Welcome to Bankruptcy Guide
Georgia Bankruptcy Court Article
. For a permanent link to this article, or to bookmark it for further reading, click here.
The Bankruptcy Attorney – When Experience Counts Twice
from: Deb St. George - HomelessInKingCounty.comThe bankruptcy attorney can seem like a confidante when you first meet him or her, because you will be sharing your personal financial details. Normally, these kinds of details are the kind people try to hide from the world for as long as possible. But when the debt burden becomes unbearable, it’s good to have a professional on your side as you deal with the complexities of the bankruptcy laws.
The very first decision an attorney will help you make is whether you should file bankruptcy at all. In some situations, other remedies are possible including selling assets or downgrading your lifestyle. But when that’s not possible, the second decision the attorney will help you make is deciding which bankruptcy chapter best fits your situation. The personal bankruptcy chapters are 7 and 13. Under chapter 7 you wipe out most debt. Under chapter 13 you set up a debt repayment plan through the court.
Once your bankruptcy attorney and you decide that filing is the right course of action, the next step is to actually record the petition in court. Your attorney will take care of this step and all other legal filing requirements. But after the filing you will discover an attorney specializing in bankruptcies can offer a number of other services.
The bankruptcy attorney is prepared to handle any and all special issues that arise during the bankruptcy process. For example, if you owe the Internal Revenue Service there are specific forms which must be filed in order to request IRS approval of tax debt elimination. The IRS will respond by indicating which debts can be included in the bankruptcy. Other special issues include business related debts, medical bills and the state and local debt laws that must be balanced with federal laws.
When you file a bankruptcy, it also helps to have an attorney that is trusted by the courts. Experience counts in court and a recognized and knowledgeable attorney is able to handle any court requirements. When you file bankruptcy, the court appoints a trustee to represent the court. The trustee reviews the attorney’s filings and can ask any questions that he or she sees fit to ask about your financial status. Your bankruptcy attorney can guide you through the process.
Your bankruptcy attorney also deals with creditors once the bankruptcy is filed. You virtually have no more contact with debt collectors and all debt collection efforts are referred to your attorney. This alone is a valuable service, because the attorney understands laws related to debt collection and is not cowed by collection efforts.
Even after you have completed your bankruptcy, the attorney who is an expert in bankruptcies can guide you on ways to re-establish your credit. This advice is valuable, because a bankruptcy stays on your credit record for 10 years. Therefore, establishing good credit is important, because your life will not be on hold for 10 long years.
A bankruptcy attorney is a person who will guide you through the entire bankruptcy process from initial financial status review to generating new credit after the bankruptcy is completed. If you are considering filing bankruptcy then your very first call should be to a bankruptcy attorney.
Georgia Bankruptcy Court News
Del. judge disgusted with bankruptcy trust secrecy - Legal News Line
 Legal News Line | Del. judge disgusted with bankruptcy trust secrecy Legal News Line (Legal Newsline) - Texas attorney Brent Coon submitted 20 claims to asbestos bankruptcy trusts on behalf of a Florida woman's estate without the client's new lawyers knowing, court records in Delaware show. Those claims also painted a different picture ... |
Gingrich's private ventures are going bankrupt - Reuters
Gingrich's private ventures are going bankrupt Reuters A bankruptcy proceeding under way in Atlanta will determine whether the one company still owned by Callista Gingrich, Gingrich Productions, will lose an expected payout that now constitutes the bulk of the Gingriches' net worth. |
Powder Springs Attorney Disbarred - Patch.com
Powder Springs Attorney Disbarred Patch.com Monday's ruling from the Supreme Court of Georgia comes more than a year after Robert Bach was arrested on 25 counts of theft by taking and five counts of theft by conversion. By Michael Stone Robert Bach's mugshot from his 2011 arrest. Ga. Attorney Facing Felony Theft Charges For Failing to File Client Cases is ... |
Cagle's Wins Court Approval to Sell Assets to Koch Affiliate - Bloomberg
Cagle's Wins Court Approval to Sell Assets to Koch Affiliate Bloomberg Cagle's Inc. (CAGAQ), a poultry producer, won court approval to sell its assets for about $93 million to JCG Foods LLC, an affiliate of Koch Foods Inc. US Bankruptcy Judge Joyce Bihary approved the sale to closely held JCG, which is owned by Joe ... |
Washington area bankruptcy filings for the week of May 14 - Washington Post
Washington area bankruptcy filings for the week of May 14 Washington Post These firms recently filed with the US Bankruptcy Court's local court clerk's offices. Under Chapter 11 of the federal bankruptcy code, a company is protected from claims by creditors while it attempts to reorganize its finances under a plan approved ... |
Virginia State Fair, sold at auction, to be held this fall - Inside NoVA
 The Republic | Virginia State Fair, sold at auction, to be held this fall Inside NoVA The nonprofit filed for Chapter 11 bankruptcy protection in December after it defaulted on about $75 million in loans. It converted the case to a Chapter 7 liquidation in March after SFVA was unable to come up with a package to buy the State Fair to ... UPDATE: State Fair of Virginia sold at auction for $5.35 million State fair to be held in September |
Father: Ga. student with flesh-eating bug - WSET
Father: Ga. student with flesh-eating bug WSET 'Octomom' Nadya Suleman has failed to file the proper paperwork in her bankruptcy case, opening the door to creditors to collect debts and allowing a foreclosure to go ahead against the house she lives in. 'Octomom' Nadya Suleman has failed to file the ... |