The Chapter 7 341 Meeting of Creditors

Carol called me the other day to ask what she should expect at the 341 Meeting of Creditors. She was somewhat nervous about the hearing. It is not unusual that I get a call from my clients after they get the notice of the hearing. Carol also asked if there would be a judge there and I said no, the hearing is conducted by a Chapter 7 Trustee whose job it is to review cases to see if there are any assets that can be sold to pay creditors. She also asked if any or all of her creditors would be … [Read more...]

What happens when I can no longer afford my Chapter 13 case?

The national success rate for Chapter 13 cases is approximately 33%. It has also been reported that if a bankruptcy is filed, Chapter 13 is the better way as it helps all parties. The debtors are at least paying something on their debt. Creditors are happy to get at least some of the money owed to them. And in the grand scheme of things, commerce continues to work. However, many times, those debtors who go the route of Chapter 13 experience a change in circumstance that was not expected. … [Read more...]

How is an overpayment of Unemployment Compensation handled in bankruptcy – is it dischargeable?

Over the past few years, a lot of people have been losing their jobs and in order to make ends meet, they have filed for unemployment compensation benefits. In an effort to get back to a financial normalcy, they collect their benefits each week and look for that illusive job. They make things work as best they can, but then nothing happens and the bills continue to pile up. On top of those bills piling up, a letter comes from the Department of Labor explaining that the state made a mistake … [Read more...]

What happens to my credit report?

Did you know that filing a bankruptcy case does affect one’s credit report in a negative way?  Many debtors are under the belief that by filing bankruptcy, they will never ever be able to buy a house, car or anything else because they filed bankruptcy.  While filing bankruptcy is not going to produce a positive spin on a debtor’s credit history, nothing can be further from the truth.  Clients have shared with me the fact that they have taken a 200 point hit while others only 100 points.  … [Read more...]

What are credit card companies allowed to do when attempting to collect on your delinquent account in Georgia?

Consumers need to know that protection against unscrupulous collection practices is in place through the Fair Debt Collection Practices Act (FDCPA). The Act covers any collection activity related to a credit card, personal loan, auto loan, medical bill and even your mortgage. A creditor cannot, for example, contact a debtor about a debt owed during inconvenient times, i.e. before 8:00am and after 9:00pm. Creditors are not allowed to contact other people about a person’s debt but may inquire … [Read more...]

How to Hire a Bankruptcy Attorney in Atlanta

1. Don’t choose a bankruptcy lawyer based on cost alone. The expense of hiring a lawyer to assist you with your case can range anywhere from a few hundred dollars to over a thousand. Bankruptcy is not one of the major areas of practice for attorneys. It is a specialized area just like criminal law or  medical malpractice. Make sure you choose an attorney who has, as they say, been around the block a few times. 2. When looking for a bankruptcy lawyer, try to choose one who has been practicing … [Read more...]