Balloon notes can present some serious issues in a Chapter 13 bankruptcy. As a Georgia bankruptcy attorney, I’ve seen some situations work out and other cases end up serious trouble because of balloon notes. A balloon note is a type of mortgage which does not fully amortize over the life the loan. Thus, there is […]
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“Can you file Chapter 13 bankruptcy and still obtain a loan modification of your mortgage?” I’ve been fielding this question quite a bit lately. Just the other day, I was speaking with a client in my Dalton office about this topic. The answer is yes. You can obtain a loan modification of your mortgage while
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“How fast do I need to file bankruptcy to stop a foreclosure in Georgia? When is it too late to file? Can I wait until the last second?” I get these questions from potential bankruptcy clients in Dallas, Cartersville, Rome, Calhoun and Dalton, Georgia every month. Technically, as long as you have a bankruptcy case
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Bloomberg news has reported that U.S. Bankcorp and Wells Fargo have lost a major foreclosure case in the Supreme Court of Massachusetts (click here to see the full article). This ruling upholds a decision from a lower court that declared that two foreclosures in Massachusetts were not valid because the banks did not prove they
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Understanding Chapter 13 and the 36 month applicable commitment period can be tricky. I received a call this past week from one of my Rome GA bankruptcy clients who was in a ten percent Chapter 13 plan. He asked his plan said he was going to pay back only ten cents on the dollar but
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In a chapter 13 bankruptcy, you will know that your case is feasible because we will spend at least two hours going over all of the court documents before we file your case. We are not going to rush you. Signing a bankruptcy petition without careful review will cause you future problems. You are much
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In a Chapter 13 bankruptcy, you must get an accurate appraisal of the value of your house if you intend to wipe out the second mortgage in your bankruptcy. Not only must you get an appraisal that shows that your house is worth less than what you owe on your first mortgage, but you also
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Whether you file Chapter 13 or Chapter 7 bankruptcy in Georgia, you can keep contributing to your 401k retirement plan after you file. I recently met with some bankruptcy clients in my Rome GA office who were concerned that they would not be able to keep saving for retirement after they filed. These bankruptcy clients
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In a Chapter 13 bankruptcy, your plan payment will increase when you pay off your 401k loan. I recently met with a Cartersville GA chapter 13 bankruptcy client who had this question. Like many Georgia consumers, this Cartersville GA bankruptcy client tried to fix their credit card situation by borrowing against their 401k in an
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“After filing bankruptcy in Georgia, will I be able to keep my four wheeler?” Last week, I was asked this question by a Rome GA bankruptcy client. In their situation, the four wheeler was their child’s toy that they drove around every day after school. The thought of taking it away from their child clearly
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