Georgia Bankruptcy Legal Questions

Deciding whether or not to file bankruptcy is a serious matter, and usually the debtor should have several debt problems, or one very large one, to justify it. If you file under Chapter 7, your co-debtor will be just as liable as you for the debt: i.e. you can't protect the roomie. Even if you filed Ch. 13, you could only protect the roomie if your Plan provides for 100% payment to the landlord. Find a skilled bankruptcy lawyer and give him or her all the details.... Read More

It is usually possible to refile under Chapter 13 after a case has been dismissed.  However, you must be able to show that you have sufficient regular income to make the new plan feasible.  If a car or other collateral has been repossessed, it can usually be recovered, provided that it hasn't been sold to a third party and the new plan provides for payment of the debt. If you have had a prior case pending within the last year, your attorney must file a motion to extend the automatic stay which goes into effect when your case is filed.  Otherwise the stay would expire 30 days after the case is filed, putting your property in jeopardy.  Motions to extend the stay are usually granted without dispute. If you have had 2 prior cases pending within the last year, the stay does not go into effect automatically.  Your attorney must file a motion to impose the stay.  Otherwise, your creditors could try to repossess and dispose of their collateral.  Motions to impose the stay are also usually granted, but you will likely have to show the court that your circumstances have changed and that the new plan is workable. If you are considering filing a new case after dismissal of a previous case, it is very important to consult with an experienced attorney right away.  Your attorney may be able to formulate a more favorable repayment plan so that the new case will be more likely to succeed.  Morgan & Morgan Attorneys at Law, P.C. is located in Athens, Georgia.  We have over 30 years experience assisting people throughout north Georgia with debt relief matters.  Visit our website at www.morganlawyers.com.... Read More

When you file a Chapter 7 bankruptcy, any assets that you own, including funds in your bank account, become property of the bankruptcy estate.  However, each Chapter 7 debtor is allowed to exempt certain property so as to protect it from being used to pay creditors.  In Georgia, the exemption normally used to protect funds in a bank account is found in O.C.G.A Section 44-13-100(a)(6).  It allows you to exempt up to $5600 in any assets.  There are other exemptions that are used to protect the equity in your home, your household goods, an automobile, etc. You need to review your bankruptcy schedules, particularly Schedule C, and determine to what extent you have exempted the funds in your bank account.  You may be able to amend your exemptions if necessary.  You can then ask the Trustee to "abandon" the funds that you have claimed as exempt.  Once you have the abandonment, the bank should release your funds. Morgan & Morgan is located in Athens, Georgia.  We have more than 30 years experience handling bankruptcy, Social Security Disability, and workers compensation cases throughout North Georgia.  Check our website at www.morganlawyers.com and call (706)548-7070 for a free intial consultation.... Read More