Category: Georgia | Chapter 13 - page 19

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…

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…