Filing for bankruptcy often requires significant financial adjustments to an individual’s or family’s budget. Many people focus on cutting expenses and rebuilding financial stability in order to make the most out of their bankruptcy process. These are often wise...
If you have medical fees, are late on bills, have recently lost your job or have maxed out credit cards, then you could be facing serious debt. Debt collectors will try to reach out to collect on your financial obligations. However, you may not have the money to pay...
If you file for Chapter 13 bankruptcy, your debt is consolidated into a repayment plan. This is different from Chapter 7, where you have to liquidate non-exempt assets. With Chapter 13, the goal is to pay off the debt over time, making it affordable based on your...
Not everyone qualifies for a Chapter 7 bankruptcy filing. To be eligible, people must first pass the means test. They compare their income to the current federal median income for their state and household size. The means testing process determines who is eligible for...
Filing for bankruptcy can feel like you are giving up everything you worked hard to build. But that is not necessarily true. In fact, Georgia law provides specific exemptions to protect certain assets from creditors. This is why understanding how it works can help you...
People are often reluctant to file for bankruptcy because they fear losing everything they own. One specific area of concern is retirement accounts. After years of contributions, the thought of losing those funds can be frightening. In many cases, retirement accounts...
If you begin to fall behind on mortgage payments, it can feel like time is running out to save your home. Many homeowners facing foreclosure are also dealing with job loss, medical bills or other financial setbacks that can make it difficult to catch up. For some...
In many cases, married couples can and do file for joint bankruptcy. They are not obligated to do so, as it is possible for one spouse to file on their own. But filing together is very common, and there are some benefits to doing so. For example, the filing fee for a...
One of the best elements of a Chapter 13 bankruptcy is a filer’s ability to negotiate with creditors. In addition to working out a repayment plan that may reduce monthly obligations to unsecured creditors, filers are also in a position to seek modifications from the...
Joint Chapter 7 bankruptcy allows a married couple to file for bankruptcy together to discharge qualifying debts instead of filing separately. When you file jointly, you combine your finances, debts and assets into one case. This allows you to approach your financial...