Georgia Bankruptcy Exemptions

Bankruptcy exemptions are an important part of the bankruptcy system. In Chapter 7 bankruptcy, exemptions determine what property you get to keep, whether it be your home, car, pension, personal belongings, or other property. If property is exempt, you may keep it during and after bankruptcy. If property is nonexempt, the trustee is entitled to […]


Bankruptcy After Foreclosure – Deficiency Judgments

If you owned a home that was foreclosed, and the lender was unable to sell the property at foreclosure for at least the amount you owed on the home (i.e., you were underwater on your mortgage), then you may be left with a balance owed to the bank. This is called a deficiency.  Often, this deficiency […]


Can I Eliminate Past Due Income Taxes in Bankruptcy?

In short, the answer to this common question is Yes, but not always. Many people believe that income taxes are not dischargeable in bankruptcy. In fact, you are able to discharge federal, state, or local income taxes in both a Chapter 7 and a Chapter 13 bankruptcy if your tax debt meets certain rules. These […]


Hiding Assets in Bankruptcy Has Serious Consequences

New bankruptcy clients frequently ask us about whether they may transfer assets to another person prior to filing bankruptcy, or if they are required to list certain assets. In short, the answer is that you must list all assets and cannot transfer assets away to avoid the bankruptcy process. When you file a bankruptcy case, […]


Common Bankruptcy Myths Dispelled

Many people who are considering bankruptcy are scared by the process. You may fear losing your home or car, or you may feel you are going to be viewed negatively by friends, family, or the community.  Usually, these fears are based on myths that are not in reality true.  Below are some common bankruptcy myths […]


Can I Eliminate Mortgages From My House in Bankruptcy?

Yes, in certain circumstances, you may eliminate a mortgage lien from your house in a bankruptcy. This process is called “Lien Stripping.” Lien stripping is only available through a Chapter 13 bankruptcy, and is not available in a Chapter 7. You may strip a lien as long as (1) it is not the first position […]


Who Gets Paid When I File a Chapter 13 Bankruptcy?

When you file a Chapter 13 bankruptcy, your debt is divided into three categories: Priority, Secured, and Unsecured. Priority debt includes unpaid income taxes and employment taxes as well as past due child support and alimony. Priority debts must be paid in full through your Chapter 13 plan. Secured debt also must be paid through […]


Can I Eliminate Student Loan Debt in Bankruptcy?

Student loans are becoming a giant burden for individuals in the United States.  According to the Student Loan Debt Clock, Americans currently owe over $1.3 Trillion in student loans. So, if you are one of the many who owe student loans and are having trouble repaying them, can bankruptcy help?  The short answer is that […]