The decision to file for bankruptcy in Georgia involves plenty of considerations. One of the biggest concerns among individuals and couples who feel bankruptcy is a possible solution to their debt problem is retaining some of their assets. For instance, does bankruptcy law allow them to keep their car? Their home? Their personal belongings? As […]
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For those who wish to file for bankruptcy but wish to protect some or all of their assets, it may be critical to utilize federal and state exemptions. An exemption is a rule that allows for a debtor to maintain some property even if he or she claims to be insolvent. In simpler terms, you
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If you have defaulted on your federal student loans, child support or alimony payments, owe back taxes, or have a court-ordered judgment against you, you may lose part of your paycheck. This is known as wage garnishment, and it is permitted under Federal and state law as a way for creditors to reclaim debts. Under
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If you are experiencing financial difficulty, you may find yourself unsure what to do if a creditor tries to obtain a wage garnishment from you. A wage garnishment exemption could apply in some cases. If applicable, it can work to protect some or even all of your wages from garnishment. This happens if you take
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Car loans, mortgages, student loans, as well as other loans and expenses that you have, may make it difficult to afford necessities for a decent quality of life. Bankruptcy can be a frightening concept, but knowing what options are out there can help bring peace of mind and long-term financial success. There are many different types
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Bankruptcy is a powerful tool under federal law that lets families and individuals get back on their feet after dealing with debt. Many people assume that, in order to get this fresh start, they need to give up everything they own, down to the last penny. Fortunately, this is not true. While bankruptcy is governed
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As part of an ongoing trend, revenue-strapped Lawrenceville announced that it would seize income tax returns to satisfy delinquent accounts. Under the Tax Return Intercept Program, participating local governments essentially place a lien on certain tax returns. Taxpayers in these situations should receive a notice letter that gives them thirty days to successfully challenge the
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Contrary to popular myth, bankruptcy debtors do not automatically lose their non-exempt assets, even in Chapter 7 liquidations. The trustee (a court-appointed bureaucrat who oversees the case on behalf of the judge) is under no duty to perform such random seizures. Instead, the bankruptcy trustee must examine non-exempt assets and determine if it is worthwhile
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Clients often ask me why they should pay for an attorney if all of the bankruptcy forms are available online for free. The most important reason, especially in Chapter 7, is that a good bankruptcy attorney will fight for you and help you protect your assets. The rules about which assets are protected in a
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When a person files for bankruptcy, what will happen to their guns? In Northwest Georgia, guns are a treasured commodity and part of a favored pastime. People are so crazy about guns around here that Wal-mart won’t let you buy more than two little boxes at a time. I asked a Wal-mart cashier why I
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