Overcoming Pride to File Bankruptcy. “I should have done this years ago but my pride would not let me” said a client recently.
Eventually, after the debt grew so large that creditors started filing garnishment actions, she finally pulled the trigger. After she signed the court papers with me, she said, “I feel like such burden has been taken off my shoulders.” Why do so many people wait longer than they should to file bankruptcy? I believe that the answer to this question is one word........pride. Using Bankruptcy to Bounce Back from Covid-19. Do you remember where you were when you first realized that Covid-19 was going to alter the course of your entire life?
I remember the restaurant. I remember the smells. Why student loans be dischargeable in bankruptcy? I believe that it is past time to end the economic slavery of millions of citizens of our country and make student loans dischargeable in bankruptcy just like they were prior to 1998.
Can you imagine the nightmare of living with a $200,000 debt that just hangs over your head and increases with interest every single year? For many Americans, this nightmare is their daily reality. Want to finance a house? Want to finance a car? How about getting a loan to start a new business? Will I Lose My Car in Chapter 7 Bankruptcy? The Georgia Auto Exemption. Many debtors who want to file bankruptcy worry about the same issue: Can I lose my car in a Chapter 7 bankruptcy?
Most debtors incorrectly assume that their vehicles are automatically safe in a bankruptcy. Unfortunately, that is not the case. All debtors should ensure that they take the proper precautions before filing and inquire about whether they will be able to keep their car. When filing bankruptcy, debtors are required to list all assets and property owned. One of the most commonly seized items in a Chapter 7 bankruptcy are motor vehicles. . — Their values are easy to discover. . — They normally have a higher monetary value than most other personal property owned by the debtor –They are easy to sell or auction off in a fairly expedient manner As a result, any debtor filing bankruptcy should either consult an attorney or understand the law well enough to know whether their car will be safe. Exemptions Every state has different exemptions. Buyback Payments Car Payments Co-Owned Car. How to protect yourself from theft in Chapter 13 with ndc.org. Every active Chapter 13 bankruptcy debtor should open an account with ndc.org.
The cost is free but the information you see could be worth a lot of money to you and save you from theft. Having an account with ndc.org will allow you to see every single proof of claim that has been filed in your bankruptcy case and it will also allow you to verify that your Chapter 13 payments are being received by the trustee. Years ago, I had a client whose employer took money of her paycheck but never sent it the trustee. We caught the error and had to sue the employer to get the money paid. Having an account with ndc.org allows you to catch stuff like this. Don't get hit by the tidal wave of creditor lawsuits. It is no secret that a tidal wave of bankruptcies are coming down the pipe soon.
Over 40 million Americans have lost their jobs at some point during this Covid-19 government forced shutdown of our economy. For almost five months, creditors in Georgia have not been able to get orders on the collection lawsuits they have filed. This lack of enforcement has created a false sense of security for a lot of people. This false sense of security is about to get blown away once courts are allowed to operate at full capacity in mid-July. Questions You Ask Before Hiring a Bankruptcy Attorney. There are some important questions every consumer should ask before hiring a bankruptcy attorney.
Hiring the right attorney will ensure that you get the best fresh start possible after completing your case. Since I have been a Consumer Bankruptcy Attorney in Georgia for over 22 years, I think I can offer you some advice on this topic: Do I qualify for bankruptcy? Do I qualify for bankruptcy?
The short answer is that almost everyone qualifies for some type of bankruptcy relief. In answering this question, it important to understand the different types of bankruptcy. What is Chapter 7? Chapter 7 is where you typically eliminate of your debts. Many people like to refer to Chapter 7 as the “fresh start” provision of the bankruptcy code. How Chapter 13 Can Save Your Home from Covid-19 Fallout. As of the date of this writing, over 40 million Americans are unemployed due to no fault of their own.
This coronavirus pandemic has hit us all with vicious power. Corona has caused millions of Americans to fall behind on their mortgage payments. The good news is that many people will be able to use Chapter 13 bankruptcy to recover from this economic crisis and stop the foreclosure of their home. Can I buy car while I am in Chapter 13 bankruptcy? Buying a car while you are in an active Chapter 13 is possible but it is also extremely difficult.
Most lenders are not willing to go through the process of waiting for the court to approve a post-petition car loan. Finding a lender who is willing to work with you while you are in an active Chapter 13 is the biggest challenge. Jeff Kelly Law Offices. Costs of Filing Bankruptcy Chapter 7 or Chapter 13 - Jeffrey Kelly. Bankruptcy in Time of COVID-19.
During times when we are doing our best to flatten the curve of a novel pandemic, it’s important to practice social distancing. Unfortunately, for many who might be looking at the prospect of filing for bankruptcy, this creates a unique problem. In the state of Georgia, filing for Bankruptcy was something that is only done in person. As we take more and more time away from public spaces, in-person filing and signing is nearly impossible to achieve. This is because the documents themselves needed to be signed in person. Luckily, recent developments show that the State has thought of these concerns and is acting accordingly. Remote Filing is Now Possible Georgia wants to help make it a little easier for everyone to do the right thing and remain at home.
Unfortunately, there are necessary meetings, such as the 341 Meeting of Creditors, that still lack clearance to take place in a remote setting. Chapter 7 vs Chapter 13. Law Office of Jeffrey B. Kelly. How to File Chapter 7 In Georgia. If you find yourself in an overwhelming amount of debt, bankruptcy may be the best option available to you. Chapter 7 is one of the most common types of bankruptcy filing and will eliminate debt and give you what is considered a “fresh start”. The assets that you hold will be collected by a trustee and liquidated to pay off your loans.
However, Georgia exempts some assets from sale and in some cases, individuals can keep most of their assets. Free Yourself From Financial Bondage. Many people like to refer to Chapter 13 as the “catch your breath provision” of the bankruptcy code. When creditors are coming down on you all at once demanding full payment today, Chapter 13 allows you step back, catch breath, and pay them back over a reasonable period of time.
In contrast to Chapter 13, Chapter 7 enables you to eliminate all of your credit card, medical, or other unsecured debts so that you can get a fresh start. The economy is finally getting better and now is a great time for you to get back on your feet. This is the perfect time to free yourself from the debts that have been holding you back.