Bankruptcy

What Are They Going to Ask Me at My 341 Hearing

Posted on February 08, 2008
No matter how much your lawyer tries to reassure you, there is a good chance that you will be nervous and anxious at your 341 hearing.  Even though the consumer bankruptcy process is generally not very adversarial, no one likes to be in the witness chair...

Do You Want to Be Interviewed by French Television?

Posted on January 30, 2008
I received a call this morning from a colleague who tells me that she was contacted by a French television producer who is working on a news story about the real estate market in Atlanta.  They are looking to interview someone who is facing a foreclosure...

Atlanta Business Chronicle Spotlights Soaring Bankruptcy Filing Rates in Atlanta Metro area

Posted on January 30, 2008
Last week's edition of the Atlanta Business Chronicle includes a series of articles entitled "Falling into Recession."  One of these articles focuses on the high number of bankruptcy filings in the Atlanta area.  Judge Joyce Bihary, the chief judge in for the Northern District of Georgia Bankruptcy Court is quoted ...

Will the Trustee Seize 100% of a Tax Refund if Only One Spouse Files Bankruptcy?

Posted on January 15, 2008
My question is if someone comes to you to file BK individually, but she is due a tax refund that is in her name as well as her husband's, could the bank trustee only take 1/2 of the refund since the other 1/2 is considered an asset of her husband ...

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"Credit Freeze" Now Available in Georgia

Posted on January 15, 2008
As of this past November, 2007, all three credit bureaus will permit you to impose a "credit freeze" on your credit report so that you can stop or limit the damage caused by identity theft.  There is no charge to victims of identity theft and a $10 charge for those ...

Protect Yourself from Mortgage Fraud

Posted on January 15, 2008
My colleague, New York bankruptcy lawyer Jay Fleischman, posted the following video produced by FreddieMac on the Mortgage Law Network blog.  This very compelling video demonstrates how mortgage scammers use the foreclosure process to rip off homeowners...

Financial Managment Course Requirement - Filing Deadline

Posted on January 15, 2008
The bankruptcy law requires debtors to attend two educational courses.  The first requirement calls for a "debt management course" and must be completed prior to filing - your certificate of completion is your "ticket in" to the bankruptcy process. The second course, which is the subject of this post, is the ...

Chapter 7 and Middle Class Debtors

Posted on January 15, 2008
Over the past few weeks, I have received several emails from potential clients that begin with lines like "my salary is over $100,000 and I need to file Chapter 7 to protect myself against lawsuits from credit card companies" or "together, my wife and I earn well over $100,000 but ...

Credit Card Offers Being Mailed to You at Accelerating Rates

Posted on January 15, 2008
I read in this week's issue of the Consumer Bankruptcy News (a trade publication for bankruptcy lawyers) that during the 3rd quarter of 2007, credit card companies mailed 1.29 billion (that's billion with a "B") credit card offers to U.S. households.  This is an increase of 2 million offers a ...

Don't Assume that Claims by Creditors Will be Correct and Accurate

Posted on January 15, 2008
The Bankruptcy Code provides that creditors in Chapter 13 cases must file their proofs of claim within approximately 4 months after your Chapter 13 case is filed.   Often, however, your case is scheduled for confirmation before the proof of claim deadline...

Metro Atlanta Foreclosures Up 29% in 2007

Posted on January 15, 2008
The Atlanta Journal-Constitution reports that foreclosures in the 13 county metro Atlanta area are up 29% in 2007 as compared to 2006.  In 2007, there were 58,076 foreclosures, which is equal to around 4,900 foreclosures per month.  Note that these numbers only refer to the metro Atlanta area, not Georgia ...

Do I Have to Give Back the Car I am Financing if I File a Chapter 7?

Posted on January 15, 2008
I have a question about the blog in Nov,2006.  You said that filing bankruptcy can stop car repossion .  But after you file chapter 7 do you get to keep the car and the debt is discharged or you can keep the car only if you promise to make payments ....

Will Your Income Tax Refund Count in a Means Test Calculation?

Posted on January 15, 2008
I am considering chapter 7. I am not sure about the median income info because I am no longer employed and working a temp job and used my retirement to live on. My question has to do with income tax refund check. I don't think I will be getting a ...

Can Project Lifeline Help You?

Posted on December 31, 1969
Earlier this month, President Bush and Treasury Secretary Henry Paulson, together with representatives from Bank of America Mortgage, JP Chase, Citigroup, Countrywide, Washington Mutual and Wells Fargo announced the creation of "Project Lifeline" designed to help financially strapped homeowners avoid foreclosure...

How Does My "Stimulus Package" Check Affect My Bankruptcy

Posted on December 31, 1969
I have received several emails over the past few weeks asking about the impact of the $600 to $1,200 check that many of us will receive in May as part of the Bush stimulus package.   My colleague, Dana Wilkenson explains the impact in her post on the Bankruptcy Law Network ...

How Do I Know if My Chapter 13 Has Been Dismissed?

Posted on December 31, 1969
I have been out of work for the last six months. Prior to my being unemployed I filed Chapter 13 to try and get a hold of my finances.  I haven't been able to make a payment for 4 months now and wanted to know if I haven't heard from ...

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