You Only Up To The Value You Claim Read More »
The reason the credit card scam letter you received in the mail sounds too good to be true is because it is too good to be true. The letter falsely states that is is a “Balance Reduction Notification.” The truth is there is no government funded program that will pay for your credit card debt.
Credit Card Scam – Sounds Too Good To Be True? Read More »
Anyone who owns a life estate can file bankruptcy. However, there is a risk of losing the ownership of the life estate when you file Chapter 7 if the life estate is worth more than you are allowed to exempt in Georgia. In contrast, you may be able to protect the life estate in a
Bankruptcy – Can I File If I Own a Life Estate? Read More »
The cash exemption is often a major consideration for Georgia consumers who are considering filing for bankruptcy. Especially during tax refund season, I often have clients who will ask, “How much of the cash in my bank account can I keep if I file bankruptcy?” In Georgia bankruptcy cases, the answer to this question is
Cash Exemption in Georgia Bankruptcy Cases Read More »
When I meet with potential clients from the North Georgia area, one of the first questions I usually get between January and April is, “Can I keep my tax refund if I file bankruptcy?” For some, the answer is yes, and for others, the answer is no. Most people have plans for how they
Bankruptcy – Can I Keep My Tax Refund If I File? Read More »
I have friends who buy into this myth that people who file bankruptcy go out and run up their credit cards right before filing. The truth is that almost no one does this and those few that do end up paying it all back. In a Chapter 7 bankruptcy, you cannot incur debt with the
Bankruptcy – Can’t Incur Debt with the Intent of Discharging it Read More »
Yes, you can file a Chapter 13 bankruptcy in Georgia even if you are unemployed as long as you are receiving unemployment income. If you have zero income, you obviously won’t be able to file a Chapter 13 bankruptcy. A great place to search for jobs for free in the Northwest Georgia area is craigslist.
Chapter 13 Bankruptcy- Can I File in Georgia If I am Unemployed? Read More »
After Bankruptcy, many clients wonder how fast they will have to move out of the house in cases where it is the intention of the debtor to surrender the house. In the Northwest Georgia area, it can be difficult to find the right place to rent. No one wants to rush out and sign a
After Bankruptcy – When Do I Have To Move Out of My House? Read More »
Bankruptcy often follows divorce. I recently met with a bankruptcy client in my Rome GA office who went through a nasty divorce proceeding about two years ago. The judge in the divorce case ordered my client to sign his interest in a house with equity over to his now ex-wife. His ex-wife and his four
Bankruptcy and Divorce Orders Read More »
A Motion for Relief from the automatic stay is basically a request from a creditor to the Bankruptcy Court for permission to take back collateral. Motions for Relief are set down for hearings before the Bankruptcy Court. In Northwest Georgia, these hearings are held at the Federal Building in downtown Rome GA. Debtors and their
What is a Motion for Relief from Automatic Stay in Bankruptcy? Read More »