Atlanta Bankruptcy Law Blog

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.

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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.

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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.

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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.

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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.

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What Do You Believe About Bankruptcy?

There are prevailing assumptions when it comes to bankruptcy, causing many to believe that excessive spending and lifestyle habits are to blame for filing Chapter 7. This might be true in some cases. Yet, there are other reasons to file, which begs the question, “what do you believe about bankruptcy?” Consider the following discussion concerning the myths surrounding bankruptcy.

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Are You Underwater On Your Georgia Mortgage?

Even if you were not directly affected by the housing market crash of the late 2000’s, perhaps you can recall its devastation, as homeowners lost a considerable portion of their home’s value. In effect, many found that they were “underwater” relating to their mortgage, as the balance of their loan became higher than the market value of the home.

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The Bankruptcy Means Test – The Formula To Help You File

When it comes to filing for bankruptcy, there are various ways to do so, depending on income and the type of debts owed. While most attempt to file Chapter 7 bankruptcy, which wipes all out debts, the bankruptcy “means test” has become the standard formula to help determine if one is eligible to file Chapter 7 bankruptcy.

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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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