Georgia Garnishment Law Might Get Axed in 2015

Earthquakes are hard to predict.  However, I think I see an earthquake coming in the collections and bankruptcy worlds.  The Georgia garnishment law might be declared unconstitutional this year. If this happens, all garnishment actions in Georgia will come to a screeching halt.  As a consequence, some small collection and loan companies will go out 

New Program Helps People Buy Homes

The Wall Street Journal reports today that Freddie Mac, Fannie Mae and their regulator provided for a “low down-payment mortgage program, which could open homeownership to thousands of cash-strapped borrowers. Here are some highlights: Borrowers could be able to get a mortgage with a down payment of as little as 3%. loans will be available 

Guarantor Liability After House is Foreclosed

Can a person who is a guarantor of a mortgage be held liable for the deficiency after after a house is foreclosed? According to a recent decision by the Georgia Court of Appeals, the answer is yes. Guarantor liability from foreclosures just took a harsh turn for guarantors in Georgia. In COMMUNITY & SOUTHERN BANK 

Are you a bad person if you file bankruptcy?

When my first daughter was just a little thing, she would say, “Noni! Noni!” whenever she did not approve of something.  I thought it was so cute.  Like many parents do, I started saying it as well. Fast forward many years later.  I still say “Noni! Noni!” and my daughter does not.  In my family 

The Tide Has Turned Against Collectors in Bankruptcy

“A deluge has swept through U.S. bankruptcy courts of late.  Consumer debt buyers – armed with hundreds of delinquent accounts purchased from creditors – are filing proofs of claim on debts deemed unenforceable under state statutes of limitations,” writes Judge Richard Goldberg in Crawford v. LVNV Funding LLC, et al (11th Circuit 7/10/14). For years, 

Bankruptcy – Why You Should Take Adavantage of a Free Consultation

Bankruptcy can be tricky.  I recently met with a potential bankruptcy client who had filed her first case on her own (also known as a pro se bankruptcy).  Like almost all pro se bankruptcy cases, it got dismissed. After she came to meet with me to discuss refiling the bankruptcy case, she was completely shocked 

Should I File Bankruptcy Over One Debt?

Every now and then, I will have a potential client that walks into my office with only one creditor problem. My frustrated potential bankruptcy client will say, “I cannot believe I am going to have to file bankruptcy because of this one nasty creditor.  Is there any other way out of this tangled mess?” Is