Blog | Bankruptcy | Law Office Of Jeffery B. Kelly Georgia, Rome


Bankruptcy – Should I File If I am Letting the House Go?

By Jeffrey Kelly | November 15, 2009

If you have a first and a second mortgage, you may need to consider bankruptcy even if you are willing to let the house get foreclosed.  For more information on second mortgage issues, please see click here. If you have only one mortgage and you don’t have any other debt issues, you probably don’t need […]

After Foreclosure in Georgia, When Will the Second Mortgage Holder Sue?

By Jeffrey Kelly | November 15, 2009

In Georgia, if you file Chapter 13 bankruptcy or Chapter 7 bankruptcy, the answer is never.  Creditors can’t sue you in a Chapter 13 and a second mortgage holder can be wiped out in a Chapter 7 and a Chapter 13 if you are surrendering the house.  In bankruptcy, the automatic stay protects you from […]

When is Chapter 13 a better choice than a Chapter 7?

By Jeffrey Kelly | November 11, 2009

If you have a car that was purchased more than 910 days before you file bankruptcy, Chapter 13 might be a better option for you as opposed to Chapter 7.  In a Chapter 13, if your car was purchased more than 910 days before filing, section 506A valuation will apply to your plan.  This means […]

Can the Second Mortgage Holder Foreclose?

By Jeffrey Kelly | November 10, 2009

Yes.  While a second mortgage holder may have the power to foreclose, they almost never take this course of action unless there is a significant amount of equity in the home.  In order for a second mortgage holder to foreclose on your house in Georgia, they must first pay off the first mortgage holder.  Most […]

After Bankruptcy – Can They Take My Car?

By Jeffrey Kelly | November 9, 2009

The answer to this questions is…… depends on what type of case you file.  If you file a Chapter 13 with a plan to keep the car, the creditor cannot repossess it unless you let the insurance on the vehicle lapse or stop making your Chapter 13 payments.  As long as you keep your Chapter […]

Can I Wipe out Traffic Tickets in Bankruptcy?

By Jeffrey Kelly | November 9, 2009

No.  Traffic tickets are technically criminal fines.  No criminal fine can be wiped out in bankruptcy.  However, in a Chapter 13, we can set up a special provision in the plan to pay the traffic tickets at 100 cents on the dollar.   Paying traffic tickets is a much easier after we come up with a […]

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