FAQ
Chapter 7 bankruptcy is filed when a Debtor cannot afford to make a meaningful payback to Creditors. Most unsecured debts are discharged (wiped out). Secured debts, such as cars, houses, and furniture, can continued to be paid directly by the Debtor if he desires to keep the collateral. However, the Debtor’s property is not protected, meaning
Creditor’s can repossess or foreclose on the property if they so desire. Furthermore, if there is significant equity in any Assets, then the Court can potentially sell the Asset and pay creditors with the profit.
There are many Bankruptcy exemptions and they differ from state to state. Only once we have a complete list of all your Assets can we give you a clear answer.
You must not have been granted a Chapter 7 discharge within the last 8 years or completed a Chapter 13 plan within the last six years with a repayment of less than 70% to unsecured creditors.
The most common reasons for bankruptcy are (a) loss of a job or long-term layoffs; (b) loss of overtime hours; (c) large medical expenses or lengthy illnesses; (d) death or disability of a spouse; (e) separation, divorce and marital problems; (g) large unanticipated expenses.
No. However, a Spouse’s income must be disclosed to the Court, even if that Spouse is not part of the case.
The amount of your Chapter 13 payments are based upon your income, monthly expenses, and the amount and type of your debts.
Yes, a Chapter 13 case protects all of your property.
Chapter 13 repayment Plans last from 3 to 5 years. Upon completion of the Plan, all of the debts are legally forgiven forever.
All creditor actions, including phone calls, garnishments, and lawsuits, are immediately stopped when a case is filed.
Yes. All collection efforts, including garnishments, are immediately stopped when a case is filed. (Except for regular monthly child support payments)
Yes, all foreclosures are immediately stopped when a case is filed. The Debtor must make all future mortgage payments in a timely manner in order to retain the house.
Yes. Most civil judgments are stopped by bankruptcy.
After your bankruptcy is filed, the Bankruptcy Court mails a notice to all the creditors you listed in your case. This usually takes 4-7 days.
Yes. Usually about 30 days after you file the bankruptcy, you will have to attend an informal hearing conducted by the Trustee. The hearing will take place in Newnan, Georgia. At this hearing, the Trustee will ask you questions under oath regarding your income, expenses, assets and debts. Your attorney will be there with you and will help you prepare for the hearing. After this hearing you will normally not need to return to court unless specific problems cannot be resolved otherwise.
You should tell the creditor your bankruptcy case number, and refer all creditors and bill collectors to your attorney.
Generally you can add a creditor that was unintentionally omitted if your case is still open. The Court charges a small fee for the Amendment.
You can choose to have the debt included in your repayment plan, or if the cosigner desires to pay for the debt, you can specify that the Cosigner will pay for the debt directly.
Unsecured creditors do not receive any interest in a chapter 13 case. Interest rates on secured debts, such as cars and furniture, are reduced substantially.
A Last Will and Testament is a document that allows you to give property at the time of your death to the person you want to have it. A Will also typically names someone to carry out your wishes (an Executor) and also names a Guardian if you have minor children.
All adults need a will, especially if you are married, have children, or have any assets. In addition to distributing your assets to the persons you desire, a will allows you to specify the individual you would like to have custody of your minor children, and also specify your wishes for your final resting place. Having a valid will ensures that your property will be distributed according to your wishes without significant costs.
If you die without a will, then state law will determine the individuals who will receive your property, and the Courts will decide the remaining issues. For example, the court will appoint a guardian for any minor children. Also, the court will appoint an administrator to distribute your property, and allow the administrator to retain a fee for his work.
We generally charge a flat fee of $1,000 for an Estate Package. An Estate Package includes a will for you and a spouse, a medical directive, and a power of attorney.
The state of Georgia allows an adult person to make a written directive known as a Living Will, instructing his physician to withhold or withdraw life sustaining procedures in the event of a terminal condition. The Will takes effect immediately, hence the term “living” will.
We generally charge a flat fee of $275 for all wills. Living Wills and Power of Attorneys are generally $75 each.
If you die without a will, then state law will determine the individuals who will receive your property, and the Courts will decide the remaining issues. For example, the court will appoint a guardian for any minor children. Also, the court will appoint an administrator to distribute your property, and allow the administrator to retain a fee for his work.
In the current system, when a veteran is dissatisfied with the decision of the VA and wants to preserve the date of the claim, he has only one route: file a Notice of Disagreement.
Agent Orange was a tactical herbicide used by the U.S. military for control of vegetation. If you served in the Vietnam War or at the Korean DMZ between 1962 and 1975, chances are you were exposed.
Generally, you have one year to enter your appeal if you want to continue your case.
When it comes to compensation claims related to service, the VA does not add whole numbers together to get your rating. Using this system, the VA takes percentages of percentages.
Additionally known as Gulf War Syndrome, a significant number of acute and/or chronic symptoms have been linked to Gulf War Syndrome. These include fatigue, muscle pain, cognitive problems, insomnia, rashes and gastrointestinal problems. At least a third of the nearly 700,000 U.S. veterans who served in the 1991 Gulf War are afflicted with enduring chronic multi-symptom illness, a condition with serious consequences.
The term "Airborne Hazard" refers to any sort of airborne contaminant or toxic substance that veterans are exposed to through the air they breathe. Many military service members were likely exposed to airborne hazards through the following:
The smoke and fumes from open burn pits
Sand, dust, and particulate matter
General air pollution common in certain countries
Fuel, aircraft exhaust, and other mechanical fumes
Smoke from oil well fires
Many service members were exposed to a number of different hazardous substances, including the following:
Asbestos
Extreme Noise
Industrial Solvents
Lead
Radiation
Fuels
PCBs and other coolants
CARC Paint
and many others
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