Should Candidate Stacey Abrams file Bankruptcy?

Stacey Abrams is one of our excellent Democratic candidates for Georgia’s next Governor, and IMO could be a good candidate for filing personal bankruptcy.  As long as she’s in the running for our Governor, I don’t think that she will file. If she continues to perform well and/or wins the May primary and or November […]

Credit Card interest rates on the increase

Credit Card interest rates are going to rise in 2018. You’ve likely heard this on the news. Yes, it is widely anticipated that short-term interest rates (those that apply to most credit cards debts we carry) are set to rise in 2018 due to concerns about inflation. If you’re carrying revolving balances on high interest […]

Free income tax preparation

Tax return time. You don’t necessarily have to pay hundreds of dollars to get assistance filing your tax return.  Check out the IRS link to information for low/moderate income families and the elderly here. VITA (volunteer income tax assistance) and TCE (tax counseling for the elderly) are legitimate service providers staffed by volunteer tax professionals. […]

Getting a Prenup? Get it in writing, signed by both parties, two witnesses

Get your prenup agreement in writing. We expect that when Governor Deal signs the bills that is passed this legislative session later this spring, that he’ll be modernizing the law in Georgia about prenups (aka prenuptial or antenupital agreements). SB190 looks likely to pass and will provide that prenuptial agreements be in writing, signed by both […]

How to pay off your credit card balances the ‘right’ way

This is the time of year when most of us have opened our holiday shopping bills and thought ‘yikes’ what was I thinking when I charged that toy, that meal, that gift, etc. .  We know that spending on credit cards has increased a lot recently.  This is a sign that people are feeling confident about […]

Chapter 7 Bankruptcy–a “Fresh Start”

What Makes a Chapter 7 Bankruptcy Discharge So Powerful? Filing Chapter 7 enables you to ‘reboot’ your finances starting from the day you file bankruptcy. When you file Chapter 7 bankruptcy you get immediate relief from creditors and collection efforts-this means you may stop paying minimum payments on credit cards. Filing Chapter 7 means that […]

What does it cost to file bankruptcy?

What Does It Cost to File Bankruptcy? Your total cost to file Chapter 7 or Chapter 13 bankruptcy with my office depends on the complexity of your facts and whether you file Chapter 7 or Chapter 13. I will discuss your case with you and set my fee when we meet.  The great news is […]

Bankruptcy FAQs

Atlanta Bankruptcy FAQs We will spend as much time as you need talking about the process of filing bankruptcy and Atlanta bankruptcy basics. I want you to be an educated client so you understand the process and feel like you are in control. Some of my clients spend time on the Internet reading about bankruptcy […]

Mortgage stripping in Chapter 13 bankruptcy

What does Mortgage stripping mean? Mortgage stripping simply means that we remove the security interest that locks debt to your property and reclassify the debt as unsecured.  The security interest is removed upon completion of the Chapter 13 plan because the second mortgage or HELOC  is not secured by the value of the property.  If […]

Paying off student loans (in and out of bankruptcy)

Most Americans need help paying off student loans. If you’ve looked for options, you’ve likely been disappointed with the options you find to pay off your student loans. If you’ve listened only to what your servicer tells you, there are no other options than paying off student loans off ‘in full’ ‘forever’ ‘or else…’ While it’s […]

No stripping second mortgages Chapter 7 bankruptcy

Chapter 7 and Chapter 13 bankruptcy clients with second mortgages always ask about stripping second mortgages in bankruptcy. Up until this week I could counsel clients about stripping second mortgages either in Chapter 7 bankruptcy or Chapter 13 bankruptcy.  No longer. Though Atlanta’s real estate recovery is real, if you have a house with more than […]

First step to discharging taxes in bankruptcy–IRS tax account transcript

What’s the first step in discharging taxes in bankruptcy? Will your IRS and/or Georgia state taxes be discharged in bankruptcy? Those are great questions–the answer depends entirely on how old the tax debts are and how the IRS / Georgia Department of Revenue have processed and classified your returns. When you consult with me about taking that first […]

What is the means test in bankruptcy?

What is the means test in bankruptcy? The means test in bankruptcy is a calculation that determines whether you qualify to file Chapter 7 bankruptcy in Georgia.  The Means Test is based on gross income your household received in the six months prior to the month you file bankruptcy. Do you make too much to […]

Could you avoid filing bankruptcy by filing a complaint with the Feds?

Occasionally I meet with clients who have one or two issues that are the only reason they contact me to talk about filing Chapter 7 or Chapter 13 bankruptcy.  For these ‘single issue’ bankruptcy clients It’s most commonly a GIANT student loan, but I’ve also met with clients who are struggling with one or two payday loans […]

GREAT news about increased ‘wildcard’ exemption in Georgia

Clients who are contemplating filing bankruptcy have long been subjected to Georgia’s exceedingly low ‘wildcard’ exemption of $600, plus up to $5,000 of any unused Georgia homestead exemption. Thanks to State Senator Jesse Stone, who authored the bill, these wildcard limits DOUBLE effective July 1, 2015. The increase to the wildcard exemption mean that each […]

What is a Chapter 13 plan payment?

What is a Chapter 13 plan payment? THE CHAPTER 13 PLAN PAYMENT GOES TO YOUR CREDITORS. You will end up in Chapter 13 if you make too much money to file Chapter 7 bankruptcy based on the means test, or if because there is a compelling reason to file Chapter 13 over Chapter 7. On […]

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