What Are Exempt Assets in Bankruptcy?

Many states allow bankruptcy debtors to choose between state and federal exemptions. As a general rule, the federal exemptions are more debtor-friendly than state laws. However, Georgia debtors must use the exemptions provided in Title 44 of the Georgia Code to decide exempt assets in bankruptcy. The news is not all bad, though, because the Peachtree […]

Georgia Bankruptcy Exemptions

The biggest concern Georgia debtors have when they decide to file bankruptcy is the uncertainty regarding their assets. Every state has different bankruptcy exemptions and Georgia is no exception. Georgia bankruptcy exemptions can make a big difference between keeping a beloved asset and having to possibly surrender it to the bankruptcy court. These exemptions don’t […]

Should I File Bankruptcy Chapter 7 or Chapter 13?

The most common question asked by people contemplating filing bankruptcy is, “What type of bankruptcy should I file?” The debtor has two options: Chapter 7, which results in a discharge of your debts, or Chapter 13, which is a reorganization of your debts. Issues That Help Determine if you should file bankruptcy chapter 7 or chapter […]

The Different Types of Bankruptcy

A little over a hundred years ago, Supreme Court Justice John Clark McReynolds laid out the intent and purpose of the then-new Bankruptcy Code in Williams v. U.S. Fidelity Guarantee Company (1915): “It is the purpose of the Bankrupt Act to convert the assets of the bankrupt into cash for distribution among creditors, and then […]

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