Category: Georgia | Chapter 13 - page 18

As a general rule, Americans don’t do delayed gratification well. We live in a youth-oriented society that moves at the speed of technology without a thought for what is going to happen tomorrow. We live, work and consume, and push away thoughts about what it might be like for us when we are older. We…

If you thought that you could not discharge income tax debt in bankruptcy, then you might be happy to be mistaken if you owe money to the IRS. You absolutely may discharge old tax debts, penalties and interest in Chapter 7 and Chapter 13 bankruptcies, as long as you qualify under a few simple IRS…

There is a simple and easy way to understand the difference between secured and unsecured debt. Secured debt is backed by some type of property, such as a car or house. Defaulting on this type of debt typically means the forfeiture of the property in question. Unsecured debt is backed simply by a promise of…

Sometimes it takes going through a financial emergency to understand the vital importance of having an emergency fund on hand. Life is expensive. Sometimes things happen that are beyond the realm of your control, such as a roof repair, a mechanical problem with your car, an out-of-town funeral or any other expense that is outside…

Bankruptcy and divorce often go hand in hand because making the transition from a single household to two separate ones is an expensive one. When a couple amasses credit card debt over the course of the marriage, it becomes the responsibility of both parties to pay it off. Unfortunately, when all of the bills have…

Bankruptcy offers debtors the chance to wipe out many forms of unsecured debt, including credit card debt. But does that mean you’ll have to give up your credit cards entirely during bankruptcy? It depends. While it is often possible to maintain a credit card to use during bankruptcy, you may decide that you don’t want…

Just like when filing taxes, married couples have a choice to file for bankruptcy jointly or separately. But if your spouse opts for bankruptcy and you don’t, what will happen to the debts you hold together? The good news is that, in most cases, your partner’s bankruptcy filing won’t significantly impact your financial situation. Perhaps…

Payday loans have always been bad news. But when cash advances are obtained online, they can be especially dangerous, according to a new survey. With a payday loan, a borrower pays a fee to take out a short-term, high-interest loan against his or her paycheck, typically for a two-week period. Problem is, by the time…

Nobody looks forward to filing for bankruptcy. But when it comes to saving your home from foreclosure, bankruptcy really can be your best friend. A recent study by the University of North Carolina concluded that homeowners in foreclosure reduced their chances of losing their homes by 70 percent when they filed for bankruptcy protection. Bankruptcy…

Contrary to common belief, student loan debt isn’t just a problem for the young. Seniors are increasingly bearing the burden of overwhelming education loans. While older debtors still make up a relatively small portion of the student debt pie, their numbers are steadily on the rise. Between 2005 and 2013, student loan debt held by…