There were 10,357 foreclosure notices published in February for the 13-county Metro Atlanta area, up 27 percent from January and 34 percent from February 2009.
Alpharetta-based Equity Depot released the numbers in a report today, according to a post by Henry Unger in his “The Biz Beat” on the Atlanta Journal Constitution’s Web site.
I guess the brief slowing in January’s numbers was the calm before the continuing of the storm that is devastating neighborhoods across Atlanta.
Thousands of Georgia residents have faced an unexpected financial crisis through job loss, home foreclosure, high medical bills or unexpected death or divorce. Many Duluth residents have found relief by filing bankruptcy in Duluth. If you are considering filing bankruptcy in Duluth, Georgia, you can contact a Duluth bankruptcy lawyer for help.
Filing Chapter 7 bankruptcy in Duluth may allow you to discharge all or a portion of your debt within four to six months. Filing Chapter 13 bankruptcy in Duluth may allow you to reorganize your debt payments with a 3 to 5 year repayment plan.
Filing bankruptcy is a serious financial decision and should not be considered without contacting a Duluth bankruptcy attorney. It is time to stop avoiding creditor calls or worrying about losing your home. Let a Duluth bankruptcy lawyer help you decide if bankruptcy is right for you.
Filing Chapter 7 Bankruptcy in Duluth
Filing Chapter 7 bankruptcy in Duluth is a simple, inexpensive and fast way to eliminate financial debt. Not everyone will qualify to file bankruptcy so it is important to contact a Duluth bankruptcy lawyer who can perform the proper means testing to evaluate a filer’s eligibility.
If a Duluth resident qualifies for Chapter 7 bankruptcy their bankruptcy attorney can file the bankruptcy petition in court. The petition includes information about the filer’s debts, exempt and non-exempt assets and a list of their creditors. The court evaluates the petition, schedules the creditor’s meeting and assigns a trustee to liquidate the filer’s non-exempt assets. Filing Chapter 7 in Duluth discharges most or all of the filer’s debts by allowing the trustee to sell the assets and use the proceeds from the liquidation to pay the filer’s creditors. All remaining non-exempt debt is then considered discharged.
Filing Chapter 13 Bankruptcy in Duluth
Filing Chapter 13 bankruptcy in Duluth is not a liquidation of assets for the purpose of discharging debt, but is instead a reorganization of debt under a new restructured debt repayment plan. The bankruptcy repayment plan is a three to five year plan, often with more favorable repayment options. Filing Chapter 13 bankruptcy in Duluth may allow the filer to stop home foreclosure, wage garnishments and property repossession.
To qualify for Chapter 13 bankruptcy the filer must have a steady income source to make the required bankruptcy payments. Filers also can not have unsecured debt which is greater than $269,250 or secured debt which is greater than $807,750.
Personal Debts Not Eliminated By Filing Personal Bankruptcy in Duluth
Certain personal debts are not eliminated by filing bankruptcy in Duluth, Georgia. Non-exempt assets are outlined in federal bankruptcy laws and are the same for all states. Filing Chapter 7 bankruptcy or filing Chapter 13 bankruptcy in Duluth does not eliminate the following debts:
If you are considering filing Chapter 7 or Chapter 13 bankruptcy in Gainesville, Georgia, you are not alone. Last year thousands of Georgia residents suffered severe economic hardships due to an unexpected medical crisis, job loss, home foreclosure or divorce. No one wants to file bankruptcy, but there are financial situations which make it a good option for getting a fresh financial start.
Filing Chapter 7 bankruptcy in Gainesville may allow Gainesville residents to eliminate most or all of their medical bills and credit card debt. Filing Chapter 13 bankruptcy in Gainesville will not immediately discharge debt, but it may allow the filer to create a more favorable three to five year repayment plan.
Before filing bankruptcy it is important to discuss all of your financial options with a Gainesville bankruptcy lawyer who understands federal bankruptcy laws and can help you decide if Chapter 7 or Chapter 13 bankruptcy is right for you.
Filing Chapter 7 Bankruptcy in Gainesville
Filing Chapter 7 bankruptcy in Gainesville discharges certain types of unsecured debt by liquidating the filer’s non-exempt assets and using the money from the liquidation to repay their creditors. This liquidation is done with the assistance of a court assigned trustee.
To begin the Chapter 7 bankruptcy process the bankruptcy petition must be filed in bankruptcy court. The petition provides information to the bankruptcy court about the filer’s creditors, debts and assets. The court reviews the petition and if is approved, the court schedules the 341 Creditor’s Meeting. Chapter 7 bankruptcy and the dismissal of debt can generally be completed within four to six months after the bankruptcy petition is filed by a Gainesville bankruptcy lawyer.
Filing Chapter 13 Bankruptcy in Gainesville
Filing Chapter 13 bankruptcy in Gainesville does not discharge debt immediately, but the filer can work with their Gainesville bankruptcy lawyer to develop a repayment plan which spans three to five years and may have more favorable repayment terms.
Chapter 13 bankruptcy is not a “liquidation” but a reorganization of a filer’s debts and may allow for the filer to keep their home and other property. This can be very beneficial for filer’s who have assets they do not want to sell.
Not all Gainesville residents qualify for Chapter 13 bankruptcy. Filers must have a steady income which they can use to meet the obligations of the repayment plan. They also can not have secured debt which is more than $807,750 or unsecured debt which is more than $269,250.
Personal Debts Not Eliminated By Filing Personal Bankruptcy in Gainesville
All debts which are eligible to be discharged are outlined in the federal bankruptcy code. Filing Chapter 7 or Chapter 13 bankruptcy in Gainesville does not discharge all personal debts. Debts not discharged must be paid or creditors have the legal right to continue their aggressive debt collection efforts. Debts not discharged by filing personal bankruptcy in Gainesville include the following:
Marietta residents who need more information about filing bankruptcy in Marietta, Georgia, can contact a Marietta bankruptcy lawyer for information. Filing bankruptcy is a very important financial decision which can have negative long-term financial ramifications.
Many people are having difficult paying their bills and are facing home foreclosure. Filing Chapter 7 bankruptcy in Marietta may allow them to discharge certain types of debt within four to six months. Filing Chapter 13 bankruptcy in Marietta may allow them to create a more favorable three to five year repayment plan.
Is it the right time to file bankruptcy? It is tough to know the right answer to this question, but if you have suffered a medical crisis, divorce, death or unexpected job loss and can not regain your financial footing, filing bankruptcy in Marietta may be the right solution for you.
Filing Chapter 7 Bankruptcy in Marietta
Chapter 7 bankruptcy is considered a liquidation bankruptcy and can discharge most or all of the filer’s unsecured debt within four to six months (certain debts are not discharge by filing bankruptcy). Personal debt which can be discharged by filing personal bankruptcy in Marietta includes credit card debt and medical bills.
The first step in filing Chapter 7 bankruptcy in Marietta is to contact a Marietta bankruptcy lawyer. The Marietta bankruptcy attorney will file the bankruptcy petition in the appropriate bankruptcy court. The petition will provide the court a list of all of the filer’s creditors, debts and exempt and non-exempt assets. The bankruptcy court will review the petition, schedule the meeting of the creditors and assign a trustee to the bankruptcy case. The trustee is responsible for liquidating the filer’s non-exempt assets and using the proceeds from the liquidation to pay the filer’s debts.
Filing Chapter 13 Bankruptcy in Marietta
Filing Chapter 13 bankruptcy in Marietta does not liquidate the filer’s assets and repay the creditors, but instead allows a reorganization of the filer’s debts. The filer and their Marietta bankruptcy lawyer can create a new, restructured repayment plan to pay the filer’s creditors within three to five years. In some cases the repayment schedule may allow for more favorable repayment options.
Filing Chapter 13 bankruptcy is not available for all Marietta residents. To file Chapter 13 bankruptcy in Marietta, the filer must have a dependable income source to make the required bankruptcy payments. The filer also can not have secured debt which is greater than $807,750 or unsecured debt which is greater than $269,250.
Personal Debts Not Eliminated By Filing Personal Bankruptcy in Marietta
Filing Chapter 7 bankruptcy or Chapter 13 bankruptcy in Marietta will only eliminate debt which is defined as dischargeable under federal bankruptcy law. Dischargeable debt is the same for all of the states. Filing bankruptcy in Marietta, Georgia, does not discharge the following debts:
Thousands of Atlanta, Georgia, residents are unable to pay their bills or meet their financial obligations due to the economic downtown. If you are facing home foreclosure or unable to pay your credit card bills you are not alone.
No one wants to have to file bankruptcy and it is a difficult decision which should only be done after your other financial options are exhausted, but filing bankruptcy in Atlanta may allow you to dismiss most or all of your unsecured debt or develop a repayment schedule to repay your debt and allow you to make a fresh financial start. If you have questions about filing bankruptcy in Atlanta, an Atlanta bankruptcy attorney is available to answer your questions and help you determine if you can file Chapter 7 or Chapter 13 bankruptcy.
Filing Chapter 7 Bankruptcy in Atlanta
Filing Chapter 7 bankruptcy in Atlanta may allow a filer to eliminate or discharge most of their unsecured personal debt. Dischargeable debts are determined by federal bankruptcy law (not all debts are eligible for discharge), but qualifying debt may include medical bills and credit card debt.
The first step in the Chapter 7 bankruptcy process is to contact an Atlanta bankruptcy lawyer who can determine through the bankruptcy “means test” if the filer is eligible to file Chapter 7 bankruptcy in Atlanta. If they are, the Atlanta bankruptcy attorney can file the bankruptcy petition in the appropriate bankruptcy court. The petition contains a list of the filer’s debts, non-exempt and exempt assets and the names of their creditors.
The bankruptcy court will review the petition, schedule the 341 Creditor’s Meeting and assign a trustee to sell the filer’s non-exempt assets and take the money from the sale and repay the filer’s creditors. Most debt is discharged within four to six months after the petition is filed.
Filing Chapter 13 Bankruptcy in Atlanta
Chapter 7 bankruptcy is a liquidation of assets. Chapter 13 bankruptcy is a reorganization of debt. One benefit of filing Chapter 13 bankruptcy in Atlanta is the filer may be able to retain their property and stop home foreclosure. Filing Chapter 13 bankruptcy may allow them to avoid selling their assets, and instead, allow them to restructure their debt payments over a three to five year payment period.
Not all residents can file Chapter 13 bankruptcy in Atlanta. Filers will need a steady income source to qualify for Chapter 13 bankruptcy and can not have secured debt exceeding $807,750 or unsecured debt exceeding $269,250.
Personal Debts Not Eliminated By Filing Personal Bankruptcy in Atlanta
Filing Chapter 13 bankruptcy or filing Chapter 7 bankruptcy in Atlanta does not discharge all personal debt. Debts not eliminated by filing bankruptcy are documented in federal bankruptcy law and are the same for all states. Filing bankruptcy in Atlanta, Georgia, will not eliminate the following personal debts:
Interesting question, isn’t it? In my experience, there is a broad spectrum of people filing bankruptcy in Atlanta. But the people at FancyStats.com have created a graphic with demographic data showing that the average person who filed bankruptcy in 2008 was a married Caucasian, between 35-44 years old, with a high school diploma, who made less than $30,000 a year.
I think you can find more diversity in the numbers than that, so I included their graphic so you can make a decision for yourself.
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I read an article on Forbes.com yesterday written by Stephane Fitch that provides some good information for those who are seeking to lower their house payment in order to stay in their home.
Now some may say that the Making Home Affordable program is a waste of taxpayer money, but the since it is out there, people in need should take advantage.
The first thing you have to know if you want to participate is what percentage of your gross monthly income goes toward paying your house payment. The number includes payments on the principal, interest, taxes and insurance on your home. If it isn’t greater than 31 percent, you are out of luck and need to find another way to ease your financial burden. Maybe filing bankruptcy will help?
If you made it through the first test, then you have to find out if Fannie Mae or Freddie Mac, the government-backed mortgage holders, own your mortgage. You can do this by visiting the Web sites of each lender and enter information about your home.
Once that is determined, get ready for the negotiations with the bank that is servicing your mortgage. While Fannie Mae or Freddie Mac own your mortgage, they count on the banks that service the mortgages to handle the paperwork involved in the process and decide which homeowners qualify.
Each case will be treated differently. If your house payment is more than 31 percent of your monthly income, the bank will use other costs that you have to determine if you can still make the payment if the interest rate is lowered.
You have to already be behind on payments to be considered by most banks. They will take into consideration how much savings you have, income prospects over the next nine months to one year, and other monthly expenses that you incur.
It isn’t likely that they are going to approve a modification if you are spending a large percentage of your income on health club memberships and private school tuition. It will be a subjective and sometimes humiliating look at your financial situation.
Of course, a report in the Wall Street Journal today says that some lenders are starting to write off principal when modifying troubled mortgages. It says that 10 percent of the modifications approved in the second quarter of this year involved principal reduction.
What you have to remember is that there are lots of options out there. It is also important to remember that these are business transactions. You have every right to use all the tools and programs available to you to save your home. And remember, you can still file bankruptcy to prevent foreclosure on your home.
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In the hopes of saving your home from foreclosure, you may have sought help from one of the many reputable firms that are helping homeowners who are in dire straits. Then again, you may have contacted one of the two companies that are accused by the Federal Trade Commission of charging large fees and providing little or no assistance.
The FTC announced today that it has filed charges against Nations Housing Modification Center and Infinity Group Services. The government also accuses the two companies of posing as government agencies.
Phony foreclosure rescue scams cost you valuable time and money. Talk to a bankruptcy attorney today to find out how Chapter 13 bankruptcy stops foreclosure and restructures your debts so that you can afford to stay in your home.
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If you are facing property repossession, wage garnishments or home foreclosure due to high medical bills, credit card debt or job loss, you may be looking for a financial solution. Thousands of Georgia residents have found financial relief by filing bankruptcy.
Filing Chapter 7 bankruptcy in Dalton, Georgia, may allow you to discharge most or all of your debt within four to six months. Individuals who do not qualify for Chapter 7 bankruptcy may be able to restructure their debt and make payments over a three to five year period.
Filing personal bankruptcy is a serious financial decision which has become more complicated in recent years. It is a good idea to seek the advice of a Dalton bankruptcy lawyer before making a final decision. A Dalton bankruptcy attorney can determine if filing Chapter 7 bankruptcy or filing Chapter 13 bankruptcy is right for you.
Filing Chapter 7 Bankruptcy in Dalton
The first step in filing Chapter 7 bankruptcy is to submit the bankruptcy petition to the appropriate bankruptcy court. The petition provides the court information about the filer’s debts, creditors, exempt and non-exempt property. The court reviews the petition and schedules the 341 Creditor’s Meeting. The court assigns a trustee who is responsible for selling the filer’s non-exempt assets and using the money generated from the sale to repay the creditors in the priority order according to bankruptcy law. Most Chapter 7 bankruptcy cases are completed within 4 to 6 months.
Chapter 7 bankruptcy is inexpensive and it can be a simple way to discharge qualifying debt. Not all debt is dischargeable. Non-dischargeable debt is determined by federal bankruptcy laws. Credit card debt and medical bills generally are dischargeable. A Dalton bankruptcy lawyer can identify all dischargeable debts and also if an individual qualifies to file Chapter 7 bankruptcy.
Filing Chapter 13 Bankruptcy in Dalton
Filing Chapter 13 bankruptcy in Dalton is not as simple or quick as filing Chapter 7 bankruptcy. Filing Chapter 13 bankruptcy will not allow for the immediate discharge of debt through liquidation of the filer’s assets, but it may stop home foreclosure and allow the filer to maintain their property. Filing Chapter 13 bankruptcy in Dalton may also allow the filer and their Dalton bankruptcy attorney to create a repayment plan which repays creditors over a three to five year time period.
To qualify for Chapter 13 bankruptcy a Dalton resident must have an income source and be able to meet the obligations of the repayment schedule. The filer also can not have secured debt which exceeds $807,750 or unsecured debt which exceeds $269,250.
Personal Debts Not Eliminated By Filing Personal Bankruptcy in Dalton
Personal debts not eliminated by filing Chapter 7 or Chapter 13 bankruptcy in Dalton are defined by federal bankruptcy laws and are the same for all states. Filing personal bankruptcy in Dalton will not discharge:
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