According to Experian, roughly 20% of current auto loans are considered to be subprime. These loans are geared for those with poor credit and have high interest rates. The best course of action for handling an existing auto loan as you approach bankruptcy requires that you and your attorney evaluate your specific circumstances. Assuming that you require a vehicle …
It is fairly easy to understand what to expect what will happen to your credit score, it will drop and you may feel uncomfortable. The primary factor in that calculation of how big the drop being, how high the credit score was before filing. An excellent credit score will have a larger drop close to …
Chapter 7 bankruptcy is one of the most common types of bankruptcy and typically, the one most individuals decide to take when they declare bankruptcy. As with all things, there are pros and cons to chapter 7, and knowing what they are can help you make the best-informed decision for your financial situation before you …
If you find yourself in an overwhelming amount of debt, bankruptcy may be the best option available to you. Chapter 7 is one of the most common types of bankruptcy filing and will eliminate debt and give you what is considered a “fresh start”. The assets that you hold will be collected by a trustee …
Qualifying through the Georgia Chapter 7 Means Test Generally, there is one roadblock that stands between debtors and their Chapter 7 discharge: qualifying through the Georgia Chapter 7 Means Test. The most common chapter of bankruptcy filed by debtors is Chapter 7. Chapter 7, outside of certain specific situations, is the more desirable of two …
Bankruptcy filing rates are down overall, but four Georgia counties are among the top ten in the nation in terms of consumer bankruptcy filings. With 1,096 bankruptcy filings per 100,000 people, Clayton County (Jonesboro) is second only to Shelby County in Tennessee. The recession hit folks in Clayton County hard, as unemployment peaked at 13.5 …
If you are considering filing bankruptcy, you probably have many questions. Some questions which few sites answer can have a big impact. The Chapter 7 bankruptcy FAQs below can make a large difference in understanding the bankruptcy process and how your specific situation can fit into that process. Q: Will I be able to repair …
Hard-to-Find Answers to Chapter 7 Bankruptcy FAQs Read More »
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 …
As a general rule, I do not think it is ever a good idea to reaffirm a mortgage in a Chapter 7 bankruptcy case. When you reaffirm a debt, you basically re-obligate yourself on it and make yourself personally liable for something you could have eliminated in a Chapter 7. However, most of my clients …
Should I Reaffirm My Mortgage in a Chapter 7 Bankruptcy? Read More »
Since June is just around the corner, we are getting a lot of calls from potential bankruptcy clients who are asking, “Should I file bankruptcy before I get married?” Love is in the air. I can just hear that song right now. Click here if you want to know what song I’m singing. The important …
Should You File Bankruptcy Before You Get Married? Read More »