Atlanta Bankruptcy Law Blog

Are You Facing a Foreclosure?

As a quintessential part of the American dream, purchasing a home is an exciting time for couples and families. For young families, in particular, signing the first mortgage contract is proof that they are growing up and taking on adult responsibilities. Yet, as life would have it, hardships make it difficult to stay on top of payments from time to time. In some cases, an unforeseen circumstance might result in several missed payments. When this happens, a bank considers the mortgage contract breached.

Continue reading Are You Facing a Foreclosure?...

Are You Still Underwater On Your Mortgage?

While it has been over a decade since the burst of the housing bubble, many homeowners across the Atlanta-metro area continue to experience the devastation of not being able to pay off their mortgages by selling their homes. As such, these homeowners are considered “underwater” on their mortgages.

Continue reading Are You Still Underwater On Your Mortgage?...

Are You Having Trouble Making Chapter 13 Bankruptcy Payments?

For those seeking to take charge of their debt through filing chapter 13 Bankruptcy, the chapter 13 plan is the crux of their bankruptcy case, as explained by NOLO. Yet, completing a repayment plan in this case is difficult. For instance, suppose an individual is faced with a financial emergency, serious health issue or other unforeseen circumstance that causes them to fall behind on their payments. What options are available for debtors having trouble making their chapter 13 Bankruptcy payments?

Continue reading Are You Having Trouble Making Chapter 13 Bankruptcy Payments?...

Your Assets After Bankruptcy

Upon filing for bankruptcy and establishing a “bankruptcy estate,” individuals often have questions regarding which assets are exempt from being liquidated. More importantly, however, they wonder about future assets and those obtained after their bankruptcy filing.

Continue reading Your Assets After Bankruptcy...

Are You Overwhelmed With Medical Debt?

For individuals with chronic illness or pain, the heavy cost of medical care is something that they are all too familiar with. Yet, for those who are seemingly healthy, charges for a single accident or emergency can reach up to five figures!

Continue reading Are You Overwhelmed With Medical Debt?...

Is Applying For Joint Credit A Good Idea?

Whether two individuals are getting married, co-signing on a mortgage or allowing a child to become an authorized user on a credit card account, Investopedia explains that individuals apply for joint credit for a variety of reasons. Simply put, this allows people to share responsibility for repaying a debt, and applying for joint credit allows one individual to obtain something that they couldn’t qualify for on their own. This is because “joint credit” is based upon combined income, assets and credit histories of those that apply. Yet, because combining financial interests will affect all parties’ credit scores, those applying for joint credit should proceed with caution.

Continue reading Is Applying For Joint Credit A Good Idea?...

Bankruptcy For High Income Earners

Without question, filing bankruptcy for high-income earners comes with challenges, as individuals are often told that they do not meet qualifications, particularly for chapter 7 Bankruptcy. Unfortunately, fees associated with filing chapter 13 Bankruptcy are significantly higher than filing chapter 7.

Continue reading Bankruptcy For High Income Earners...

Rebuilding Credit After Bankruptcy

Many believe that bankruptcy marks the end of one’s financial life. Yet, the truth is—bankruptcy establishes a fresh start so that individuals and families can move forward and make better choices for the future. In fact, it’s possible to rebuild your credit after bankruptcy when you apply the right strategies early on.

Continue reading Rebuilding Credit After Bankruptcy...

Are Debt Collectors Hassling You?

Approximately one in three Americans have unpaid bills that have been sent to a collection agency, as noted by Fox News. If you are one of those individuals, you’re not alone. Without question, being contacted by debt collectors is both embarrassing and overwhelming, and can make it more difficult to get back on track financially.

Continue reading Are Debt Collectors Hassling You?...

Student Loan Debt And Repayment

There’s no question that earning a college degree is important for obtaining job security and long-term financial gain. Yet, more and more occupations are requiring advanced educational degrees and certificates, leaving many with an overwhelming amount of student loan debt.

Continue reading Student Loan Debt And Repayment...

Automatic Stay

For individuals that file for bankruptcy (chapter 7 or chapter 13), the automatic stay provides welcome and immediate relief from creditors attempting to collect on previous debts. For this reason, automatic stay is a strong motivator for some thinking about filing for bankruptcy.

Continue reading Automatic Stay...

What You Should Know Before Jumping Into A Short Sale

For homeowners that are default on mortgage payments, or for those that are underwater on their mortgage, they may explore the idea of a short sale process under the notion that it could protect their credit. The Balance explains that while some agents stand by this mantra, it is only partially true. First, real estate agents shouldn’t make assurances to sellers regarding their credit rating in such a case.

Continue reading What You Should Know Before Jumping Into A Short Sale...