It’s a myth that struggling consumers knowingly spend beyond their means. On the contrary, debt has a tendency to sneak up on most people little by little, day by day. Often times, you don’t notice how large debts have become until they’ve grown far beyond what you can reasonably repay. Just as it’s difficult to… Read More »
There’s a reason Chapter 7 is the most common type of personal bankruptcy: It’s a lot faster than Chapter 13, it doesn’t require filers to pay back a portion of debt and, contrary to popular myth, it allows most people to keep their possessions. So what’s the biggest drawback to Chapter 7? Not everyone will… Read More »
It’s true that everything costs money these days and, oddly enough, so does filing for bankruptcy. Regardless of your specific financial situation, there are a few fees that are unavoidable when filing a claim. The first cost you’ll run into is the filing fee, which can be rather substantial. In Georgia, it costs $306 to… Read More »
There is a significant stigma attached to bankruptcy that leads people to believe that filing a claim means that one is either poor or irresponsible with finances. In addition, common misconceptions tend to follow that bankruptcy leads to forfeiting everything you own or that you are somehow gaming the system to your advantage. These are… Read More »
With the average Chapter 7 bankruptcy taking between 100 and 180 days and the average Chapter 13 bankruptcy taking about 3-5 years, people often wonder why filing for bankruptcy in Georgia is such a lengthy process. The truth is that there are a lot of time-specific waiting periods and deadlines that must elapse at multiple… Read More »