Atlanta Bankruptcy Law Blog

Understanding Bankruptcy

With nearly one million bankruptcies reported on an annual basis across the United States, it’s safe to say that Americans are overwhelmed with debt. While some assume that one’s debt is the result of irresponsibility, this is not always the case, nor is it that simple. From credit card debt to medical debt, loss of wages or divorce, there are numerous circumstances that lead one to explore the idea of filing for bankruptcy.

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How To Stop Repossession

Are you struggling to make your monthly car payment? Have you fallen behind on your loan and now you are receiving past due notifications? Maybe your lender is already sending communications that they are going to repossess the car.

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What Can You Keep When You File Bankruptcy?

What a person gets to keep when he or she files for bankruptcy is called an exemption. Exemptions are important in both Chapter 7 and Chapter 13 bankruptcies, but work differently for each.

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Before You Consider Joint Credit

When people say, “I do,” they typically believe in the happily ever after. They go into marriage with love on their radar and the future in their sights. Many couples have the opinion that “what’s yours is mine and what’s mine is yours” when it comes to everything, including finances.

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Stay At Home Moms: Divorce and Bankruptcy

It is an unfortunate occurrence, but divorce and bankruptcy often go hand-in-hand. While this can be a burden for anyone to overcome, stay at home moms are often the most severely impacted by this circumstance.

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Underemployment

While the recession of 2008 is over and many Americans are finding work again, underemployment has become a significant factor. Many workers have been forced to accept a job with a salary that cannot sustain their lifestyle.

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Burdensome Student Loans

When most people think of “debt,” they typically think of consumer debt, car loans, and home mortgages. However, student debt is the second biggest debt sector in the United States, reaching $1 trillion. In fact, student debt is the only debt sector to massively grow since the crash of 2008.

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Mid-Year Financial Review

With 2017 half way over, now is a great time to check in and review your finances. Millions of Americans make New Year’s resolutions each year, and while losing weight and/or getting “in shape” will probably always rank as the number one resolution, getting finances under control is also a popular goal.

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Stop Job Garnishment Through Bankruptcy

Debt is a very difficult situation for people to find themselves in. When people find themselves trapped in extreme debt, there are often unexpected and severe consequences that come down the pike. One of these is known as job garnishment, where creditors can garnish your paycheck – withhold a portion of your earnings to repay creditors.

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Bankruptcy and a Second Mortgage

A second mortgage is a loan taken out to borrow money against your first mortgage. This process can be done for a variety of reasons: consolidating debts, financing home improvements, to avoid property mortgage insurance, and others. Second mortgages tap into the equity in your home that you have built up over time.

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Basics of Bankruptcy

Many people view the word “bankruptcy” as a very bad word. Granted, the decision to file bankruptcy is not an easy one, nor is it one that should be made lightly. However, bankruptcy can be an excellent choice for families that need to get on a better financial track and provide a fresh start for the future.

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Secured Vs. Unsecured Debt

Filing for bankruptcy is a huge decision, one that cannot be made lightly. There are many different factors to think through that will affect your present situation and your future. One of the most important factors to examine is all of your debts.

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