BANKRUPTCY AND THE CORONA VIRUS Although the two subjects could not seem more different, they are, unfortunately related. In addition to the horrible physical and emotional toll that this disease is inflicting across the country and around the world, it is also ravaging our national and personal economies as governments attempt to constrain the virus…
DetailsMY BANKRUPTCY AND MY SPOUSE One of the first questions married individuals contemplating bankruptcy ask me is how their bankruptcy will affect their spouse. And like any good attorney, I answer, “It depends.” In this case, it depends on whether you and your spouse have joint debt. Joint debt is defined as debt for which…
DetailsChapter 7 Bankruptcy Savannah Attorney A Chapter 7 Bankruptcy is an effective way to eliminate credit card, medical and other debts which are generally described as “Unsecured.” However, not all debts are eliminated in a Chapter 7 Bankruptcy and there are several requirements which must be satisfied to qualify for a Chapter 7 Bankruptcy. Unlike…
DetailsWe’ve all experienced it; that heightened sense of anxiety when the time comes to pay the bills and try to make the ends meet. Sometimes, they don’t. Sometimes you have to rob Peter to pay Paul and discover that Peter’s broke. When that happens, a Chapter 13 bankruptcy may be the right answer. Like a…
DetailsWait! Wait! Don’t Touch That IRA! When your debts start to mount and your income is drying up, you start to shake the sofa cushions for loose change and break into the kids’ piggy banks. You do what you gotta do, right? And then you remember that you have an IRA (or 401K or pension,…
DetailsKEEP THE ASSET, KEEP THE DEBT Frequently clients will tell me that they want to include certain debts in their bankruptcy petition but exclude other debts. I have to remind them that bankruptcy doesn’t really work that way. One of the fundamental principles of bankruptcy is that all of a person’s debts must be listed…
DetailsBelow is an article from the Wall Street Journal. By Jean Eaglesham and AnnaMaria Andriotis Updated Aug. 10, 2019 7:58 am ET Early this year, Phoebe Tu was rejected for a $30,000 loan to consolidate her credit-card debt. Within days, the gears were turning in a multibillion-dollar lending machine that enables consumers to borrow and, more…
DetailsFor better or worse, cars are the life-blood of America. Unless you live in a major urban city with excellent mass transit, you likely need a car to get around, especially back and forth to a job. But cars can be expensive. According to USA Today, the average new car payment in the U.S. was…
DetailsWhat NOT To Do Before You File Bankruptcy Here are a few things that you should not do before filing bankruptcy. 1. Don’t transfer assets to someone else. Often people believe that they can dodge a creditor by transferring title on real estate or an automobile to a family member or friend. Such a transfer…
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