Category: Georgia | Chapter 13 - page 16

If you’ve fallen behind on credit card or loan payments, you may be curious about the direct mail advertisements you’ve been getting from companies calling themselves “debt resolution services.” They promise to help you settle your debt for significantly less than you owe. It sounds great until you find out you have to pay them…

It’s a moment that can be terrifying: you collect your mail and see a certified letter from a law firm. You open it and learn you’re being sued for the money you owe on your credit card. Now what? You’ve never been sued before. You can’t even remember going into a courthouse. Can you handle…

In February, Wells Fargo & Co., the world’s largest bank, agreed to settle a mortgage-lending lawsuit for $1.2 billion. That, however, isn’t even the largest penalty the bank has paid: in 2013, it paid more than $5 billion in settlements and nearly $2 billion in violations. Wells Fargo is just one of many banks fined…

Most people get a good feeling when they know they’ll be receiving a fat refund on their taxes. But is that really the best financial strategy? If you’re paying off credit cards or a high-interest loan, the answer is probably no. Imagine your tax refund is $3,200, which is about the average amount a U.S….

The Big Short, the Oscar-nominated film about the 2008 housing crisis, is an instructive, sometimes funny, and intense human drama about fraud and greed in the financial world. The film exposes the corruption that led to the near collapse of our banking system, but offers little comfort to the millions of Americans who lost their…

Donald Trump, the New York billionaire, real estate mogul and television celebrity, has been making headlines for months as a leading candidate for the Republican presidential nomination. That has prompted his many challengers to insinuate that his business record is not what it appears to be. Opponent Carly Fiorina, a former CEO whose business record…

Every state has different rules when it comes to bankruptcy. States have their own laws about which property can be kept (exempted) in a Chapter 7 bankruptcy proceeding. While many states allow you to choose between state and federal rules, Georgia limits its residents to state rules. Georgia’s bankruptcy exemptions apply to property or equity…

Falling behind on your mortgage payments can be an incredibly frightening thing. You may wonder how you will catch up, whether you will be able to keep your home or even if you might end up on the street. From the time you notice yourself falling behind on payments, you should begin to take action….

The most important factor in determining whether you qualify for Chapter 13 bankruptcy is your income. Your income must be somewhat predictable and high enough to make certain payments. Additionally, your debts must be below a certain level. You must be current on your income tax filings and you may not file if you are…

Homeowners throughout Georgia are finding themselves in difficult financial situations. If you are in danger of losing your home to foreclosure, you are probably considering every possible choice. Depending on your income, your assets and the amount of equity you have in your home, you have different options. Loan modification may seem like the easy…