By Scott Riddle Posted in Bankruptcy Basics,Chapter 13,Chapter 7,Creditor Law,Debt Collection & ForeclosureYou have filed and completed your Chapter 7 or Chapter 13 Bankruptcy case, and finally received your all-important discharge. Unless you have very unusual circumstances, you did not officially reaffirm any of your debts in your case. However, now you have thought about it and you want to pay back a certain pre-petition debt that… Continue Reading
By Scott Riddle Posted in Bankruptcy Basics,Chapter 13,Chapter 7Most of the discussion in this Blog, and most other Bankruptcy websites, involve the primary benefit and goal of Bankruptcy – the discharge of debt. Many other posts are dedicated to avoiding foreclosure so you can catch up on your payments and keep your house, and this is still primarily an issue of dealing with… Continue Reading
By Scott Riddle Posted in Bankruptcy Basics,Chapter 13,Chapter 7Virtually all courts, from local city courts to the Supreme Court of the United States, charge filing fees for filing a case, filing appeals, and sometimes filing motions and other documents. These are fees that help the courts keep running, and are in addition to the fees you pay to your lawyer. Bankruptcy Courts are… Continue Reading
By Scott Riddle Posted in Bankruptcy Basics,Chapter 13,Chapter 7Short, easy answer – yes, same-sex married couples can file a joint Bankruptcy case and it is not even a disputed issue now. Bankruptcy law says a joint case can be filed “by an individual that may be a debtor under such chapter and such individual’s spouse.” As of June 2015, the United States Supreme… Continue Reading
By Scott Riddle Posted in Bankruptcy Basics,Debt Collection & ForeclosureIn Georgia, the first Tuesday of every month is “Foreclosure Day.” It is the one day a month when home lenders are able to foreclose on homes and other real estate, assuming they have met the other requirements of foreclosure such as notice to the borrowers. Not surprisingly, the busiest day for Bankruptcy filings in… Continue Reading
By Scott Riddle Posted in Bankruptcy Basics,Chapter 13The internet is a great thing, so thanks to Al Gore for inventing it. If I need to fix something around the house and run into trouble, chances are there are Youtube videos that will solve the problem. If you are considering Bankruptcy, you might start with google searches to get more information (and hopefully… Continue Reading
By Scott Riddle Posted in Bankruptcy Basics,Chapter 13,Chapter 7A couple of events made the news in the last week or so that are relevant to Bankruptcy or financial matters. In this prior post, we discussed the mostly made-up story about the man who was supposedly arrested just because he was late on his student loans. Another story that did not get as much… Continue Reading
By Scott Riddle Posted in Bankruptcy Basics,Chapter 13,Chapter 7,Debt Collection & ForeclosureHome loan modifications have been a really big deal the last few years. The reality, however, is that the number of actual successful modifications is far less than originally “promised” by politicians, lenders and others involved in the process. Tales of lost documents, months-long delays, and then denials abound. Given that, is it necessary or… Continue Reading
By Scott Riddle Posted in Bankruptcy Basics,Chapter 13,Chapter 7Maybe you have seen the words “debt relief agency” on a lawyer’s website or other marketing materials. The phrase “debt relief” has been used for many years as a substitute for the word “bankruptcy,” most likely because it sounds a little less ominous. Many years ago, a lawyer in the Atlanta area, and one of… Continue Reading
By Scott Riddle Posted in Bankruptcy Basics,Chapter 13As discussed in more detail in this post about Chapter 13 Basics and this post about Chapter 13 Plans, and Chapter 13 payments, the basic goal of Chapter 13 is to pay back some or all of your debts over a period of time. Usually, the payment period lasts from three to five years. An… Continue Reading
By Scott Riddle Posted in Bankruptcy Basics,Chapter 13,Chapter 7Georgia is not a big (legal) gambling state, other than the state sponsored Georgia Lottery, and most gambling is done on a cash basis. However, occasionally clients do come in with some gambling debts to include in their Bankruptcy case. In one case, a person made enough trips to casinos in Las Vegas that he… Continue Reading
By Scott Riddle Posted in Bankruptcy Basics,Creditor Law,Debt Collection & ForeclosureOne of the most frequently asked questions on the various debt and bankruptcy forums is whether a person is still responsible for debts their former spouse agreed to pay (or was ordered to pay) in a divorce settlement or decree. For example, a Court may divide the debts and order the husband to pay the… Continue Reading
By Scott Riddle Posted in Bankruptcy Basics,Chapter 13,Chapter 7This is another question that comes up more frequently that people might think. “I am facing financial problems, so how does it make sense for me to go out and borrow more money or use what little savings I have on an old used car???” Now…I said the question comes up frequently but the answer… Continue Reading
By Scott Riddle Posted in Bankruptcy Basics,Chapter 13,Chapter 7“Hate” may be a strong word, and it almost always is, so let’s change it to “dislike” or “disagree with” Dave Ramsey. If you do not know who Dave Ramsey is, you might not be interested in this post, but you can read his biography here. In short, he is a “financial planning guru” (my… Continue Reading
By Scott Riddle Posted in Chapter 13,Chapter 7Houses can be great long term investments, or they can drag you into Bankruptcy. They are usually your biggest investment, and your largest debt burden. Some people have a great emotional attachment to their house, as is the home in which they raised a family. As Bankruptcy lawyers, we are frequently asked by clients or… Continue Reading
By Scott Riddle Posted in Bankruptcy Basics,Chapter 13,Chapter 7,Debt Collection & ForeclosureThis question comes up fairly regularly. Is it a good idea, or totally useless, to tell your creditors that you are planning on filing for Bankruptcy, have hired a Bankruptcy lawyer, or you are going to file for Bankruptcy at some point. There is really no firm answer either way as it depends on the… Continue Reading
By Scott Riddle Posted in Creditor Law,Debt Collection & ForeclosureAlthough Debtors Prison was a reality in the United States a couple hundred years ago, and still exists in other countries, you cannot go to jail or prison, or even be lawfully arrested, merely for owing a debt. It does not matter whether it is a $100 debt to a friend or a $1 million… Continue Reading
By Scott Riddle Posted in Chapter 13,Chapter 7As we discussed in this prior post, the United States Trustee’s office will randomly audit Chapter 7 and Chapter 13 cases (as many as one in every 250 cases), and will audit other cases because there is something in the Schedules that makes that case stand out from the “average” Chapter 7 or 13 cases. … Continue Reading
By Scott Riddle Posted in Chapter 13,Chapter 7,Debt Collection & ForeclosureIf you have gone through the foreclosure process, maybe because you have decided to leave an expensive house and debt behind, and you are still living in the house, you are probably wondering how long you can stay in the house before you have to move. The answer is…it depends. Primarily, it depends on the… Continue Reading
By Scott Riddle Posted in Bankruptcy Basics,Chapter 13,Chapter 7The Bankruptcy Code has specific code sections that list the requirements to be eligible to file a Bankruptcy case. What is not included in the list of requirements is that the individual is a United States Citizen, or even in the country legally. Generally, if you have a residence or business in the United States,… Continue Reading
By Scott Riddle Posted in Bankruptcy Basics,Chapter 13,Chapter 7,Debt Collection & ForeclosureOccasionally we see loan agreement or other contracts that have a provision in them that says the borrower will not file for Bankruptcy or that the Borrower has waived their right to file for Bankruptcy. If you sign a contract with these terms, the other party may believe you are barred from filing a Bankruptcy… Continue Reading
By Scott Riddle Posted in Bankruptcy Basics,Chapter 13,Chapter 7The title of this post is probably a little inaccurate, because we all know financial problems naturally lead to stress. Maybe it should be avoid “most” or “some” of the stress. Whether one is starting a plan to pay off their debt, following a Dave Ramsey plan, or they have to consider a Bankruptcy case,… Continue Reading
By Scott Riddle Posted in Bankruptcy Basics,Chapter 13,Chapter 7If one person files a Bankruptcy case, either Chapter 7 or Chapter 13, and receives a discharge of some or all of their debt, is their non-filing spouse protected for any joint debts discharged in the case? The answer is, unfortunately, no. Only an individual who actually files their own Bankruptcy case gets the benefits… Continue Reading
