Category: Georgia | Chapter 13 - page 19

Are Americans addicted to debt? A recent story in USA Today suggests that the answer is unequivocally yes. More than one in three U.S. consumers currently has a debt in collections, according to the article. As of 2013, the average American carried $38,000 in mortgage debt and almost $16,000 in non-mortgage debts such as credit…

One of the greatest advantages of filing for Atlanta bankruptcy is the power of bankruptcy to stop creditor harassment. From the moment you file, bankruptcy protects you from creditors and bill collectors with a legal action called the automatic stay. Under the Fair Debt Collection Practices Act, creditors are legally required to cease all collection…

Listing all of your liabilities on the creditor mailing list is one of the most important requirements when filing for an Atlanta Georgia bankruptcy. Failing to disclose a creditor can cause major problems with your bankruptcy case. But accidents happen, and the good news is that it’s possible to correct a simple oversight, provided that…

What started as a tidal wave of foreclosures is slowing to a steady stream. But that doesn’t mean the foreclosure crisis is over. Just because fewer homes are being foreclosed upon doesn’t mean more people are paying the mortgage. It simply means that more people have already lost their homes to foreclosure – and now…

What do you think of when you hear that a debt has been charged off? If you’re like most folks, you may think it means the debt is gone for good. And it is gone – just not from you. Charged-off debt is really just a tricky accounting term. When debts or assets are “charged…

The Federal Housing Administration (FHA)’s new “Back to Work” lending plan shortens the waiting time required to secure a mortgage after bankruptcy or foreclosure to 12 months. FHA mortgages have always been a great option for first-time or lower-income borrowers because they require only a 3.5 percent down payment. In the past, borrowers had to…

There are advantages and disadvantages to filing jointly with your spouse. A skilled Atlanta, GA bankruptcy attorney can help you which path best suits your financial circumstances. In a joint bankruptcy, both spouses file one set of papers providing information on all of the property, debt, income and expenses that you share in common as well…

When you file for bankruptcy, you need quick relief. That is why it is important not to make any errors in your application that might delay, or worse, reject, your filing. Ensure smooth sailing for your bankruptcy process by working with an experienced bankruptcy attorney to avoid these common filing mistakes and omissions: Not passing…

In this difficult economic climate, millions of Americans are facing foreclosure. Chapter 7 and Chapter 13 have helped many people stay in their homes. A qualified and experienced Atlanta, GA bankruptcy attorney can review your income and debt and help you develop a sound bankruptcy strategy for keeping your home. Under Chapter 7, a bankruptcy…

As you plan for bankruptcy, it is important to understand the difference between secured and unsecured debt. A knowledgeable Atlanta, GA bankruptcy attorney can help you make informed decisions about how to prioritize your debts. Collateral — something you pledge as security for repayment of a loan — is not required for unsecured debt, like…