Much has been written on this blog about “reaffirmation” – the process by which a Chapter 7 debtor formally and in writing agrees to opt out of the protections inherent to a bankruptcy discharge and assume again contractual liability for secured (or unsecured) debts like mortgages and vehicle loans.
You should always speak to your lawyer [...]

Although it has been in effect for several years, the median income/means test provisions of the Bankruptcy Code continue to confuse potential bankruptcy filers.
In my Atlanta, Georgia bankruptcy practice, I regularly get questions from new clients about the two “budgets” that are filed in Chapter 7 and Chapter 13 cases.  The first “budget” is the [...]

As you may know the Bankruptcy Code provides that Chapter 13 plans must last at least three years but no more than five years.  As a practical matter, most of the Chapter 13 plans I file in my Atlanta area bankruptcy practice end up as five year plans (this is because the disposable income calculations [...]

As you may know, bill collectors are subject to more regulation than actual creditors.  In other words, an employee of MasterCard or Visa can call you and say certain things legally, whereas an outside bill collection agency hired by the credit card issuing bank would be in violation of the law for saying or doing [...]

For the first time since means testing was introduced in 2005, several of the median income numbers for Georgia families have gone down.  This means that the presumption of abuse is more likely to arise for Georgia filers.
Here is an example:  if you have a family of 4 and file Chapter 7 on October 31 [...]

I wanted to call your attention to a useful article that appeared on the FoxBusiness website – a reprint of an article from Bankrate.com called “100 Tips to Help You Save.”  Some of the tips refer to “big ticket” decisions like choosing light colored roof to save energy, but many of the tips discuss changes [...]

From time to time I receive emails from men or women who have gone through a divorce and whose ex-spouse has filed a bankruptcy.  They usually want to know if their ex-spouse’s bankruptcy can eliminate obligations set out in a divorce order.
In general, Bankruptcy Code Section 523(a)(5) and 523(a)(15) except from discharge debts arising from [...]

This past November, I reported about a high profile bankruptcy case filed in the Northern District of Georgia, just outside Atlanta.  State School Superintendent Kathy Cox and her husband, a homebuilder, filed for Chapter 7 bankruptcy.  According to news reports the filing was triggered by over $3.5 million in losses incurred by John Cox’ failed [...]

This weekend’s Parade Magazine (the free insert that you can find in most Sunday papers around the country) has published an article entitled “How to Bounce Back from Bankruptcy.”   Parade notes that over 1 million people filed for bankruptcy in 2008, which constitutes a 30% increase from 2007.
One of the Parade suggestions especially resonates with [...]

Last year on this blog, my colleague Pam Stewart wrote a post that explains the emergency bankruptcy filing process.  As Pam notes, situations do arise in which an individual needs to file bankruptcy immediately but does not have time to gather all of the documentation needed for a complete filing.  An emergency filing allows a [...]