What if you have to file bankruptcy again?

If you find yourself in a situation again where a bankruptcy filing is the only route to fix the financial problem, yes you can file again. Bankruptcy can be filed any number of times, but the biggest hurdle you will face is whether you will get a discharge. A Chapter 7 case cannot be filed again until 8 years have passed since the first case was filed. However, if need, a debtor can file a Chapter 13 case should he have some secured debt that needs to be taken care of. It is possible … [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 happens if I simply walk away from my mortgage in Georgia?

A potential client called me the other day and said, “I am upside down on my mortgage and simply cannot afford the house any longer, what would happen if I just walk away?” Obviously, I couldn’t advise him specifically because he was not my client, so I answered the question in a general fashion. The reader should be aware that the answer herein does not provide any legal advice and should not be considered as such by the reader. When a party defaults on his mortgage, the mortgage … [Read more...]