The front page of the June 7, 2011, issue of the Wall Street Journal reports that almost forty percent of homeowners who took out second mortgages on their homes “are underwater on their loans, more than twice the rate of owners who didn’t take out such loans.” (click here to view the article). Dealing with […]
Bankruptcy Can Relieve Second Mortgage Misery Read More »
In a chapter 7 bankruptcy in Northwest Georgia, a creditor can file an objection to a discharge of their debt. The legal term for this is a complaint to determine dischargeability. The most common scenario where a creditor will file a complaint to determine whether debts will be discharged in a chapter 7 bankruptcy is credit
Bankruptcy – What Is An Objection To Discharge? Read More »
Filing bankruptcy to wipe out debt owed on timeshares can be tricky. Eliminating the mortgage owed on a timeshare in bankruptcy is not a problem. The problem is the maintenance fees which can be extremely high in some cases. I meet with clients all the time from Rome, Dalton, Calhoun, Dallas, Douglasville, Hiram and Cartersville
Bankruptcy – Wipe Out Debt Owed on Timeshares 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 »
A person cannot wipe out payroll taxes in Chapter 13 or Chapter 7. Payroll taxes are not considered property of the business. The business is considered to have held the payroll taxes in trust for the government. Failure to pay payroll taxes will be treated as a nondischargeable debt. Using payroll tax money for any
Bankruptcy – Chapter 13 and Chapter 7 – Can I Get Rid of Payroll Taxes? Read More »
You can eliminate a second mortgage in a Chapter 13. You need to get an appraisal on your property before you file the case. Your property must be worth less than what you owe on the first mortgage in order to eliminate the second mortgage in your chapter 13.
Can I Wipe Out My Second Mortgage in a Chapter 13 Bankruptcy? Read More »
The purpose of this blog is to give you a rough idea about why you must know the value of your house before you even think about filing bankruptcy in Georgia. Under Georgia Law, a single person can exempt a maximum of $10,600 of equity in their house when they are filing either Chapter 13
Filing Bankruptcy- You Must Know the Value of Your House Read More »
Taking a second mortgage out on your house to pay off credit card debt is a bad idea in most cases. In the event you need to file bankruptcy, credit card debt can be wiped out if necessary. Even in a Chapter 13 plan where you are paying back all of your debt, the interest rate
Second Mortgage On My House To Pay Off My Credit Cards? Read More »
The answer to this question depends on your situation. We can file a motion to avoid the judicial lien shortly after we file your case. The main issue is how much property do you own? I want to go over every single asset you own and make sure that they are protected by Georgia exemptions.
Filing Bankruptcy After a Default Judgment in Georgia? Read More »
No. Traffic tickets are technically criminal fines. No criminal fine can be wiped out in bankruptcy. However, in a Chapter 13, we can set up a special provision in the plan to pay the traffic tickets at 100 cents on the dollar. Paying traffic tickets is a much easier after we come up with a
Can I Wipe out Traffic Tickets in Bankruptcy? Read More »