Ch 7

Bankruptcy – Can I Keep Contributing to My 401k After I File?

November 23, 2010

Whether you file Chapter 13 or Chapter 7 bankruptcy in Georgia, you can keep contributing to your 401k retirement plan after you file. I recently met with some bankruptcy clients in my Rome GA office who were concerned that they would not be able to keep saving for retirement after they filed. These bankruptcy clients [...]

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Bankruptcy – What Is An Objection To Discharge?

October 25, 2010

In a chapter 7 bankruptcy in Northwest Georgia, a creditor can file an objection to a discharge of their debt.   The legal term for this is a complaint to determine dischargeability. The most common scenario where a creditor will file a complaint to determine whether a debt is going to be discharged in a chapter [...]

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Bankruptcy – Can I Keep The Four Wheeler?

October 21, 2010

“After filing bankruptcy in Georgia, will I be able to keep my four wheeler?”  Last week, I was asked this question by a Rome GA bankruptcy client.  In their situation, the four wheeler was their child’s toy that they drove around every day after school.  The thought of taking it away from their child clearly [...]

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Chapter 7 Bankruptcy – What Is A 722 Redemption?

September 21, 2010

In some Chapter 7 bankruptcy cases, a section 722 redemption might be a good idea.  Section 722 of the Bankruptcy Code allows a debtor to redeem collateral (like a car) for the amount of the secured claim. Section 722 states, ” An  individual debtor may, whether or not the debtor has waived the right to [...]

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Chapter 7 Bankruptcy – When is it a Bad Idea to Reaffirm A Debt?

September 13, 2010

In a Chapter 7 bankruptcy, it is sometimes a bad idea to reaffirm certain types of debts. Reaffirm means you re-obligate yourself on the debt.  Or in other words, you legally agree to treat the debt as if you have never filed Chapter 7 bankruptcy against it. For example, lets you bought a car from [...]

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Chapter 7 Bankruptcy – Should I Reaffirm a Car Lease?

September 1, 2010

When you file Chapter 7 bankruptcy in Georgia, I don’t think you should ever reaffirm a car lease. Chapter 7 bankruptcy gives you the chance to be free from your debt.  When you reaffirm a debt, you basically agree to treat to the debt as if you have never filed bankruptcy against it so that [...]

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Bankruptcy – Can I Keep a Credit Card After I File?

August 22, 2010

As a general rule, you cannot keep a credit card after you file bankruptcy.  I meet with clients from Dalton, Rome, Cartersville, Hiram and Dallas Georgia who will ask, “Why can’t I keep just one credit card for emergency situations?” When you first meet with your bankruptcy attorney, tell him about every single credit card [...]

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