Savannah GA Bankruptcy Lawyer | Georgia Attorney

Mark Bandy Savannah GA Bankruptcy Lawyer

2010-10-30T13:12:00.000-04:00

Savannah GA Bankruptcy Lawyer
Mark Bandy
102 Brandywine Rd.
Savannah, GA 31405

Bankruptcy will discharge most of your debts and give you a fresh start. The following debts however will not be discharged by bankruptcy:taxes; spousal and child support; debts arising out of willful misconduct and or malicious misconduct by the debtor; liability for injury or death from driving while intoxicated; non-dischargeable debts from a prior bankruptcy; student loans; criminal fines and penalties and forfeitures. It does not discharge the debtor from any debt incurred for money, property, services, or an extension, renewal, or refinancing of credit, to the extent obtained by false pretenses, a false representation, or actual fraud, other than a statement respecting the debtor’s or an insider’s financial condition.

--------------------- Savannah Georgia bankruptcy lawyer - Filing for Chapter 13 Bankruptcy and Chapter 7 Bankruptcy in Savannah

Bankruptcy in Savannah, Georgia

2010-05-01T08:22:00.000-04:00

Bankruptcy law is a federal statutory law contained in Title 11 of the United States Code. The United States Constitution, in Section 8, grants Congress the power to create uniform laws on the subject of bankruptcies all over the US. States do not regulate bankruptcy but they may pass laws that influence other areas of the debtor-creditor relationship. Therefore it is important to understand the federal laws that apply to bankruptcy as well as any state laws that are applicable.
In April 2005 some big changes to bankruptcy laws were made by the Bankruptcy Abuse Prevention and Consumer Protection Act, affecting all bankruptcies filed after October 2005. The assets in Individual Retirement Accounts are exempt assets and cannot be sold to pay creditors. To limit the availability of a Chapter 7 discharge of debt, the regulations have been significantly changed. A Means test now determines eligibility for filing Chapter 7. Debtors should attend in approved credit counseling before they can file bankruptcy. Filing fees have been increased and as a result attorney fees have also increased.
There is a great amount of misinformation out there for persons considering bankruptcy. If you are considering about filing bankruptcy, there is no reason to worry by this test. If you are well below the state median income, you will be unaffected. Even debtors who are above the state median income often are eligible for chapter 7 as the expenses are high enough to qualify. However, if your income is near your state's median, you should consult a seasoned bankruptcy in Savannah, Georgia.

---------------------Savannah Georgia bankruptcy lawyer | Bankruptcy attorneys in Savannah GA and Richmond Hill - Filing for Chapter 13 Bankruptcy and Chapter 7 Bankruptcy in Savannah GAhttp://www.savannahgabankruptcy.com

Savannah, Georgia personal bankruptcy attorney

2010-04-30T08:22:00.000-04:00

In 2005 the US Bankruptcy Code was changed mandating that debtors qualify to seek protection under Chapter 7 bankruptcy. The debtor must first take the Means Test. If the Means Test establishes that the debtor can file for a Chapter 7 bankruptcy then it is important to understand that there are other conditions. All individuals filing for Chapter 7 bankruptcy protection must attend a debt counseling course within six months of filing for Chapter 7 protection. In addition the debtor will also be made to undergo a financial education course before discharge of the debts. All persons considering bankruptcy should consult with an experienced Savannah, Georgia personal bankruptcy as the changes to Federal Bankruptcy Code have now made it difficult to qualify for Chapter 7. Prior to filing for bankruptcy under either Chapter 7 or Chapter 13, you should complete credit counseling with a United States Trustee approved agency. The list of approved agencies is available on the United States Trustee’s website located at www.usdoj.gov/ust. This counseling is meant to give you an idea of whether there is a real requirement to file for bankruptcy or if an informal repayment plan would will be sufficient.

---------------------Savannah Georgia bankruptcy lawyer | Bankruptcy attorneys in Savannah GA and Richmond Hill - Filing for Chapter 13 Bankruptcy and Chapter 7 Bankruptcy in Savannah GAhttp://www.savannahgabankruptcy.com

Savannah, Georgia chapter 7 business bankruptcy attorney

2010-04-29T08:21:00.000-04:00

A Chapter 7 case starts with the debtor filing a petition with the bankruptcy court. Along with the petition, the debtor should also file with the court several schedules of assets and liabilities, details of current income and expenditures, a statement of financial affairs, and details of executory contracts and unexpired leases. The schedules and statements must contain the following information:
Details of of all creditors and the amount and nature of their claims;
The source, amount, and frequency of the debtor's income;
A list of all of the debtor's property; and
Details of of the debtor's monthly living expenses (food, clothing, shelter, utilities, taxes, transportation, medicine, etc.).
Businesses intending to file Chapter 7 must seek the help of a seasoned Savannah, Georgia chapter 7 business bankruptcy attorney since the chapter 7 business bankruptcy process is complex.

Under Chapter 7, the business stops its activities and goes completely out of business. A trustee is appointed to liquidate the business’s assets and the money is used to pay off the debt, which can include debts to creditors and investors.
The first to be paid are the investors who take the least risk. Secured creditors take less risk due to the fact that the credit that they extend is usually backed by collateral, such as a mortgage or other assets of the company. They realize they will get paid first if the business files for bankruptcy protection.
Bondholders have greater chances for recovering their investments than stockholders, as bonds are the debt of the business and the business has accepted to pay bondholders interest and to return their principal. Stockholders own the business, and take more risk. They could make larger amounts of money when the business does well, but they could lose money if the business does poorly. The owners are the last to be repaid if the company closes. Bankruptcy laws decide the order of payment.

---------------------Savannah Georgia bankruptcy lawyer | Bankruptcy attorneys in Savannah GA and Richmond Hill - Filing for Chapter 13 Bankruptcy and Chapter 7 Bankruptcy in Savannah GAhttp://www.savannahgabankruptcy.com

Savannah, Georgia bankruptcy trustee

2010-04-28T08:20:00.000-04:00

A Savannah, Georgia bankruptcy trustee in can use, sell, or lease property in the debtor's estate in the usual course of business. Besides, a bankruptcy court can authorize a trustee to operate the filer’s business for a some time when continued operation is in the best interests of the all. For instance, if the farm debtor is in the hog business and the estate consists of hogs of different sizes, the trustee can be permitted to feed the hogs till they attain market weight so as to maximize the amount recovered by the estate. However, if the livestock belonging to a farm debtor is subject to a valid, perfected security interest, the trustee will not, in almost all cases, undertake the further care and feeding of the livestock. Instead, the trustee may abandon the property so as to restrict the estate's continued responsibility. Even though the appointment of a case trustee is rarely occurs in a chapter 11 case, a party in interest or the United States trustee may seek the appointment of a case trustee or examiner at any time prior to confirmation in a chapter 11 proceeding. The court, on request by a party in interest or the United States trustee and upon notice and hearing, can direct the appointment of a case trustee for cause, including fraud, dishonesty, incompetence, or gross mismanagement, or if such an appointment is in the interest of creditors, any equity security holders, and other interests of the estate.

---------------------Savannah Georgia bankruptcy lawyer | Bankruptcy attorneys in Savannah GA and Richmond Hill - Filing for Chapter 13 Bankruptcy and Chapter 7 Bankruptcy in Savannah GAhttp://www.savannahgabankruptcy.com

Savannah, Georgia Chapter 13 attorney

2010-04-27T08:19:00.000-04:00

Any person, either self employed or working in any organization can file a chapter 13 bankruptcy in Savannah, Georgia and seek protection under it. The only criteria is that the unsecured debts must be below $336,900 and secured part of the debts below $ 1,010,650. No organization can seek help or file chapter 13. A person cannot file for chapter 13 if his bankruptcy petition was dismissed 180 days before the filing. An experienced Savannah, Georgia Chapter 13 Bankruptcy can assist you file for Chapter 13 Bankruptcy. Bankruptcy is a really bad situation to be in, for any person or an organization. However even in such tough times, there are ways to tackle such situations. Chapter 13 Bankruptcy helps individuals only, to come out of financial crisis under the guidance of a federal bankruptcy court. A debtor having a regular income can restructure his financial position with the assistance of Chapter 13 Bankruptcy. The debtor has to propose a plan with the assistance of which he or she can repay all his outstanding debts in three to five. 5 years is the maximum time period of the repayment plan for a Chapter 13 Bankruptcy in Savannah, Georgia.

---------------------Savannah Georgia bankruptcy lawyer | Bankruptcy attorneys in Savannah GA and Richmond Hill - Filing for Chapter 13 Bankruptcy and Chapter 7 Bankruptcy in Savannah GAhttp://www.savannahgabankruptcy.com

Savannah, Georgia individual bankruptcy attorney

2010-04-26T08:19:00.000-04:00

An individual can file for bankruptcy under Chapter 7 in Savannah, Georgia and can have certain debts discharged if they meet the necessary criteria. The necessary criteria were established by the BACCP Act and now include both a means test and the necessity to receive credit counseling. The process is complex and you must hire the services of a Savannah, Georgia ndividual bankruptcy attorney
Before being permitted to file a Chapter 7 bankruptcy a person must prove that their disposable income is below a certain limit which will differ slightly from state to state depending on the average income of the state.
The individual is also required to have received credit counseling from an accredited organization at some stage in the 180 days preceeding their bankruptcy petition.
When a Chapter 7 petition has been filed in Savannah, Georgia, an impartial trustee will be appointed to sell the non-exempt assets of the filer. The trustee often will be a lawyer or someone who knows the bankruptcy rules and the courts. The trustee must conduct a meeting of creditors, usually within 40 days from the filing date. The filer must attend this meeting and must submit to an examination under oath. The examination usually is restricted to questions about the extent and whereabouts of the filer’s assets. However, a trustee may ask questions that ensure the filer is aware of the potential effects of bankruptcy, including the effect on his credit history, ability to file a petition under a different chapter, the effect of receiving a discharge, and the effect of reaffirming a debt. The initiation of a Chapter 7 case in Savannah, Georgia under the United States Bankruptcy Code creates a bankruptcy estate. The trustee is entrusted with selling all property of the estate.

---------------------Savannah Georgia bankruptcy lawyer | Bankruptcy attorneys in Savannah GA and Richmond Hill - Filing for Chapter 13 Bankruptcy and Chapter 7 Bankruptcy in Savannah GAhttp://www.savannahgabankruptcy.com

Savannah, Georgia bankruptcy attorney

2010-04-25T08:18:00.000-04:00

Typically, people are concerned about who will find out about their bankruptcy. Your employer and your landlord will not be informed. You can technically file for bankruptcy every eight years under Chapter 7. In Chapter 13, you can file as many times as is necessary as long as you have paid at least 70% of the unsecured debt in your last Chapter 13 filing.

All taxes will not be discharged by filing bankruptcy. However, under Chapter 13, you may not be required to pay interest or penalties. Under Chapter 7 some taxes may be discharged. A seasoned Savannah, Georgia bankruptcy attorney can asssit you differentiate between those that may be discharged from the others.
The bankruptcy procedure in Savannah, Georgia has become more complicated and requires detailed planning and consideration. Hence selecting a seasoned bankruptcy attorney in Savannah, Georgia is more important now than ever before. Trying to go through the procedure by yourself is a huge error and so is the decision to file before talking to an experienced Savannah, Georgia bankruptcy attorney.

---------------------Savannah Georgia bankruptcy lawyer | Bankruptcy attorneys in Savannah GA and Richmond Hill - Filing for Chapter 13 Bankruptcy and Chapter 7 Bankruptcy in Savannah GAhttp://www.savannahgabankruptcy.com

Savannah, Georgia Chapter 13 Bankruptcy attorney

2010-04-24T08:17:00.000-04:00

The Chapter 13 Bankruptcy has many added advantages over the Chapter 7 Bankruptcy. Unlike Chapter 7 Bankruptcy, in a Chapter 13 Bankruptcy, the individual can at least save his home from foreclosure. All proceedings will be stayed when he files for Chapter 13 Bankruptcy. He will get a period of 3-5 years to pay off his creditors. A Chapter 13 Bankruptcy allows the individual to reallocate secured debts. It can over a time period, reduce the payments which he should make. Finally the debtor will not have any connection or contact with the creditors when he or she has filed Chapter 13 Bankruptcy.
A Savannah, Georgia Chapter 13 Bankruptcy can help you file for Chapter 13 Bankruptcy. Any person, either self employed or employed with an organization can file a chapter 13 bankruptcy in Savannah, Georgia and get protection under it. The only condition is that the unsecured debts must be below $336,900 and secured part of the debts less than $ 1,010,650. No corporation may seek assistance or file chapter 13. A person cannot file for chapter 13 if his bankruptcy petition was dismissed 180 days prior to the filing.

---------------------Savannah Georgia bankruptcy lawyer | Bankruptcy attorneys in Savannah GA and Richmond Hill - Filing for Chapter 13 Bankruptcy and Chapter 7 Bankruptcy in Savannah GAhttp://www.savannahgabankruptcy.com

Savannah, Georgia Chapter 7 attorney

2010-04-23T08:17:00.000-04:00

Chapter 7 is about liquidating the filer’s assets rather than repayment. Previously filers could decide whether they wanted Chapter 7 or 13. However now, if their income is high, they do not have a choice and should file for Chapter 13. To file Chapter 7, a filer must show that his disposable income is less than a certain low sum of money. Consult with an experienced Savannah, Georgia Chapter 7 attorney to know if you qualify for Chapter 7. In Chapter 7, assets are sold and the proceeds are used to repay the debtor’s creditors. Chapter 13 is about repayment. All income goes into repaying creditors. When available income is more than that of the median in Georgia, the filer's permitted expenses will be decided by the IRS. This amount must come out of the filer's income during the six-month period preceding the filing. A chapter 11 debtor has a one-time absolute right to convert the chapter 11 proceeding to a case under chapter 7 except if (1) the debtor is not a debtor in possession, (2) the proceeding originally was started as an involuntary case under chapter 11, or (3) the proceeding was converted to a case under chapter 11 but not at the debtor's request. A debtor in a chapter 11 case does not have an absolute right to have the proceeding dismissed upon request. There are important exceptions to the conversion process in a chapter 11 proceeding. Unless the debtor requests the conversion, section 1112(c) of the United States Bankruptcy Code does not permit the court to convert a proceeding involving a farmer or charitable institution to a liquidation proceeding under chapter 7.

---------------------Savannah Georgia bankruptcy lawyer | Bankruptcy attorneys in Savannah GA and Richmond Hill - Filing for Chapter 13 Bankruptcy and Chapter 7 Bankruptcy in Savannah GAhttp://www.savannahgabankruptcy.com

Savannah, Georgia farm bankruptcy attorney

2010-04-22T08:16:00.000-04:00

Chapter 11 allows the debtor to operate its business through a plan of reorganization, which must fulfill certain statutory requirements. By legislating chapter 11, the Congress provided the debtor an opportunity to restructure its finances so that it can continue to operate, provide employment, pay its creditors, and provide a return for its stockholders. As chapter 11 deals with an ongoing business, the most likely individuals who have knowledge and details of the business will be the present managers who often continue operations during the chapter 11 proceeding. The main rationale of business reorganizations is that the value of an ongoing is greater than it would be if its assets were liquidated. Chapter 12 is a U.S. bankruptcy proceeding especially for family farms or fisheries that provides the farm or fishery owner the opportunity to reorganize his or her finances and debts while still retaining the farm or fishery. The farm or fishery owner will co-ordinate with a bankruptcy trustee and creditors to determine a payment program that will satisfy his or her owner obligations. The Chapter 12 proceeding in Savannah, Georgia can be availed by individually run family farms and fisheries and even those owned by a corporation or partnership. Chapter 12 was created in 1986 specifically for farms and fisheries to make the bankruptcy process easier for such business types. Before Chapter 12, farmers would have to either file for protection under Chapter 11, which was very expensive and is basically for big companies, or Chapter 13, which is basically for those with relatively small outstanding debts (generally not the case for farms and fisheries). Farm debtors looking to file for bankruptcy should contact a Savannah, Georgia farm bankruptcy attorney to know about the options.

---------------------Savannah Georgia bankruptcy lawyer | Bankruptcy attorneys in Savannah GA and Richmond Hill - Filing for Chapter 13 Bankruptcy and Chapter 7 Bankruptcy in Savannah GAhttp://www.savannahgabankruptcy.com

Bankruptcy in Savannah, GA

2010-04-21T08:15:00.000-04:00

Title 11 of the United States Code contains the federal bankruptcy law. The The Constitution of the United States, in Section 8, grants Congress the power to create uniform rules on the subject of bankruptcies throughout the US. States don’t regulate bankruptcy but they can pass statutes that affect other aspects of the debtor-creditor relationship. Therefore it is important to understand the federal laws that apply to bankruptcy as well as any state laws that may apply.
In April 2005 some major changes to bankruptcy rules were made with the Bankruptcy Abuse Prevention and Consumer Protection Act, affecting all bankruptcies filed after October 2005. The assets in Individual Retirement Accounts are protected and are exempt from liquidation to pay creditors. To restrict the availability of a Chapter 7 discharge of debt, the guidelines have been significantly changed. A Means test now determines eligibility for filing Chapter 7. Debtors should attend in approved credit counseling prior to filing for bankruptcy. Filing fees were increased and as a result lawyer fees have also gone up.
There is a lot of misinformation available there for debtors contemplating bankruptcy. If you are considering about filing bankruptcy, there is no reason to panic by the means test. If you are well below the state median income, you will be unaffected. Even debtors who are above the state median income generally can qualify for chapter 7 because the expenses are way too high to qualify. But, if your income is near your state's median, you must contact a seasoned bankruptcy in Savannah, GA.

---------------------Savannah Georgia bankruptcy lawyer | Bankruptcy attorneys in Savannah GA and Richmond Hill - Filing for Chapter 13 Bankruptcy and Chapter 7 Bankruptcy in Savannah GAhttp://www.savannahgabankruptcy.com

Savannah, GA personal bankruptcy attorney

2010-04-20T08:14:00.000-04:00

In 2005 the US Bankruptcy Code was altered mandating that debtors qualify to seek protection under Chapter 7 bankruptcy. The debtor must first take the Means Test. If the Means Test establishes that the debtor can file for a Chapter 7 bankruptcy then it is important to know that there are other requirements. All individuals seeking Chapter 7 bankruptcy protection has to undergo a debt counseling course within six months of filing for Chapter 7 bankruptcy. In addition the debtor may also be made to attend a financial education course prior to discharge of the debts. All persons considering bankruptcy must consult with an experienced Savannah, GA personal bankruptcy since the changes to United States Bankruptcy Code have now made it difficult to qualify for Chapter 7. Prior to filing for bankruptcy under either Chapter 7 or Chapter 13, you should undergo credit counseling with a United States Trustee approved agency. The list of approved agencies is available on the United States Trustee’s website located at www.usdoj.gov/ust. This counseling is meant to give the debtor an idea of whether there is a genuine requirement to file for bankruptcy or if an informal repayment plan would will be enough.

---------------------Savannah Georgia bankruptcy lawyer | Bankruptcy attorneys in Savannah GA and Richmond Hill - Filing for Chapter 13 Bankruptcy and Chapter 7 Bankruptcy in Savannah GAhttp://www.savannahgabankruptcy.com

Savannah, GA chapter 7 business bankruptcy attorney

2010-04-19T08:14:00.000-04:00

A Chapter 7 case starts with the debtor filing a petition with the bankruptcy court. In addition to the petition, the debtor must also file with the court several schedules of assets and liabilities, details of current income and expenditures, a statement of financial affairs, and details of executory contracts and unexpired leases. The schedules and statements must contain the following information:
A list of all creditors and the amount and nature of their claims;
The source, amount, and frequency of the debtor's income;
Details of of all of the debtor's property; and
Details of of the debtor's monthly living expenses (food, clothing, shelter, utilities, taxes, transportation, medicine, etc.).
Businesses intending to file Chapter 7 must seek the help of a seasoned Savannah, GA chapter 7 business bankruptcy attorney since the chapter 7 business bankruptcy process is complex.

Under Chapter 7, the business stops all activities and goes completely out of business. A trustee is appointed to sell the business’s assets and the money is used to pay off the debt, which can include debts to creditors and investors.
The first to be paid are the investors who take the least risk. Secured creditors take less risk due to the fact that the credit that they give is typically backed by collateral, such as a mortgage or other assets of the company. They realize they will get paid first if the company files for bankruptcy protection.
Bondholders have greater chances of recovering their investments than stockholders, because bonds represent the debt of the business and the business has accepted to pay bondholders interest and to pay back their principal. Stockholders own the business, and take more risk. They can make larger amounts of money if the business does well, but they could lose money if the company does poorly. The owners are last in line to be repaid if the company fails. Bankruptcy laws decide the order of payment.

---------------------Savannah Georgia bankruptcy lawyer | Bankruptcy attorneys in Savannah GA and Richmond Hill - Filing for Chapter 13 Bankruptcy and Chapter 7 Bankruptcy in Savannah GAhttp://www.savannahgabankruptcy.com

Savannah, GA bankruptcy trustee

2010-04-18T08:13:00.000-04:00

A Savannah, GA bankruptcy trustee in may use, sell, or lease property in the debtor's estate in the usual course of business. In addition, the bankruptcy court will authorize a trustee to operate the filer’s business for a limited period when continued operation is in the best interests of the all. For instance, when the farm debtor is in the hog business and the estate is made of hogs of varying sizes, the trustee may be allowed to feed the hogs until they attain market weight so as to maximize the amount recovered by the estate. But, when the livestock belonging to a farm debtor is subject to a valid, perfected security interest, the trustee will not, in most cases, undertake the further care and feeding of the livestock. Rather, the trustee will likely abandon the property so as to restrict the estate's continued responsibility. Though the appointment of a case trustee is rarely occurs in a chapter 11 case, a party in interest or the United States trustee may apply for the appointment of a case trustee or examiner at any time before confirmation in a chapter 11 case. The judge, on application by a party in interest or the United States trustee and upon notice and hearing, may direct the appointment of a case trustee for cause, including fraud, dishonesty, incompetence, or gross mismanagement, or if such an appointment is in the interest of creditors, any equity security holders, and other interests of the estate.

---------------------Savannah Georgia bankruptcy lawyer | Bankruptcy attorneys in Savannah GA and Richmond Hill - Filing for Chapter 13 Bankruptcy and Chapter 7 Bankruptcy in Savannah GAhttp://www.savannahgabankruptcy.com

Savannah, GA Chapter 13 attorney

2010-04-17T08:11:00.000-04:00

Any person, either self employed or employed with any organization can file a chapter 13 bankruptcy in Savannah, GA and obtain protection under it. The only condition is that his unsecured debts should be less than $336,900 and secured part of the debts less than $ 1,010,650. No organization can seek help or file chapter 13. An individual cannot file for chapter 13 if his bankruptcy application was dismissed 180 days before the filing. An experienced Savannah, GA Chapter 13 Bankruptcy can help you file for Chapter 13 Bankruptcy. Bankruptcy is a very bad situation to be in, for any person or an organization. But even in such difficult times, there are ways to handle such situations. Chapter 13 Bankruptcy enables individuals only, to work out of financial crisis under the guidance of a federal bankruptcy court. The debtor with a regular income can restructure his financial position with the help of Chapter 13 Bankruptcy. The debtor should propose a plan with the assistance of which he or she can repay all his outstanding debts in 3 to 5 years. Five years is the maximum time period of the repayment plan for a Chapter 13 Bankruptcy in Savannah, GA.

---------------------Savannah Georgia bankruptcy lawyer | Bankruptcy attorneys in Savannah GA and Richmond Hill - Filing for Chapter 13 Bankruptcy and Chapter 7 Bankruptcy in Savannah GAhttp://www.savannahgabankruptcy.com

Savannah, GA individual bankruptcy attorney

2010-04-16T08:10:00.000-04:00

A person can file for bankruptcy under Chapter 7 in Savannah, GA and can have certain debts discharged when they fullfil the necessary criteria. These necessary criteria were established by the BACCP Act and now has both a means test and the necessity to undergo credit counseling. The process is complicated and you must use the services of a Savannah, GA ndividual bankruptcy attorney
Before being allowed to file a Chapter 7 bankruptcy an individual must prove that their disposable income falls below a certain threshold which can differ slightly from state to state based on the average income of that state.
The individual is also required to have undergone credit counseling from an accredited organization at some stage in the 180 days prior to the bankruptcy petition.
Once the Chapter 7 petition has been filed in Savannah, GA, an impartial trustee will be appointed to liquidate the non-exempt assets of the debtor. This trustee usually will be an attorney or someone who knows the bankruptcy laws and the legal systerm. The trustee must conduct a meeting of creditors, generally within 40 days after the date of filing. The debtor must attend the meeting and should submit to an examination under oath. The examination typically is limited to questions about the extent and whereabouts of the filer’s assets. However, the trustee may ask questions that ensure the debtor knows the likely consequences of bankruptcy, including the effect on his credit history, ability to file a petition under a different chapter, the effect of receiving a discharge, and the effect of reaffirming a debt. The filing of a Chapter 7 proceeding in Savannah, GA under the United States Bankruptcy Code creates a bankruptcy estate. The trustee is entrusted with selling all property of the estate.

---------------------Savannah Georgia bankruptcy lawyer | Bankruptcy attorneys in Savannah GA and Richmond Hill - Filing for Chapter 13 Bankruptcy and Chapter 7 Bankruptcy in Savannah GAhttp://www.savannahgabankruptcy.com

Savannah, GA bankruptcy attorney

2010-04-15T08:09:00.000-04:00

Generally, people are concerned about who will know about their bankruptcy. Your employer and your landlord will not be notified. You can technically file for bankruptcy every eight years in Chapter 7. In Chapter 13, you can file as many times as is required as long as you have paid at least 70% of the unsecured debt under your previous Chapter 13 filing.

All taxes are not wiped out by filing bankruptcy. However, under Chapter 13, you may not be required to pay interest or penalties. Under Chapter 7 certain taxes can be discharged. A seasoned Savannah, GA bankruptcy attorney could asssit you distinguish between those that may qualify from the others.
The bankruptcy procedure in Savannah, GA has become more complex and requires careful planning and consideration. Hence selecting a good bankruptcy attorney in Savannah, GA is more important now than ever before. Trying to go through this process by yourself is a huge mistake and so is the decision to file before talking to an experienced Savannah, GA bankruptcy attorney.

---------------------Savannah Georgia bankruptcy lawyer | Bankruptcy attorneys in Savannah GA and Richmond Hill - Filing for Chapter 13 Bankruptcy and Chapter 7 Bankruptcy in Savannah GAhttp://www.savannahgabankruptcy.com

Savannah, GA Chapter 13 Bankruptcy attorney

2010-04-14T08:08:00.000-04:00

A Chapter 13 Bankruptcy has many added benefits over a Chapter 7 Bankruptcy. Unlike Chapter 7 Bankruptcy, in the Chapter 13 Bankruptcy, an individual can at least save his home from foreclosure. All proceedings will come to halt when he files for Chapter 13 Bankruptcy. He will have a period of 3-5 years to pay off the creditors. A Chapter 13 Bankruptcy permits an individual to reallocate secured debts. It can over a time period, lower the payments that he must make. Finally a debtor will not have any connection or contact with the creditors if he or she has filed Chapter 13 Bankruptcy.
A Savannah, GA Chapter 13 Bankruptcy can help you file for Chapter 13 Bankruptcy. Any person, either self employed or employed with an organization can file a chapter 13 bankruptcy in Savannah, GA and seek protection under it. The only criteria is that his unsecured debts must be lower than $336,900 and secured part of the debts below $ 1,010,650. No organization can seek help or file chapter 13. An individual cannot file for chapter 13 when his bankruptcy application was dismissed 180 days prior to the filing.

---------------------Savannah Georgia bankruptcy lawyer | Bankruptcy attorneys in Savannah GA and Richmond Hill - Filing for Chapter 13 Bankruptcy and Chapter 7 Bankruptcy in Savannah GAhttp://www.savannahgabankruptcy.com

Savannah, GA Chapter 7 attorney

2010-04-13T08:07:00.000-04:00

Chapter 7 deals with liquidating the filer’s assets rather than repayment. Earlier filers could select whether they wanted Chapter 7 or 13. But now, if their income is high, they do not have a choice and will have to file under Chapter 13. In order to file Chapter 7, a filer must show that his disposable income is less than a certain low sum of money. Contact with an experienced Savannah, GA Chapter 7 attorney to know if you qualify for Chapter 7. Under Chapter 7, assets are sold and the proceeds are used to pay off the filer's debts. Chapter 13 is about repayment. All income goes into paying off debts. When available income is more than that of the median in Georgia, the filer's permitted expenses will be determined by the IRS. The amount should come out of the filer's income during the six-month period prior to the filing. A chapter 11 debtor has a one-time absolute right to convert the chapter 11 proceeding to a case under chapter 7 except if (1) the debtor is not a debtor in possession, (2) the case initially was started as an involuntary case under chapter 11, or (3) the proceeding was converted to a proceeding under chapter 11 but not at the debtor's request. A debtor in a chapter 11 proceeding does not have an absolute right to have the case dismissed upon request. There are major exceptions to the conversion process in a chapter 11 proceeding. Unless the debtor requests the conversion, section 1112(c) of the United States Bankruptcy Code does not permit the court to convert a proceeding involving a farmer or charitable institution to a liquidation case under chapter 7.

---------------------Savannah Georgia bankruptcy lawyer | Bankruptcy attorneys in Savannah GA and Richmond Hill - Filing for Chapter 13 Bankruptcy and Chapter 7 Bankruptcy in Savannah GAhttp://www.savannahgabankruptcy.com

Savannah, GA farm bankruptcy attorney

2010-04-12T08:07:00.000-04:00

Chapter 11 allows the debtor to operate its business through a plan of reorganization, which should meet certain statutory requirements. By creating chapter 11, the Congress provided the debtor a chance to restructure its finances so that it can continue to operate, provide employment, pay its creditors, and provide a return for its stockholders. Since chapter 11 envisions a running business, the most likely persons who have knowledge and details of the operation will be the present managers who often continue operations during the chapter 11 proceeding. A major rationale of business reorganizations is that the value of an ongoing is much more than it would be if its assets were liquidated. Chapter 12 is a U.S. bankruptcy chapter intended for family farms or fisheries that gives the farm or fishery owner the ability to reorganize his or her finances and debts while at the same time keeping the farm or fishery. The farm or fishery owner will work with the bankruptcy trustee and creditors to determine a payment program that will meet his or her owner obligations. The Chapter 12 proceeding in Savannah, GA is available for individually run family farms and fisheries and also those owned by a corporation or partnership. Chapter 12 was enacted in 1986 exclusively for farms and fisheries to make the bankruptcy process easier for such business types. Before Chapter 12, farmers would have to either file for protection under Chapter 11, which can be very costly and is mainly for big companies, or Chapter 13, which is basically for those with comparatively small outstanding debts (generally not the case for farms and fisheries). Farm debtors considering bankruptcy must contact a Savannah, GA farm bankruptcy attorney to know about the options.

---------------------Savannah Georgia bankruptcy lawyer | Bankruptcy attorneys in Savannah GA and Richmond Hill - Filing for Chapter 13 Bankruptcy and Chapter 7 Bankruptcy in Savannah GAhttp://www.savannahgabankruptcy.com

Bankruptcy in Richmond Hill, GA

2010-04-11T08:06:00.000-04:00

Bankruptcy law is a federal statutory law contained in Title 11 of the United States Code. The US Constitution, in Section 8, gives Congress the power to establish uniform rules on the subject of bankruptcies all over the US. States don’t regulate bankruptcy but they can pass laws that affect other areas of the debtor-creditor relationship. So it is important to know the federal statutes that are applicable to bankruptcy as well as any state laws that are applicable.
Since April 2005 some big changes to bankruptcy rules were made with the Bankruptcy Abuse Prevention and Consumer Protection Act, affecting all bankruptcies filed after October 2005. The assets in Individual Retirement Accounts are exempt assets and cannot be sold to pay creditors. To restrict the availability of a Chapter 7 discharge of debt, the guidelines have been significantly revised. A Means test now determines if you are eligible for filing Chapter 7. Debtors must attend in approved credit counseling prior to filing for bankruptcy. Filing fees have been increased and subsequently attorney fees have also increased.
There is a lot of misinformation out there for debtors contemplating bankruptcy. If you are thinking about filing bankruptcy, there is no reason to worry by the means test. If you are well below the state median income, you will be unaffected. Even debtors who are above the state median income generally can qualify for chapter 7 because the expenses are high enough to qualify. However, if your income is near your state's median, you must consult a seasoned bankruptcy in Richmond Hill, GA.

---------------------Savannah Georgia bankruptcy lawyer | Bankruptcy attorneys in Savannah GA and Richmond Hill - Filing for Chapter 13 Bankruptcy and Chapter 7 Bankruptcy in Savannah GAhttp://www.savannahgabankruptcy.com

Richmond Hill, GA personal bankruptcy attorney

2010-04-10T08:06:00.000-04:00

In 2005 the US Bankruptcy Code was changed mandating that debtors qualify to file for Chapter 7 bankruptcy. The debtor has to first take the Means Test. If the Means Test establishes that the debtor can file for a Chapter 7 bankruptcy then it is important to understand that there are more requirements. All individuals filing for Chapter 7 bankruptcy protection has to undergo a debt counseling course within six months of filing for Chapter 7 protection. Also the debtor can also be made to attend a financial education course before discharge of the debts. All persons considering bankruptcy must consult with an experienced Richmond Hill, GA personal bankruptcy since the changes to US Bankruptcy Code have now made it tough to qualify for Chapter 7. Prior to filing for bankruptcy under either Chapter 7 or Chapter 13, you must undergo credit counseling with an agency approved by the United States Trustee's office. The United States Trustee’s website located at www.usdoj.gov/ist has the list of the approved agencies.. This counseling is meant to provide the debtor an idea of whether there is a real requirement to file for bankruptcy or if an informal repayment plan can will be enough.

---------------------Savannah Georgia bankruptcy lawyer | Bankruptcy attorneys in Savannah GA and Richmond Hill - Filing for Chapter 13 Bankruptcy and Chapter 7 Bankruptcy in Savannah GAhttp://www.savannahgabankruptcy.com

Richmond Hill, GA chapter 7 business bankruptcy attorney

2010-04-09T08:05:00.000-04:00

A Chapter 7 case starts when the debtor filing a petition with the bankruptcy court. Along with the petition, the debtor should also file with the court several schedules of assets and liabilities, details of current income and expenditures, a statement of financial affairs, and details of executory contracts and unexpired leases. The schedules and statements must contain the following information:
A list of all creditors and the amount and nature of their claims;
The source, amount, and frequency of the debtor's income;
Details of of all of the debtor's property; and
Details of of the debtor's monthly living expenses (food, clothing, shelter, utilities, taxes, transportation, medicine, etc.).
Businesses intending to file Chapter 7 should seek the help of a seasoned Richmond Hill, GA chapter 7 business bankruptcy attorney as the chapter 7 business bankruptcy process is complicated.

In Chapter 7, the company ceases its operations and exits the business completely. A trustee is appointed to liquidate the business’s assets and the money is used to pay off the debt, which may include debts to creditors and investors.
The first to be paid are the investors who take the least risk. Secured creditors take less risk as the credit that they extend is typically backed by collateral, like a mortgage or other assets of the company. They realize they will get paid first if the business files for bankruptcy protection.
Bondholders have more potential for recovering their investments than stockholders, because bonds are the debt of the business and the business has accepted to pay bondholders interest and to return their principal. Stockholders own the business, and take greater risk. They could make larger amounts of money if the business does well, but they can lose money if the company does badly. The owners are the last to be repaid if the company closes. Bankruptcy laws determine the order of payment.

---------------------Savannah Georgia bankruptcy lawyer | Bankruptcy attorneys in Savannah GA and Richmond Hill - Filing for Chapter 13 Bankruptcy and Chapter 7 Bankruptcy in Savannah GAhttp://www.savannahgabankruptcy.com

Richmond Hill, GA bankruptcy trustee

2010-04-08T08:04:00.000-04:00

The Richmond Hill, GA bankruptcy trustee in can use, sell, or lease property in the debtor's estate in the ordinary course of business. Besides, a bankruptcy court can allow a trustee to operate the filer’s business for a limited period when continued operation is in the best interests of the all. For example, when the farm debtor is in the hog business and the estate consists of hogs of varying sizes, the trustee can be allowed to feed the hogs until they attain market weight so as to maximize the amount recovered by the estate. But, if the livestock owned by a farm debtor is subject to a valid, perfected security interest, the trustee will not, in almost all cases, undertake the continued care and feeding of the livestock. Rather, he may abandon the property to restrict the estate's continued responsibility. Though the appointment of a case trustee is rarely occurs in a chapter 11 proceeding, a party in interest or the United States trustee may apply for the appointment of a case trustee or examiner at any time prior to confirmation in a chapter 11 proceeding. The judge, on application by a party in interest or the United States trustee and subsequent to notice and hearing, may direct the appointment of a case trustee for cause, including fraud, dishonesty, incompetence, or gross mismanagement, or if such an appointment is in the interest of creditors, any equity security holders, and other interests of the estate.

---------------------Savannah Georgia bankruptcy lawyer | Bankruptcy attorneys in Savannah GA and Richmond Hill - Filing for Chapter 13 Bankruptcy and Chapter 7 Bankruptcy in Savannah GAhttp://www.savannahgabankruptcy.com

Richmond Hill, GA Chapter 13 attorney

2010-04-07T08:04:00.000-04:00

Any individual, either self employed or working in any organization may file a chapter 13 bankruptcy in Richmond Hill, GA and obtain protection under it. The only condition is that the unsecured debts should be lower than $336,900 and secured part of the debts lower than $ 1,010,650. No corporation may seek help or file chapter 13. An individual cannot file for chapter 13 when his bankruptcy petition was dismissed 180 days before the filing. An experienced Richmond Hill, GA Chapter 13 Bankruptcy can help you file for Chapter 13 Bankruptcy. Bankruptcy is a really bad situation to be in, for any individual or an organization. But even in such tough times, there are ways to tackle such situations. Chapter 13 Bankruptcy assists individuals only, to work out of financial crisis under the guidance of a federal bankruptcy court. A debtor with a regular income can restructure his financial position with the help of Chapter 13 Bankruptcy. The debtor must submit a plan with the assistance of which he or she can repay all his outstanding debts in 3 to 5 years. Five years is the maximum time period of the repayment plan for a Chapter 13 Bankruptcy in Richmond Hill, GA.

---------------------Savannah Georgia bankruptcy lawyer | Bankruptcy attorneys in Savannah GA and Richmond Hill - Filing for Chapter 13 Bankruptcy and Chapter 7 Bankruptcy in Savannah GAhttp://www.savannahgabankruptcy.com

Richmond Hill, GA individual bankruptcy attorney

2010-04-06T08:03:00.000-04:00

A person can file for bankruptcy under Chapter 7 in Richmond Hill, GA and can have certain debts discharged when they fullfil the necessary criteria. These necessary criteria were established under the BACCP Act and now include both a means test and the requirement to receive credit counseling. The process is complex and you must hire the services of a Richmond Hill, GA ndividual bankruptcy attorney
Before being permitted to file a Chapter 7 bankruptcy an individual will need to prove that their disposable income falls below a certain threshold which can differ slightly from state to state depending on the average income of that state.
The individual is also required to have received credit counseling from an accredited organization at some stage in the 180 days before the bankruptcy petition.
Once the Chapter 7 petition has been filed in Richmond Hill, GA, an impartial trustee is appointed to liquidate the non-exempt assets of the filer. This trustee usually will be a lawyer or someone who is familiar with the bankruptcy rules and the courts. The trustee will conduct a meeting of creditors, generally within 40 days from the filing date. The debtor must attend the meeting and should submit to an examination under oath. The examination generally is restricted to questions about the extent and whereabouts of the filer’s assets. However, the trustee can ask questions that ensure the filer is aware of the likely effects of bankruptcy, including the effect on his credit history, ability to file a petition under a different chapter, the effect of receiving a discharge, and the effect of reaffirming a debt. The initiation of a Chapter 7 proceeding in Richmond Hill, GA under the Federal Bankruptcy Code creates a bankruptcy estate. A trustee is entrusted with selling all property of the estate.

---------------------Savannah Georgia bankruptcy lawyer | Bankruptcy attorneys in Savannah GA and Richmond Hill - Filing for Chapter 13 Bankruptcy and Chapter 7 Bankruptcy in Savannah GAhttp://www.savannahgabankruptcy.com

Richmond Hill, GA bankruptcy attorney

2010-04-05T08:03:00.000-04:00

Often, people are worried about who will find out about their bankruptcy. Your employer and your landlord will not be informed. You may technically file for bankruptcy every eight years in Chapter 7. In Chapter 13, you can file as many times as is necessary so long as you have paid at least 70% of your unsecured debt in your last Chapter 13 filing.

All taxes will not be wiped out by filing bankruptcy. But, in Chapter 13, you may not have to pay interest or penalties. Under Chapter 7 certain taxes may be discharged. A seasoned Richmond Hill, GA bankruptcy attorney could help you distinguish between those that may be discharged from the others.
The bankruptcy procedure in Richmond Hill, GA has become more complicated and needs careful planning and consideration. So choosing a seasoned bankruptcy attorney in Richmond Hill, GA is more important now than ever before. Trying to go through this process by yourself is a huge error and also the decision to file prior to consulting with an experienced Richmond Hill, GA bankruptcy attorney.

---------------------Savannah Georgia bankruptcy lawyer | Bankruptcy attorneys in Savannah GA and Richmond Hill - Filing for Chapter 13 Bankruptcy and Chapter 7 Bankruptcy in Savannah GAhttp://www.savannahgabankruptcy.com

Richmond Hill, GA Chapter 13 Bankruptcy attorney

2010-04-04T08:02:00.000-04:00

A Chapter 13 Bankruptcy has numerous added benefits over the Chapter 7 Bankruptcy. Unlike Chapter 7 Bankruptcy, in the Chapter 13 Bankruptcy, an individual can at least protect his home from foreclosure. All proceedings will come to halt once he files for Chapter 13 Bankruptcy. He will get a period of 3-5 years to pay off the debts. The Chapter 13 Bankruptcy allows the individual to reallocate secured debts. It can over a period of time, lower the payments which he must make. Finally a debtor will have no connection or contact with the creditors when he or she has filed Chapter 13 Bankruptcy.
A Richmond Hill, GA Chapter 13 Bankruptcy can assist you file for Chapter 13 Bankruptcy. Any person, either self employed or working in an organization may file a chapter 13 bankruptcy in Richmond Hill, GA and secure protection under it. The only condition is that his unsecured debts should be below $336,900 and secured part of the debts less than $ 1,010,650. No corporation can seek assistance or file chapter 13. An individual cannot file for chapter 13 if his bankruptcy application was dismissed 180 days prior to the filing.

---------------------Savannah Georgia bankruptcy lawyer | Bankruptcy attorneys in Savannah GA and Richmond Hill - Filing for Chapter 13 Bankruptcy and Chapter 7 Bankruptcy in Savannah GAhttp://www.savannahgabankruptcy.com

Richmond Hill, GA Chapter 7 attorney

2010-04-03T08:01:00.000-04:00

Chapter 7 is about selling the filer’s assets rather than repayment. Previously debtors could pick whether they wanted Chapter 7 or 13. But now, if their income is high, they may not have a choice and will have to file for Chapter 13. To file Chapter 7, the filer would have to show that his disposable income falls below a certain low sum of money. Consult with an experienced Richmond Hill, GA Chapter 7 attorney to know if you qualify for Chapter 7. Under Chapter 7, assets are sold and the proceeds are used to pay off the debtor’s creditors. Chapter 13 involves repayment. All income goes into paying off creditors. When available income is greater than that of the median in Georgia, the debtor’s permitted expenses will be determined by the IRS. The amount should come out of the filer's income during the six-month period preceding the filing. A chapter 11 debtor has a one-time absolute right to convert the chapter 11 case to a case under chapter 7 unless (1) the debtor is not a debtor in possession, (2) the case initially was filed as an involuntary case under chapter 11, or (3) the case was converted to a case under chapter 11 other than at the debtor's request. A debtor in a chapter 11 proceeding does not have an absolute right to have the case dismissed upon request. There are major exceptions to the conversion process in a chapter 11 proceeding. Except when the debtor requests the conversion, section 1112(c) of the United States Bankruptcy Code does not allow the court to convert a proceeding involving a farmer or charitable institution to a liquidation case under chapter 7.

---------------------Savannah Georgia bankruptcy lawyer | Bankruptcy attorneys in Savannah GA and Richmond Hill - Filing for Chapter 13 Bankruptcy and Chapter 7 Bankruptcy in Savannah GAhttp://www.savannahgabankruptcy.com

Richmond Hill, GA farm bankruptcy attorney

2010-04-02T08:01:00.000-04:00

Chapter 11 allows the debtor to manage its business by means of a plan of reorganization, which must meet certain statutory criteria. By creating chapter 11, the Congress provided the debtor a chance to restructure its finances so that it can continue to operate, provide employment, pay its creditors, and produce a return for its stockholders. Since chapter 11 envisions a running business, the most likely persons to have knowledge and details of the business are the present managers who generally continue operations during the chapter 11 proceeding. The main rationale behind business reorganizations is that the value of an ongoing is far more than it would be if its assets were liquidated. Chapter 12 is a U.S. bankruptcy proceeding intended for family farms or fisheries that provides the farm or fishery owner the opportunity to reorganize his or her finances and debts while still keeping the farm or fishery. The farm or fishery owner must co-ordinate with a bankruptcy trustee and creditors to formulate a payment program that will meet his or her owner obligations. The Chapter 12 proceeding in Richmond Hill, GA can be availed by individually run family farms and fisheries and also those owned by a corporation or partnership. Chapter 12 was enacted in 1986 epecially for farms and fisheries to make the bankruptcy process easier for these types of businesses. Prior to Chapter 12, farmers had to either file for protection under Chapter 11, which can be very costly and is essentially for large companies, or Chapter 13, which is essentially for those with comparatively small outstanding debts (often not the case for farms and fisheries). Farm debtors considering bankruptcy should contact a Richmond Hill, GA farm bankruptcy attorney to know about the options.

---------------------Savannah Georgia bankruptcy lawyer | Bankruptcy attorneys in Savannah GA and Richmond Hill - Filing for Chapter 13 Bankruptcy and Chapter 7 Bankruptcy in Savannah GAhttp://www.savannahgabankruptcy.com

Bankruptcy in Liberty County, Georgia

2010-04-01T08:00:00.000-04:00

Bankruptcy law is a federal statutory law contained in Title 11 of the United States Code. The United States Constitution, in Section 8, grants Congress the power to create uniform rules on the subject of bankruptcies all over the US. States do not regulate bankruptcy but they may pass laws that influence other areas of the debtor-creditor relationship. So it is important to know the federal rules that are applicable to bankruptcy as well as any state laws that may apply.
Since April 2005 some big changes to bankruptcy rules were made by the Bankruptcy Abuse Prevention and Consumer Protection Act, affecting all bankruptcies filed after October 2005. The assets in Individual Retirement Accounts are exempt assets and cannot be sold to pay creditors. To restrict the availability of a Chapter 7 discharge of debt, the rules have been significantly revised. A Means test now determines if you are eligible for filing Chapter 7. Debtors must participate in approved credit counseling before they can file bankruptcy. Filing fees were increased and subsequently attorney fees have also gone up.
There is a lot of misinformation out there for debtors contemplating bankruptcy. If you are thinking about filing bankruptcy, there is no reason to worry by this test. If you are well below the state median income, this change will not affect you. Even debtors who are above the state median income generally are eligible for chapter 7 because the expenses are high enough to qualify. But, if your income is near your state's median, you must contact a seasoned bankruptcy in Liberty County, Georgia.

---------------------Savannah Georgia bankruptcy lawyer | Bankruptcy attorneys in Savannah GA and Richmond Hill - Filing for Chapter 13 Bankruptcy and Chapter 7 Bankruptcy in Savannah GAhttp://www.savannahgabankruptcy.com

Liberty County, Georgia personal bankruptcy attorney

2010-03-31T07:59:00.000-04:00

In 2005 the US Bankruptcy Code was altered mandating that debtors qualify to file for Chapter 7 bankruptcy. The debtor has to first take the Means Test. If the Means Test shows that the debtor qualifies to file for a Chapter 7 bankruptcy then it is important to know that there are other conditions. All individuals seeking Chapter 7 bankruptcy protection should undergo a debt counseling course within 6 months of filing for Chapter 7 bankruptcy. Also the debtor will also be required to undergo a financial education course prior to discharge of the debts. All individuals considering bankruptcy should consult with an experienced Liberty County, Georgia personal bankruptcy as the changes to US Bankruptcy Code have now made it difficult to qualify for Chapter 7. Before you can file for bankruptcy under either Chapter 7 or Chapter 13, you must undergo credit counseling with a United States Trustee approved agency. You can obtain the list of approved agencies from the United States Trustee’s website located at www.usdoj.gov/ust. This counseling is meant to provide you an idea of whether there exists a real requirement to file for bankruptcy or whether an informal repayment plan would will be sufficient.

---------------------Savannah Georgia bankruptcy lawyer | Bankruptcy attorneys in Savannah GA and Richmond Hill - Filing for Chapter 13 Bankruptcy and Chapter 7 Bankruptcy in Savannah GAhttp://www.savannahgabankruptcy.com

Liberty County, Georgia chapter 7 business bankruptcy attorney

2010-03-30T07:59:00.000-04:00

A Chapter 7 proceeding begins with the debtor filing a petition with the bankruptcy court. In addition to the petition, the debtor must also file with the court several schedules of assets and liabilities, details of current income and expenditures, a statement of financial affairs, and details of executory contracts and unexpired leases. The schedules and statements include the following information:
Details of of all creditors and the amount and nature of their claims;
The source, amount, and frequency of the debtor's income;
A list of all of the debtor's property; and
A detailed list of the debtor's monthly living expenses (food, clothing, shelter, utilities, taxes, transportation, medicine, etc.).
Businesses intending to file Chapter 7 should seek the help of a seasoned Liberty County, Georgia chapter 7 business bankruptcy attorney because the chapter 7 business bankruptcy process is complex.

In Chapter 7, the company stops all activities and exits the business completely. A trustee is appointed to liquidate the company's assets and the money is used to clear the debt, which can include debts to creditors and investors.
The investors who take the least risk are paid first. Secured creditors take less risk as the credit that they extend is usually backed by collateral, such as a mortgage or other assets of the company. They know they will be paid first if the company declares bankruptcy.
Bondholders have larger potential of getting back their investments unlike stockholders, as bonds are the debt of the company and the company has accepted to pay bondholders interest and to pay back their principal. Stockholders own the company, and take more risk. They could make larger amounts of money when the business does well, but they could lose money if the company does poorly. The owners are the last to be repaid if the company fails. Bankruptcy regulations determine the order of payment.

---------------------Savannah Georgia bankruptcy lawyer | Bankruptcy attorneys in Savannah GA and Richmond Hill - Filing for Chapter 13 Bankruptcy and Chapter 7 Bankruptcy in Savannah GAhttp://www.savannahgabankruptcy.com

Liberty County, Georgia bankruptcy trustee

2010-03-29T07:58:00.000-04:00

The Liberty County, Georgia bankruptcy trustee in may use, sell, or lease property in the debtor's estate in the usual course of business. In addition, the bankruptcy court will permit a trustee to operate the debtor's business for a certain time if continued operation is in the best interests of the all. For instance, if the farm debtor is in the hog business and the estate consists of hogs of different sizes, the trustee can be ordered to feed the hogs until they attain market weight so as to maximize the amount recovered by the estate. But, if the livestock owned by a farm debtor is subject to a valid, perfected security interest, the trustee will not, in almost all cases, undertake the further care and feeding of the livestock. Rather, the trustee will likely abandon the property so as to restrict the estate's continued responsibility. Even though the appointment of a case trustee is rarely occurs in a chapter 11 proceeding, a party in interest or the United States trustee can apply for the appointment of a case trustee or examiner at any time before confirmation in a chapter 11 case. The judge, on application by a party in interest or the United States trustee and subsequent to notice and hearing, can order the appointment of a case trustee for cause, including fraud, dishonesty, incompetence, or gross mismanagement, or if such an appointment is in the interest of creditors, any equity security holders, and other interests of the estate.

---------------------Savannah Georgia bankruptcy lawyer | Bankruptcy attorneys in Savannah GA and Richmond Hill - Filing for Chapter 13 Bankruptcy and Chapter 7 Bankruptcy in Savannah GAhttp://www.savannahgabankruptcy.com

Liberty County, Georgia Chapter 13 attorney

2010-03-28T07:58:00.000-04:00

Any person, either self employed or employed with any organization may file a chapter 13 bankruptcy in Liberty County, Georgia and get protection under it. The only condition is that his unsecured debts must be less than $336,900 and secured part of the debts lower than $ 1,010,650. No corporation can seek help or file chapter 13. An individual cannot file for chapter 13 when his bankruptcy application was dismissed 180 days prior to the filing. An experienced Liberty County, Georgia Chapter 13 Bankruptcy can help you file for Chapter 13 Bankruptcy. Bankruptcy is a really terrible situation to be in, for any person or an organization. But even in such tough times, there are ways to handle such situations. Chapter 13 Bankruptcy assists individuals only, to come out of financial crisis under the guidance of a federal bankruptcy court. A debtor having a regular income can restructure his financial position with the help of Chapter 13 Bankruptcy. The debtor must propose a plan with the assistance of which he or she can repay all his outstanding debts in three to five. 5 years is the maximum time period of the repayment plan for a Chapter 13 Bankruptcy in Liberty County, Georgia.

---------------------Savannah Georgia bankruptcy lawyer | Bankruptcy attorneys in Savannah GA and Richmond Hill - Filing for Chapter 13 Bankruptcy and Chapter 7 Bankruptcy in Savannah GAhttp://www.savannahgabankruptcy.com

Liberty County, Georgia individual bankruptcy attorney

2010-03-27T07:57:00.000-04:00

A person can file for bankruptcy under Chapter 7 in Liberty County, Georgia and can have certain debts discharged if they fullfil the necessary requirements. These necessary requirements were established under the BACCP Act and now has both a means test and also the necessity to undergo credit counseling. The process is complex and you must use the services of a Liberty County, Georgia ndividual bankruptcy attorney
Before being permitted to file a Chapter 7 bankruptcy an individual must prove that their disposable income is below a certain threshold which may differ slightly from state to state depending on the average income of the state.
The individual will also need to have undergone credit counseling from an accredited organization at some stage in the 180 days before the bankruptcy petition.
Once a Chapter 7 petition has been filed in Liberty County, Georgia, an impartial trustee will be appointed to sell the non-exempt assets of the filer. The trustee generally will be an attorney or someone who knows the bankruptcy regulations and the legal systerm. The trustee must call a meeting of creditors, usually within 40 days after the date of filing. The debtor must appear at the meeting and must submit to an examination under oath. The examination usually is restricted to questions about the extent and whereabouts of the debtor's assets. But, a trustee may ask questions that ensure the debtor understands the likely consequences of bankruptcy, including the effect on his credit history, ability to file a petition under a different chapter, the effect of receiving a discharge, and the effect of reaffirming a debt. The filing of a Chapter 7 proceeding in Liberty County, Georgia under the US Bankruptcy Code creates a bankruptcy estate. The trustee is charged with selling all assets of the estate.

---------------------Savannah Georgia bankruptcy lawyer | Bankruptcy attorneys in Savannah GA and Richmond Hill - Filing for Chapter 13 Bankruptcy and Chapter 7 Bankruptcy in Savannah GAhttp://www.savannahgabankruptcy.com

Liberty County, Georgia bankruptcy attorney

2010-03-26T07:56:00.000-04:00

Typically, people are worried about who will find out about their bankruptcy. Your employer and your landlord will not be notified. You can technically file for bankruptcy every eight years under Chapter 7. In Chapter 13, you can file as many times as is necessary so long as you have paid at least 70% of your unsecured debt in your last Chapter 13 filing.

All taxes will not be wiped out by filing bankruptcy. However, in Chapter 13, you will not have to pay interest or penalties. In Chapter 7 certain taxes may be discharged. A good Liberty County, Georgia bankruptcy attorney can help you distinguish between those that may qualify from the others.
The bankruptcy process in Liberty County, Georgia has become more complicated and needs proper planning and consideration. So selecting a good bankruptcy attorney in Liberty County, Georgia is more important now than ever before. Trying to go through this process by yourself is a huge error and also the decision to file before consulting with an experienced Liberty County, Georgia bankruptcy attorney.

---------------------Savannah Georgia bankruptcy lawyer | Bankruptcy attorneys in Savannah GA and Richmond Hill - Filing for Chapter 13 Bankruptcy and Chapter 7 Bankruptcy in Savannah GAhttp://www.savannahgabankruptcy.com

Liberty County, Georgia Chapter 13 Bankruptcy attorney

2010-03-25T07:56:00.000-04:00

The Chapter 13 Bankruptcy has many additional advantages over the Chapter 7 Bankruptcy. Unlike Chapter 7 Bankruptcy, in the Chapter 13 Bankruptcy, an individual can at least save his house from foreclosure. All proceedings will come to halt once he files for Chapter 13 Bankruptcy. He will have a period of 3-5 years to pay back his debts. The Chapter 13 Bankruptcy allows the individual to reallocate secured debts. It can over a time period, reduce the payments which he has to make. Finally a debtor will have no connection or contact with his or her creditors if he or she has filed Chapter 13 Bankruptcy.
A Liberty County, Georgia Chapter 13 Bankruptcy can assist you file for Chapter 13 Bankruptcy. Any person, either self employed or working in an organization can file a chapter 13 bankruptcy in Liberty County, Georgia and get protection under it. The only condition is that his unsecured debts should be lower than $336,900 and secured part of the debts lower than $ 1,010,650. No organization can seek help or file chapter 13. A person cannot file for chapter 13 when his bankruptcy petition was dismissed 180 days prior to the filing.

---------------------Savannah Georgia bankruptcy lawyer | Bankruptcy attorneys in Savannah GA and Richmond Hill - Filing for Chapter 13 Bankruptcy and Chapter 7 Bankruptcy in Savannah GAhttp://www.savannahgabankruptcy.com

Liberty County, Georgia Chapter 7 attorney

2010-03-24T07:55:00.000-04:00

Chapter 7 deals with liquidating the debtor’s assets rather than repayment. Previously filers could decide whether they wanted Chapter 7 or 13. However now, when their income is high, they may not have a choice and must file under Chapter 13. In order to file Chapter 7, the debtor must show that his disposable income is less than a certain low sum of money. Consult with an experienced Liberty County, Georgia Chapter 7 attorney to know if you qualify for Chapter 7. For Chapter 7, assets are liquidated and the proceeds are used to repay the filer's creditors. Chapter 13 involves repayment. All income is used for paying off creditors. When available income is greater than that of the median in the State of Georgia, the debtor’s permitted expenses will be determined by the IRS. This amount must come out of the filer's income during the six-month period before the filing. A chapter 11 debtor has a one-time absolute right to convert the chapter 11 case to a case under chapter 7 unless (1) the debtor is not a debtor in possession, (2) the case originally was started as an involuntary proceeding under chapter 11, or (3) the proceeding was converted to a proceeding under chapter 11 other than at the debtor's request. A debtor in a chapter 11 proceeding does not have an absolute right to have the proceeding dismissed upon request. There are major exceptions to the conversion process in a chapter 11 case. Unless the debtor requests the conversion, section 1112(c) of the US Bankruptcy Code does not permit the court to convert a case involving a farmer or charitable institution to a liquidation proceeding under chapter 7.

---------------------Savannah Georgia bankruptcy lawyer | Bankruptcy attorneys in Savannah GA and Richmond Hill - Filing for Chapter 13 Bankruptcy and Chapter 7 Bankruptcy in Savannah GAhttp://www.savannahgabankruptcy.com

Liberty County, Georgia farm bankruptcy attorney

2010-03-23T07:54:00.000-04:00

Chapter 11 allows the debtor to manage its business by means of a plan of reorganization, which must fulfill certain legal criteria. By creating chapter 11, the Congress provided the debtor an opportunity to restructure its finances so that it may continue to operate, provide employment, pay its creditors, and provide a return for its stockholders. As chapter 11 envisions an ongoing business, the most likely persons to have knowledge and details of the business are the present managers who often continue operations during the chapter 11 case. The main rationale of business reorganizations is that the value of an ongoing is far more than it would be if its assets were sold. Chapter 12 is a U.S. bankruptcy chapter specifically for family farms or fisheries which provides the farm or fishery owner the opportunity to reorganize his or her finances and debts while still retaining the farm or fishery. The farm or fishery owner will work with the bankruptcy trustee and creditors to formulate a payment program that will meet his or her owner obligations. This Chapter 12 proceeding in Liberty County, Georgia can be availed by individually run family farms and fisheries and also those owned by a corporation or partnership. Chapter 12 was created in 1986 exclusively for farms and fisheries to make the bankruptcy process easier for these types of businesses. Before Chapter 12, farmers had to either file for protection under Chapter 11, which can be very expensive and is basically for big corporations, or Chapter 13, which is mainly for those with comparatively small outstanding debts (often not the case for farms and fisheries). Farm debtors looking to file for bankruptcy must contact a Liberty County, Georgia farm bankruptcy attorney to know about the options.

---------------------Savannah Georgia bankruptcy lawyer | Bankruptcy attorneys in Savannah GA and Richmond Hill - Filing for Chapter 13 Bankruptcy and Chapter 7 Bankruptcy in Savannah GAhttp://www.savannahgabankruptcy.com

Bankruptcy in Chatham County, Georgia

2010-03-22T07:54:00.000-04:00

Title 11 of the United States Code contains the federal bankruptcy law. The The Constitution of the United States, in Section 8, gives Congress the power to create uniform laws on the subject of bankruptcies throughout the United States. States don’t regulate bankruptcy but they may pass laws that affect other aspects of the debtor-creditor relationship. Therefore it is important to know the federal rules that are applicable to bankruptcy as well as any state laws that may apply.
Since April 2005 some big changes to bankruptcy rules were made with the Bankruptcy Abuse Prevention and Consumer Protection Act, affecting all bankruptcies filed after October 2005. The assets in Individual Retirement Accounts are protected and are exempt from liquidation to pay creditors. To limit the availability of a Chapter 7 discharge of debt, the guidelines have been significantly revised. A Means test now governs if you are eligible for filing Chapter 7. Debtors must take part in approved credit counseling prior to filing for bankruptcy. Filing fees have been increased and as a result attorney fees have also increased.
There is a great amount of misinformation out there for debtors contemplating bankruptcy. If you are considering about filing bankruptcy, there is no reason to be alarmed by this test. If you are well below the state median income, this change will not affect you. Even debtors who are above the state median income generally are eligible for chapter 7 as the expenses are way too high to be eligible. However, if your income is near your state's median, you must contact a seasoned bankruptcy in Chatham County, Georgia.

---------------------Savannah Georgia bankruptcy lawyer | Bankruptcy attorneys in Savannah GA and Richmond Hill - Filing for Chapter 13 Bankruptcy and Chapter 7 Bankruptcy in Savannah GAhttp://www.savannahgabankruptcy.com

Chatham County, Georgia personal bankruptcy attorney

2010-03-21T07:53:00.000-04:00

In 2005 the Federal Bankruptcy Code was altered requiring that individuals qualify to file for Chapter 7 bankruptcy. The debtor must first take the Means Test. If the Means Test establishes that the debtor qualifies to file for a Chapter 7 bankruptcy then it is important to understand that there are other conditions. All individuals filing for Chapter 7 bankruptcy protection should attend a debt counseling course within six months of filing for Chapter 7 bankruptcy. In addition the debtor can also be required to complete a financial education course before discharge of the debts. All persons considering bankruptcy should consult with an experienced Chatham County, Georgia personal bankruptcy because the changes to Federal Bankruptcy Code have now made it tough to qualify for Chapter 7. Prior to filing for bankruptcy under either Chapter 7 or Chapter 13, you must undergo credit counseling with a United States Trustee approved agency. You can obtain the list of approved agencies from the United States Trustee’s website located at www.usdoj.gov/ust. This counseling is meant to provide you an idea of whether there exists a genuine need to file for bankruptcy or whether an informal repayment plan would will be sufficient.

---------------------Savannah Georgia bankruptcy lawyer | Bankruptcy attorneys in Savannah GA and Richmond Hill - Filing for Chapter 13 Bankruptcy and Chapter 7 Bankruptcy in Savannah GAhttp://www.savannahgabankruptcy.com

Chatham County, Georgia chapter 7 business bankruptcy attorney

2010-03-20T07:51:00.000-04:00

A Chapter 7 case begins with the debtor filing a petition with the bankruptcy court. In addition to the petition, the debtor must also file with the court several schedules of assets and liabilities, details of current income and expenditures, a statement of financial affairs, and details of executory contracts and unexpired leases. The schedules and statements include the following information:
A list of all creditors and the amount and nature of their claims;
The source, amount, and frequency of the debtor's income;
A list of all of the debtor's property; and
Details of of the debtor's monthly living expenses (food, clothing, shelter, utilities, taxes, transportation, medicine, etc.).
Businesses intending to file Chapter 7 must seek the assistance of a seasoned Chatham County, Georgia chapter 7 business bankruptcy attorney because the chapter 7 business bankruptcy process is complicated.

In Chapter 7, the company ceases its operations and goes completely out of business. A trustee is appointed to liquidate the business’s assets and the money is used to pay off the debt, which can include debts to creditors and investors.
The first to be paid are the investors who take the least risk. Secured creditors take less risk because the credit that they give is usually backed by collateral, such as a mortgage or other assets of the company. They know they will be paid first if the business declares bankruptcy.
Bondholders have greater potential for getting back their investments than stockholders, because bonds represent the debt of the business and the company has accepted to pay bondholders interest and to return their principal. Stockholders own the business, and take more risk. They could make more money when the company does well, but they may lose money if the company does poorly. The owners are the last to be repaid if the company closes. Bankruptcy regulations decide the order of payment.

---------------------Savannah Georgia bankruptcy lawyer | Bankruptcy attorneys in Savannah GA and Richmond Hill - Filing for Chapter 13 Bankruptcy and Chapter 7 Bankruptcy in Savannah GA http://www.savannahgabankruptcy.com

Chatham County, Georgia bankruptcy trustee

2010-03-19T07:51:00.000-04:00

The Chatham County, Georgia bankruptcy trustee in may use, sell, or lease property in the debtor's estate in the ordinary course of business. In addition, a bankruptcy court can authorize a trustee to operate the debtor's business for a certain time when continued operation is in the best interests of the all. For example, when the farm debtor is in the hog business and the estate consists of hogs of varying sizes, the trustee can be allowed to feed the hogs until they attain market weight so as to maximize the amount recovered by the estate. However, if the livestock belonging to a farm debtor is subject to a valid, perfected security interest, the trustee will not, in most cases, undertake the continued care and feeding of the livestock. Instead, he will likely abandon the property so as to restrict the estate's continued responsibility. Though the appointment of a case trustee is very rare in a chapter 11 case, a party in interest or the United States trustee can seek the appointment of a case trustee or examiner at any time before confirmation in a chapter 11 case. The judge, on application by a party in interest or the United States trustee and subsequent to notice and hearing, can order the appointment of a case trustee for cause, including fraud, dishonesty, incompetence, or gross mismanagement, or if such an appointment is in the interest of creditors, any equity security holders, and other interests of the estate.

---------------------Savannah Georgia bankruptcy lawyer | Bankruptcy attorneys in Savannah GA and Richmond Hill - Filing for Chapter 13 Bankruptcy and Chapter 7 Bankruptcy in Savannah GAhttp://www.savannahgabankruptcy.com

Chatham County, Georgia Chapter 13 attorney

2010-03-18T07:50:00.000-04:00

Any person, either self employed or working in any organization can file a chapter 13 bankruptcy in Chatham County, Georgia and seek protection under it. The only criteria is that the unsecured debts must be less than $336,900 and secured part of the debts below $ 1,010,650. No corporation can seek help or file chapter 13. An individual cannot file for chapter 13 if his bankruptcy application was dismissed 180 days prior to the filing. An experienced Chatham County, Georgia Chapter 13 Bankruptcy can assist you file for Chapter 13 Bankruptcy. Bankruptcy is a very terrible state to be in, for any person or an organization. However even in such difficult times, there are ways to tackle such situations. Chapter 13 Bankruptcy enables individuals only, to come out of financial crisis under the guidance of a federal bankruptcy court. A debtor having a regular income can restructure his financial position with the help of Chapter 13 Bankruptcy. The debtor must submit a plan with the help of which he or she can repay all his outstanding debts in three to five. 5 years is the maximum time period of the repayment plan for a Chapter 13 Bankruptcy in Chatham County, Georgia.

---------------------Savannah Georgia bankruptcy lawyer | Bankruptcy attorneys in Savannah GA and Richmond Hill - Filing for Chapter 13 Bankruptcy and Chapter 7 Bankruptcy in Savannah GAhttp://www.savannahgabankruptcy.com

Chatham County, Georgia individual bankruptcy attorney

2010-03-17T07:50:00.000-04:00

An individual can file for bankruptcy under Chapter 7 in Chatham County, Georgia and can have certain debts discharged if they fullfil the necessary criteria. These necessary criteria were formulated under the BACCP Act and now has both a means test and also the necessity to receive credit counseling. The process is complex and you should hire the services of a Chatham County, Georgia ndividual bankruptcy attorney
Prior to being permitted to file a Chapter 7 bankruptcy a person should demonstrate that their disposable income is below a certain limit which may vary slightly from state to state depending on the average income of that state.
The person is also required to have undergone credit counseling from an accredited organization at some stage in the 180 days before their bankruptcy petition.
If the Chapter 7 petition has been filed in Chatham County, Georgia, an impartial trustee will be appointed to sell the non-exempt assets of the filer. This trustee usually will be a lawyer or someone who is aware of the bankruptcy rules and the legal systerm. The trustee will call a meeting of creditors, generally within 40 days from the date of filing. The debtor should attend the meeting and should submit to an examination under oath. The examination generally is restricted to questions concerning the extent and whereabouts of the filer’s assets. But, the trustee may ask questions to ensure the filer knows the potential effects of bankruptcy, including the effect on his credit history, ability to file a petition under a different chapter, the effect of receiving a discharge, and the effect of reaffirming a debt. The initiation of a Chapter 7 petition in Chatham County, Georgia under the United States Bankruptcy Code creates a bankruptcy estate. A trustee is charged with selling all property of the estate.

---------------------Savannah Georgia bankruptcy lawyer | Bankruptcy attorneys in Savannah GA and Richmond Hill - Filing for Chapter 13 Bankruptcy and Chapter 7 Bankruptcy in Savannah GAhttp://www.savannahgabankruptcy.com

Chatham County, Georgia bankruptcy attorney

2010-03-16T07:49:00.000-04:00

Generally, people are worried about who will find out about their bankruptcy. Your employer and your landlord will not be notified. You can technically file for bankruptcy every eight years under Chapter 7. Under Chapter 13, you may file as many times as is required as long as you have paid at least 70% of your unsecured debt under your previous Chapter 13 filing.

All taxes are not discharged by filing bankruptcy. But, in Chapter 13, you may not have to pay interest or penalties. In Chapter 7 few taxes can be discharged. A seasoned Chatham County, Georgia bankruptcy attorney can help you distinguish between those that may qualify from the others.
The bankruptcy procedure in Chatham County, Georgia has become more complicated and needs proper planning and consideration. Therefore choosing a good bankruptcy attorney in Chatham County, Georgia is more important now than ever before. Trying to go through the process all alone is a huge error and so is the decision to file prior to consulting with an experienced Chatham County, Georgia bankruptcy attorney.

---------------------Savannah Georgia bankruptcy lawyer | Bankruptcy attorneys in Savannah GA and Richmond Hill - Filing for Chapter 13 Bankruptcy and Chapter 7 Bankruptcy in Savannah GAhttp://www.savannahgabankruptcy.com

Chatham County, Georgia Chapter 13 Bankruptcy attorney

2010-03-15T07:48:00.000-04:00

The Chapter 13 Bankruptcy has numerous added advantages over a Chapter 7 Bankruptcy. Unlike Chapter 7 Bankruptcy, in a Chapter 13 Bankruptcy, the individual can at least save his home from foreclosure. All proceedings will come to halt if he files for Chapter 13 Bankruptcy. He will have a period of 3-5 years to pay back the creditors. The Chapter 13 Bankruptcy permits an individual to reallocate secured debts. It can over a time period, lower the payments which he must make. Finally a debtor will not have any connection or contact with his or her creditors if he or she has filed Chapter 13 Bankruptcy.
A Chatham County, Georgia Chapter 13 Bankruptcy can help you file for Chapter 13 Bankruptcy. Any individual, either self employed or working in an organization may file a chapter 13 bankruptcy in Chatham County, Georgia and get protection under it. The only condition is that his unsecured debts must be lower than $336,900 and secured part of the debts below $ 1,010,650. No organization can seek help or file chapter 13. A person cannot file for chapter 13 if his bankruptcy petition was dismissed 180 days before the filing.

---------------------Savannah Georgia bankruptcy lawyer | Bankruptcy attorneys in Savannah GA and Richmond Hill - Filing for Chapter 13 Bankruptcy and Chapter 7 Bankruptcy in Savannah GAhttp://www.savannahgabankruptcy.com

Chatham County, Georgia Chapter 7 attorney

2010-03-14T07:48:00.000-04:00

Chapter 7 deals with selling the filer’s assets rather than repayment. Earlier filers could determine whether they wanted Chapter 7 or 13. But now, if their income is high, they do not have a choice and will have to file for Chapter 13. To file Chapter 7, a debtor would have to demonstrate that his disposable income falls below a certain low sum of money. Consult with an experienced Chatham County, Georgia Chapter 7 attorney to know if you qualify for Chapter 7. In Chapter 7, assets are liquidated and the proceeds are used to repay the debtor’s debts. Chapter 13 involves repayment. All income is used for repaying creditors. When available income is greater than that of the median in Georgia, the filer's permitted expenses will be determined by the IRS. The amount should come out of the filer's income during the six-month period prior to the filing. The chapter 11 debtor has a one-time absolute right to convert the chapter 11 case to a proceeding under chapter 7 except if (1) the debtor is not a debtor in possession, (2) the case initially was filed as an involuntary proceeding under chapter 11, or (3) the proceeding was converted to a proceeding under chapter 11 other than at the debtor's request. A debtor in a chapter 11 case does not have an absolute right to have the proceeding dismissed upon request. There are important exceptions to the conversion process in a chapter 11 case. Unless the debtor requests the conversion, section 1112(c) of the Federal Bankruptcy Code does not allow the court to convert a case involving a farmer or charitable institution to a liquidation proceeding under chapter 7.

---------------------Savannah Georgia bankruptcy lawyer | Bankruptcy attorneys in Savannah GA and Richmond Hill - Filing for Chapter 13 Bankruptcy and Chapter 7 Bankruptcy in Savannah GAhttp://www.savannahgabankruptcy.com

Chatham County, Georgia farm bankruptcy attorney

2010-03-13T07:39:00.000-05:00

Chapter 11 allows the debtor to run its business through a plan of reorganization, that should fulfill certain statutory criteria. By legislating chapter 11, the Congress provided the debtor a chance to restructure its finances so that it may continue to operate, provide its employees with jobs, pay its creditors, and provide a return for its stockholders. Since chapter 11 deals with an ongoing business, the most likely persons who have knowledge and details of the operation are the existing managers who often continue operations during the chapter 11 proceeding. The main rationale of business reorganizations is that the value of an operating is much more than it would be if its assets were sold. Chapter 12 is a U.S. bankruptcy proceeding specifically for family farms or fisheries which gives the farm or fishery owner the opportunity to reorganize his or her finances and debts while still keeping the farm or fishery. The farm or fishery owner should work with a bankruptcy trustee and creditors to formulate a payment program that will satisfy his or her owner obligations. The Chapter 12 proceeding in Chatham County, Georgia can be availed by individually run family farms and fisheries as well as those owned by a corporation or partnership. Chapter 12 was created in 1986 exclusively for farms and fisheries to make the bankruptcy process easier for such business types. Prior to Chapter 12, farmers would have to either file for protection under Chapter 11, which was very costly and is mainly for large corporations, or Chapter 13, which is basically for those with relatively small outstanding debts (typically not the case for farms and fisheries). Farm debtors considering bankruptcy should consult a Chatham County, Georgia farm bankruptcy attorney to know about the options.

---------------------Savannah Georgia bankruptcy lawyer | Bankruptcy attorneys in Savannah GA and Richmond Hill - Filing for Chapter 13 Bankruptcy and Chapter 7 Bankruptcy in Savannah GAhttp://www.savannahgabankruptcy.com

Why choose a Savannah GA Bankruptcy attorney

2010-03-12T02:07:00.000-05:00

Why choose a Savannah GA Bankruptcy attorney

Before choosing to file bankruptcy yourself, ask a few questions.
1. What is a means test?
2. How long does it take to discharge a bankruptcy?
3. Do you know the Summary of Schedules?
4. What is a Schedule D, E or F?

If you [are unable answer these questions without seeking help from the Internet, you are probably not ready to file bankruptcy yourself. These Schedules are just a small portion of the filing process. Bankruptcy lawyers in Savannah GA are professionals who understand how to work with the court to make the process of discharging debt as quick and painless as possible. There are few people like a bankruptcy attorney who are knowledgeable enough about law to handle an immediate or emergency request for filing from the court and a single mirror can cause debts not being discharged or the bankruptcy being drawn out over months and months.

Eliminating that fear when the phone rings can be a quick and easy process. Debt which is riding over your head can be discharged and the cost of an attorney to handle the proceeding is nothing compared to the effect on your personal life if bankruptcy proceedings go wrong. Although you can file bankruptcy yourself, don’t risk the potential negative consequences to save a few dollars.

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Savannah Georgia bankruptcy lawyer | Bankruptcy attorneys in Savannah GA and Richmond Hill - Filing for Chapter 13 Bankruptcy and Chapter 7 Bankruptcy in Savannah GA

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Savannah GA Chapter 11

2010-03-11T02:07:00.000-05:00

Savannah GA Chapter 11

In Savannah GA Chapter 11 is a bankruptcy type availed by to individuals, sole proprietors and corporations who want to reorganize and repay debts. Chapter 11 may also be used by large farming organizations that do not qualify under Chapter 12; a bankruptcy chapter exclusively for family farmers and fishermen. Chapter 11 needs debtors to carry a minimum debt load of $336,900 of unsecured debts and a maximum of $1,010,650 in secured debts. If you filing for Chapter 11 bankruptcy, you are required to provide a proposed repayment plan with creditors during the 341 creditor meeting. The meeting often takes place within 30 to 90 days after filing of the bankruptcy petition. Chapter 11 debt reorganization plans are generally broken down by creditor classification. Debts that are secured by real estate are usually repaid over an extended time period. Unsecured loans are reorganized depending on the expected life cycle of the collateral. For instance, debts for office equipment might be repaid over five years, while debts for machinery can be repaid over ten years. Bankruptcy repayment plans are confirmed through the court using a three-step process. First, you must to submit a repayment plan. Secondly, creditors have to accept that plan. Third, the plan is submitted to a judge at a confirmation hearing. The judge reviews the repayment proposal to ensure you possess the financial capacity to work through on the plan. Upon confirmation of Chapter 11, all debts with the exception of non-dischargeable debts are discharged.

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Savannah Georgia bankruptcy lawyer | Bankruptcy attorneys in Savannah GA and Richmond Hill - Filing for Chapter 13 Bankruptcy and Chapter 7 Bankruptcy in Savannah GA

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Savannah GA Chapter 13 Discharge

2010-03-10T02:06:00.000-05:00

Savannah GA Chapter 13 Discharge

Chapter 13 Bankruptcy filings in Savannah GA stops foreclosure actions from taking place. It can permit you to breathe easier preventing you from being physical removed from the home. Chapter 13 Bankruptcy filings in Savannah GA do not need the liquidation of assets. Chapter 7 Bankruptcy needs liquidation of the assets. Hence, perhaps Chapter 13 Bankruptcy is more suitable to meet your needs than a Chapter 7 filing. Another benefit of filing Chapter 13 Bankruptcy is that the collection efforts must cease during the bankruptcy process. Collectors are not allowed to call, harass and/or disrupt your business and personal life during this process. It is a relief not having to handle creditors, banks, and businesses who are contacting you endlessly for the sake of collecting. It is a huge relief for people in debt is to eliminate this one factor. It makes a huge difference permitting people to think better. Bankruptcy will enable the debtor to begin new life by wiping out most of the debts. When a debt is discharged in bankruptcy, the creditor cannot enforce the debt against the debtor nor begin any collection activity. You don’t have to pay that debt. But some debts must be paid and will not be discharged by bankruptcy. These include: taxes; spousal and child support; debts arising out of willful misconduct and or malicious misconduct by the debtor; liability for injury or death from driving while intoxicated; non-dischargeable debts from a prior bankruptcy; student loans; criminal fines and penalties and forfeitures. It does not free the debtor from any debt incurred for money, property, services, or an extension, renewal, or refinancing of credit, to the extent obtained by false pretenses, a false representation, or actual fraud, other than a statement respecting the debtor’s or an insider’s financial condition.

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Savannah Georgia bankruptcy lawyer | Bankruptcy attorneys in Savannah GA and Richmond Hill - Filing for Chapter 13 Bankruptcy and Chapter 7 Bankruptcy in Savannah GA

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Savannah GA Chapter 7 Bankruptcy for individuals and business Individuals

2010-03-09T02:04:00.000-05:00

Savannah GA Chapter 7 Bankruptcy for individuals and business Individuals

An individual can file for bankruptcy under Chapter 7 in Savannah GA and can have certain debts discharged if they meet the necessary criteria. These necessary criteria were formulated under the BACCP Act and now has both a means test and also the necessity to receive credit counseling.

Prior to being permitted to file a Chapter 7 bankruptcy an individual will need to show that their disposable income falls below a certain threshold which may differ slightly from state to state based on the average income of that state.

The individual is also required to have received credit counseling from an accredited organization at some stage in the 180 days before the bankruptcy petition.
In Chapter 7 bankruptcy certain assets can be kept by the person while others will be sold off to pay back some of the creditors.

There are also few debts that cannot be discharged under Chapter 7 bankruptcy. These are debts like child support, property taxes, income taxes incurred in the past three years, student loans and fines.

Business
A business can file for bankruptcy under Chapter 7 in Savannah GA when it is heavily in debt and cannot pay off this debt with the present income of the business.

In a Chapter 7 proceeding typically there will be a cessation of operations. The trustee will take stock of the assets of the business and sell these off in an attempt to pay off its debts using the proceeds from the sale of the assets. When the business is very large, individual divisions of the business may be sold to repay the debts. Under a Chapter 7 bankruptcy for a business a debt is not discharged but the business is dissolved.

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Savannah Georgia bankruptcy lawyer | Bankruptcy attorneys in Savannah GA and Richmond Hill - Filing for Chapter 13 Bankruptcy and Chapter 7 Bankruptcy in Savannah GA

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Savannah GA Bankruptcy filing

2010-03-08T02:04:00.000-05:00

Savannah GA Bankruptcy filing

There are several ways of filing bankruptcy in Savannah GA. The filing system depends upon the debtor’s present financial situation. If you do not have any money, then you have to complete the procedure yourself. If you have sufficient money to appoint a petition preparer, then your best option for filing bankruptcy will be to permit him prepare your documents and do the rest by yourself. But when you can appoint a bankruptcy lawyer, then your best option is to let a bankruptcy attorney do all the work.

Prior to filing bankruptcy you have to understand what bankruptcy is. It is an opportunity that may be availed by anyone. When a person is in such a financial crisis that he cannot repay his creditors, then he is the best candidate for filing bankruptcy.

There are two kinds bankruptcy filing that are common. You must justify which type is ideal for you. Chapter 7 bankruptcy will discharge almost all of your debts. Chapter 13 is the other type of bankruptcy. Through this chapter you have to repay the creditors. But you will get a long time for this and the repayment amount will depend on your income.

Once you choose the right chapter, you must start your work for filing bankruptcy in Savannah GA. This can be done online. But you must use the services of a Savannah GA bankruptcy law firm.

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Savannah Georgia bankruptcy lawyer | Bankruptcy attorneys in Savannah GA and Richmond Hill - Filing for Chapter 13 Bankruptcy and Chapter 7 Bankruptcy in Savannah GA

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Savannah GA Bankruptcy lawyer

2010-03-07T02:03:00.000-05:00

Savannah GA Bankruptcy lawyer

The bankruptcy procedure in Savannah GA has become more complicated and requires proper planning and consideration. So selecting a seasoned bankruptcy lawyer in Savannah GA is more important now than ever before. Trying to go through the procedure by yourself is a big mistake and also the decision to file prior to talking to bankruptcy attorneys.

When you decide to go it alone, you may be committing many errors that will end up costing you. For instance, a bankruptcy attorney can assist you understand many things you should avoid, such as certain purchases or loans you may make immediately before filing for bankruptcy. If you repay any loan that was made to you recently by a family member, the bankruptcy court can force you to recover this amount in order to pay your debts.

You may also be surprised to know of other options which are available to you outside of Chapter 7. All these options may not be known to you if you don't consult with of bankruptcy law firms in Savannah GA.

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Savannah Georgia bankruptcy lawyer | Bankruptcy attorneys in Savannah GA and Richmond Hill - Filing for Chapter 13 Bankruptcy and Chapter 7 Bankruptcy in Savannah GA

http://www.savannahgabankruptcy.com

Filing Chapter 13 Bankruptcy in Savannah GA

2010-03-06T02:02:00.000-05:00

Filing Chapter 13 Bankruptcy in Savannah GA

Any individual, either self employed or employed with any organization may file a chapter 13 bankruptcy in Savannah GA and obtain protection under it. The only condition is that the unsecured debts should be lower than $336,900 and secured part of the debts lower than $ 1,010,650. No organization can seek assistance or file chapter 13. A person cannot file for chapter 13 if his bankruptcy application was dismissed 180 days prior to the filing.

Chapter 13 bankruptcy which usually starts with filing of the case in the federal court in the place where the debtor stay. The debtor has to produce certain documents showing his current income and expenditure, his liabilities, unexpired leases, and his financial status. Apart from that he or she also should produce a certificate from an approved credit counselor stating that he or she has attended credit counseling and a plan detailing the debt repayment plan.

There are some predefined fees for filing a case under Chapter 13 of the Federal bankruptcy code. The fees may also be paid in installments. When the bankruptcy application is filed all collections against the debtor is stopped with immediate effect. If a debtor pays the dues on time, he or she enjoys protection under chapter 13 of the Federal Bankruptcy Code. Within 50 days the trustee schedules a meeting with the creditors. At this meeting, the debtor is put to several questions and a plan is arrived at providing how he or she will repay the creditors.

The debtor must stick to the repayment plan, and if the debtor does not make regular payments according the plan, the court will dismiss the proceeding and change it to a liquidation proceeding under Chapter 7. Hence when you file a Chapter 13 petition, you must religiously follow the repayment plan and make the payments.

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Savannah Georgia bankruptcy lawyer | Bankruptcy attorneys in Savannah GA and Richmond Hill - Filing for Chapter 13 Bankruptcy and Chapter 7 Bankruptcy in Savannah GA

http://www.savannahgabankruptcy.com

Savannah GA Chapter 13 Bankruptcy

2010-03-05T02:01:00.000-05:00

Savannah GA Chapter 13 Bankruptcy

Bankruptcy is a very bad situation to be in, for any individual or a party. But even in such difficult times, there are ways to tackle such situations. Chapter 13 Bankruptcy enables individuals only, to work out of financial crisis under the guidance of a federal bankruptcy court. A debtor having a regular income can restructure his financial position with the help of Chapter 13 Bankruptcy. The debtor must submit a plan with the help of which he or she can repay all his outstanding debts in 3 to 5 years. Five years is the maximum time period of the repayment plan for a Chapter 13 Bankruptcy in Savannah GA.

The Chapter 13 Bankruptcy has many additional advantages over a Chapter 7 Bankruptcy. Unlike Chapter 7 Bankruptcy, in the Chapter 13 Bankruptcy, the individual can at least protect his home from foreclosure. All proceedings will come to halt after he files for Chapter 13 Bankruptcy. He will have a period of 3-5 years to pay back his creditors. The Chapter 13 Bankruptcy permits the individual to reallocate secured debts. It can over a period of time, lower the payments that he should make. Finally the debtor will not have any connection or contact with his or her creditors if he or she has filed Chapter 13 Bankruptcy.

A Savannah GA Chapter 13 Bankruptcy attorney can help you file for Chapter 13 Bankruptcy.

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Savannah Georgia bankruptcy lawyer | Bankruptcy attorneys in Savannah GA and Richmond Hill - Filing for Chapter 13 Bankruptcy and Chapter 7 Bankruptcy in Savannah GA

http://www.savannahgabankruptcy.com

Savannah GA Bankruptcy forms

2010-03-04T02:01:00.000-05:00

Savannah GA Bankruptcy forms

While the first bankruptcy form you complete will be simple, as you move forward through these bankruptcy forms, they will become more complex.

Just how complicated is it? The initial form - Form B1 has an instruction guide totaling 14 entire pages! When you are filing jointly with another individual, then you will obviously require to fill the Codebtors form B6H (Schedule H), but besides this form, you will also require to complete some or all of the following:
Form B2 (Declaration); Form B3 (either A or B depending on your situation); B4, B5 and also some or all of the schedules (B6 A through J). Besides these, you must complete the financial statement information (Form B7) and also forms B8 (which is the Statement of Intention); B9 plus B9C (if you are an individual or are filing jointly), and various others!

Without question, the process of filing for Chapter 7 bankruptcy is a complex one. You can complete the forms on your own and save some dollars, however it may probably come with a few migraine headaches, which you are probably seeking to escape in the first place.

So, when choosing to file for Chapter 7 in Savannah GA seeking professional help of a Savannah GA Chapter 7 attorney.

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Savannah Georgia bankruptcy lawyer | Bankruptcy attorneys in Savannah GA and Richmond Hill - Filing for Chapter 13 Bankruptcy and Chapter 7 Bankruptcy in Savannah GA

http://www.savannahgabankruptcy.com

Savannah GA Chapter 7 Bankruptcy

2010-03-03T01:59:00.000-05:00

Savannah GA Chapter 7 Bankruptcy

Selecting to voluntarily file for Chapter 7 Bankruptcy is a tough decision to make for many people. After all, filing Chapter 7 basically is your method to invite your creditors to liquidate all of your assets and distribute the proceeds amongst themselves to pay off your debt.

Filing for Chapter 7 Bankruptcy is an emotionally charged decision. There are multiple forms that need to be completed. The filing for bankruptcy can be a complicated matter. So complicated, in fact, that it has provided opportunities for people to actually charge for their service of helping you through the complex paperwork.

Filling these bankruptcy forms can be a tough task. Starting with knowing which forms to complete, you will very soon notice that it can be easy to overlook a particular form, creating likely delays in the bankruptcy filing process. For example, when you are filing for Chapter 7 as a single debtor, there can typically be confusion as to whether other forms should to be completed.

For starters, if you are filing for Chapter 7 bankruptcy, you must start with Form B1. This is the starting point for everyone filing for any category of Bankruptcy (Chapter 11, 13, and all others). In other words, it is essentially the starting point. Therefore, the information given in this form is very basic. As you move ahead through the bankruptcy forms, they will become more tough. So when you are filing for Chapter 7 bankruptcy in Savannah GA, seek the services of a bankruptcy law firm in Savannah GA.

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Savannah Georgia bankruptcy lawyer | Bankruptcy attorneys in Savannah GA and Richmond Hill - Filing for Chapter 13 Bankruptcy and Chapter 7 Bankruptcy in Savannah GA

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Richmond Hill, Georgia Bankruptcy discharge

2010-03-02T05:14:00.000-05:00

Richmond Hill, Georgia Bankruptcy discharge

In a Chapter 7 bankruptcy, the individual files a petition in the court seeking to discharge all debts. The individual may have secured debt and unsecured debt and how each of these is handled can vary from case-to-case. An individual seeking protection under chapter 7 of the US Bankruptcy Code may have to give up a part of their personal property in order to satisfy some of the debts owed to the creditors.

The general grounds for denying a discharge to an individual debtor in Richmond Hill, Georgia include:
1. Debtor’s failure to keep or produce adequate books or financial records;
2. Failure of the debtor to explain satisfactorily any loss of assets;
3. The debtor committed a bankruptcy crime such as perjury;
4. Failure of the debtor to obey a lawful order of the bankruptcy court; or
5. The debtor fraudulently transferred, concealed, or destroyed property that would have become property of the estate.

The Chapter 13 debtor in Richmond Hill, Georgia is entitled to obtain a discharge upon successful completion of all payments under the repayment plan. In exchange for the willingness of the Chapter 13 debtor to maintain the discipline of a repayment plan for three to five years, a wider discharge is granted under Chapter 13 than in a Chapter 7 case.
Generally, the individual in Richmond Hill, Georgia is discharged from all debts provided for by the plan or debts that are disallowed, except for the following:
1. Certain long-term obligations such as a home mortgage;
2. Debts for alimony or child support;
3. Debts for most government-funded or guaranteed educational loans or benefit overpayments;
4. Debts arising from death or personal injury caused by driving while intoxicated or under the influence of drugs, which also refers to debts for restitution or a criminal fine included in a sentence on the debtor's conviction of a crime.

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Savannah Georgia bankruptcy lawyer | Bankruptcy attorneys in Savannah GA and Richmond Hill - Filing for Chapter 13 Bankruptcy and Chapter 7 Bankruptcy in Savannah GA

http://www.savannahgabankruptcy.com

Richmond Hill, Georgia Chapter 20 Bankruptcy

2010-03-01T05:13:00.000-05:00

Richmond Hill, Georgia Chapter 20 Bankruptcy

Most of your debts will be discharged by bankruptcy. When a debt is discharged in bankruptcy, it is no longer enforceable against you personally. The debtor is no longer required to pay the debt, or the portion of the debt that has been discharged. You cannot be subject to collection activity on the debt, including being sued on the debt. Creditors can, however, move to seize any secured asset on which there is a valid lien that has not been avoided (or cleared) by the bankruptcy court. A bankruptcy discharge will erase the debt and give the debtor a fresh start financially. Some debts must still be cleared. It is a rather longish list, but these debts will not be discharged: taxes; spousal and child support; debts arising out of willful misconduct and or malicious misconduct by the debtor; liability for injury or death from driving while intoxicated; non-dischargeable debts from a prior bankruptcy; student loans; criminal fines and penalties and forfeitures. Bankruptcy does not discharge the debtor from any debt incurred for money, property, services, or an extension, renewal, or refinancing of credit, to the extent obtained by false pretenses, a false representation, or actual fraud, other than a statement respecting the debtor’s or an insider’s financial condition.
When a debtor files a “Chapter 7” bankruptcy to discharge unsecured debts, followed by a "Chapter 13" bankruptcy to allow the debtor to catch up on mortgage payments, it is referred to as a “Chapter 20” filing The 2005 Bankruptcy Reform Act attempts to limit "Chapter 20" bankruptcies by setting limits on the filing of successive bankruptcies. Under present bankruptcy law a Chapter 13 bankruptcy can be filed only once in two years, and three years must be over after the filing of a Chapter 7 bankruptcy before a Chapter 13 filing. Some debtors attempt to circumvent this law by filing for Chapter 13 protection while the Chapter 7 petition is still pending. This option is not available in all courts. In a "Chapter 20" bankruptcy, debtors should be aware that missing even one mortgage payment after filing the initial "Chapter 7" petition may cost them their ability to save their home in a subsequent "Chapter 13" filing. Be careful: certain judges and creditors consider the move as a scam. Creditors have the right to oppose and the judge can toss the action. Few judges will allow the subsequent filing, if there is a legitimate reason.

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Savannah Georgia bankruptcy lawyer | Bankruptcy attorneys in Savannah GA and Richmond Hill - Filing for Chapter 13 Bankruptcy and Chapter 7 Bankruptcy in Savannah GA

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Chapter 11 Bankruptcy in Richmond Hill, Georgia

2010-02-28T05:12:00.000-05:00

Chapter 11 Bankruptcy in Richmond Hill, Georgia

Federal bankruptcy rules determine how companies in Richmond Hill, Georgia go out of business or recover from deep financial crisis. A bankrupt company might file under Chapter 11 of the Federal Bankruptcy Code to reorganize its business and try to become profitable again. Management continues to operate the day-to-day business activities, but all important business decisions should be approved by a bankruptcy court.

Chapter 11 permits a debtor to enter into an agreement with creditors under which all or a part of the business continues. The business’s debts are restructured so as to allow the debtor to continue the business operation. Basically any partnership, corporation or limited liability entity except a governmental unit may be a debtor in a Chapter 11 case in Richmond Hill, Georgia. Under Chapter 11, only the debtor may submit a plan of reorganization within 120 days of the initiation of the bankruptcy case. Under a typical reorganization plan, the debtor attempts to restructure the debts. Such a plan will generally include the repayment of loans secured by real estate to be paid over an extended time. Intermediate term loans will be proposed to be paid over the remaining useful life of the collateral, which is typically five to ten years.

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Savannah Georgia bankruptcy lawyer | Bankruptcy attorneys in Savannah GA and Richmond Hill - Filing for Chapter 13 Bankruptcy and Chapter 7 Bankruptcy in Savannah GA

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Bankruptcy and Tax in Richmond Hill, Georgia

2010-02-27T05:11:00.000-05:00

Bankruptcy and Tax in Richmond Hill, Georgia

When you are an individual debtor in Richmond Hill, Georgia who files for bankruptcy under chapter 7 or 11 of the US Bankruptcy Code in , a separate ‘‘estate’’ is created comprising of property that belonged to you prior to the filing date. The bankruptcy estate is a new taxable entity, absolutely independent from you as an individual taxpayer.

A penalty for failure to pay tax, including failure to pay estimated tax, will not be imposed for any period during which a title 11 bankruptcy case is pending if:
1. The tax was incurred before the earlier of the order for relief or (in an involuntary case) the appointment of a trustee, and
2. The bankruptcy petition was filed before the due date for the tax return (including extensions) or the date for imposing the penalty occurs on or after the day the bankruptcy case was filed.

This relief from the failure-to-pay penalty is not applicable to any penalty for failure to pay or deposit tax withheld or collected from others and required to be paid over to the US government. Nor does it apply to any penalty for failure to timely file a return.

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Savannah Georgia bankruptcy lawyer | Bankruptcy attorneys in Savannah GA and Richmond Hill - Filing for Chapter 13 Bankruptcy and Chapter 7 Bankruptcy in Savannah GA

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Richmond Hill, Georgia Chapter 11 and 13

2010-02-26T05:11:00.000-05:00

Richmond Hill, Georgia Chapter 11 and 13

A debtor under Chapter 11 in Richmond Hill, Georgia can enter into an agreement with creditors under which all or a part of the business continues. The debts of the business are restructured so as to permit the debtor to continue his operation of the business. Basically any partnership, corporation or limited liability entity except a governmental unit can be a debtor in a Chapter 11 case. Under Chapter 11, only the debtor can submit a plan of reorganization within 120 days of the initiation of the bankruptcy proceeding. Under a typical reorganization plan, the debtor will restructure his debts. Such a plan will generally include the repayment of loans secured by real property to be paid over an extended time. Intermediate term loans will be proposed to be paid over the remaining useful life of the security, which is generally five to ten years.

Chapter 13 bankruptcy filing in Richmond Hill, Georgia permits the individual debtor to pay down his debts, either the entire amount or a part of it, with the help of a payment plan under the supervision of the court. Those who file under this chapter can retain their possessions with them while they stick to the plan or after they have paid off the required portion of debt. This chapter involves the rehabilitation of the debtor to allow him or her to use future earnings to pay off debts.

A chapter 13 bankruptcy is also referred to as a wage earner's plan. Under this chapter, debtors set up a repayment plan to make installments to creditors over three to five years. Chapter 13 is designed for individuals with regular income who want to pay their debts but cannot to do so in a timely way. The purpose of this chapter is to allow financially distressed individual debtors to design and work out a repayment plan under which creditors are paid over an extended period of time usually three to five years. During this time the law forbids creditors from starting or continuing collection efforts.

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Savannah Georgia bankruptcy lawyer | Bankruptcy attorneys in Savannah GA and Richmond Hill - Filing for Chapter 13 Bankruptcy and Chapter 7 Bankruptcy in Savannah GA

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Richmond Hill, Georgia Chapter 11

2010-02-25T05:10:00.000-05:00

Richmond Hill, Georgia Chapter 11

Federal bankruptcy rules decide how corporations go out of business or recover from crippling debt. A bankrupt company may use Chapter 11 of the Federal Bankruptcy Code to reorganize its business and try to become profitable again. Management continues to run the routine business activities, but all significant business decisions should be approved by a bankruptcy court.

If the debtor owns a business or corporation n Richmond Hill, Georgia Chapter 11 is a reorganization proceeding that should be considered. There are certain circumstances you have to meet. Some individuals whose debts are more than the limits of Chapter 13 can file Chapter 11. In Chapter 11, the debtor generally continues in possession of assets and continues to operate any business, subject to the oversight of the court and the creditors committee. You propose a plan of reorganization to the creditors, who vote on it. If the majority accept it, the plan is confirmed by the court and it becomes binding on you and your creditors. Plans can provide for repayment from future income or sales of some or all of the assets.

In chapter 11 cases in Richmond Hill, Georgia the United States trustee, a federal employee, will not function as a case trustee, who is often a private individual. The US trustee is responsible for monitoring all chapter 11 cases and has mandate to appear and be heard on any issue in any case, but can not submit a plan. The case trustee, however, is responsible for management of the assets of the estate, operation of the debtor's business, and, if necessary, the submission of a plan of reorganization. Section 1106 of the US Code mandates the trustee to submit a plan "as soon as practicable" or, alternatively, to submit a report demonstrating why a plan will not be submitted or to recommend that the proceeding be converted to another chapter or dismissed.

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Savannah Georgia bankruptcy lawyer | Bankruptcy attorneys in Savannah GA and Richmond Hill - Filing for Chapter 13 Bankruptcy and Chapter 7 Bankruptcy in Savannah GA

http://www.savannahgabankruptcy.com

Medical Bills and Bankruptcy in Richmond Hill, Georgia

2010-02-24T05:09:00.000-05:00

Medical Bills and Bankruptcy in Richmond Hill, Georgia

Medical bills after a temporary illness or bills due to chronic health problems bring many individuals to the edge of financial illness in Richmond Hill, Georgia. Even in situations with the best medical insurance available, taking time off of employment and loss of income will adversely affect a person's finances. If you have substantial medical bills, filing a Chapter 7 Bankruptcy can eliminate your medical bills completely. If the bankruptcy means test determines you qualify to file for Chapter 7, it will permit you to discharge medical bills, hospital charges, doctor bills, medical collections, dental bills, as well as most type of medical debt. Medical bills are treated as unsecured debts, and will be considered in bankruptcy just like credit cards. As such, medical bills can be completely discharged in a Chapter 7 Bankruptcy.

Filing a bankruptcy proceeding in Richmond Hill, Georgia prevents creditors from taking action against the debtor. What prohibits creditors from acting is the automatic stay - an injunction issued by the court as soon as the case is filed. The automatic stay remains in effect until the case is closed. On motion, and after a hearing before the bankruptcy judge, a creditor may get an order granting relief from the stay. An order granting relief from the automatic stay allows a creditor to take certain permitted actions, which will be spelled out in the order, to collect a debt against you.

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Savannah Georgia bankruptcy lawyer | Bankruptcy attorneys in Savannah GA and Richmond Hill - Filing for Chapter 13 Bankruptcy and Chapter 7 Bankruptcy in Savannah GA

http://www.savannahgabankruptcy.com

Richmond Hill, Georgia Bankruptcy Attorney

2010-02-23T05:08:00.000-05:00

Richmond Hill, Georgia Bankruptcy Attorney

The bankruptcy attorney’s job in Richmond Hill, Georgia is difficult, and a lot of responsibility for ensuring checks is fixed on the attorney. The lawyer’s signature certifies that the petition has been properly inspected, and the proceeding does not abuse the bankruptcy process. The lawyer should also confirm that the proceeding is acceptable under the current law or that it is a good faith argument for the extension/modification of the current law. If there is a violation, the lawyer fees and the debtor cost can be determined and made payable to the trustee.

You first meeting with your bankruptcy attorney in Richmond Hill, Georgia is generally free. At the initial meeting, you should honestly explain your situation to the lawyer and try to gauge if you are comfortable with the lawyer and their staff. At the same time the lawyer will give you feedback on your situation and the options available.

When meeting with the attorney in Richmond Hill, Georgiafind out how long he or she has been in practice, what the specifics of their specialization are, approximately how many cases they have handled and what your expectations should be from the attorney in terms of representation. Also find out if the lawyer will be personally attending to your case and that it is not passed on to a junior lawyer or paralegal. Ask as many questions as you need and ensure that you are comfortable with the fact that you are appointing him as your bankruptcy lawyer.

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Savannah Georgia bankruptcy lawyer | Bankruptcy attorneys in Savannah GA and Richmond Hill - Filing for Chapter 13 Bankruptcy and Chapter 7 Bankruptcy in Savannah GA

http://www.savannahgabankruptcy.com

Richmond Hill, Georgia Bankruptcy Chapters 11 and 13

2010-02-22T05:08:00.000-05:00

Richmond Hill, Georgia Bankruptcy Chapters 11 and 13

An ordinary person may file under chapter 11 in Richmond Hill, Georgia however, the provisions of chapter 11 are usually used to reorganize a business. Chapter 11 permits the debtor to manage its business through a plan of reorganization, which must fulfill certain legal requirements. By creating chapter 11, the Congress provided the debtor a chance to restructure its finances so that it may continue to operate, provide its employees with jobs, pay its creditors, and produce a return for its stockholders.

When the bankruptcy means test shows that you cannot file for Chapter 7 Bankruptcy in Richmond Hill, Georgia you can instead opt to file for Chapter 13 Bankruptcy. A Chapter 13 Bankruptcy is a court administered repayment plan which will permit you to retain your most important assets while paying off your debts over time. If you file for Chapter 13 Bankruptcy you might be able to substantially lower your medical bills. Chapter 13 can allow you to repay your medical bills over a 3 to 5 year period of time depending on your disposable income. Many times, Chapter 13 Bankruptcy compels unsecured creditors like medical providers, hospitals, and doctor’s to accept pennies on the dollar.

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Savannah Georgia bankruptcy lawyer | Bankruptcy attorneys in Savannah GA and Richmond Hill - Filing for Chapter 13 Bankruptcy and Chapter 7 Bankruptcy in Savannah GA

http://www.savannahgabankruptcy.com

Richmond Hill, Georgia Bankruptcy

2010-02-21T05:05:00.000-05:00

Richmond Hill, Georgia Bankruptcy

Bankruptcy case in Richmond Hill, Georgia begins with the filing of a petition with the bankruptcy court. The filing of the petition creates a bankruptcy estate, which usually consists of all the assets of the person filing the bankruptcy petition. A separate taxable entity is created if the bankruptcy petition is submitted by an individual under chapter 7 or chapter 11 of the US Bankruptcy Code.

A bankruptcy petition is the document which starts the bankruptcy process. The petition may be a voluntary petition, which is filed by the debtor, or it can be an involuntary one, that is filed by creditors who meet certain criteria. The voluntary petition must be as provided in Form 1 of the Official Forms prescribed by the Judicial conference of the United States. The Official Forms can be purchased at legal stationary stores.

The documentation required when filing for bankruptcy in Richmond Hill, Georgia has increased. For instance, you should provide additional information that details all income and expenses. If the expenses exceed the IRS allowance, a special circumstances document must be submitted which explains the necessity of the additional expense incurred. A statement of accuracy should also be submitted, together with these special circumstance documents.

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Savannah Georgia bankruptcy lawyer | Bankruptcy attorneys in Savannah GA and Richmond Hill - Filing for Chapter 13 Bankruptcy and Chapter 7 Bankruptcy in Savannah GA

http://www.savannahgabankruptcy.com

Liberty County, GA Bankruptcy discharge

2010-02-20T04:59:00.000-05:00

Liberty County, GA Bankruptcy discharge

In a Chapter 7 bankruptcy, the individual files a petition in the court seeking to discharge all debts. The individual can have secured debt as well as unsecured debt and how each of these is handled can change from case-to-case. An individual filing under chapter 7 of the US Bankruptcy Code may have to surrender a part of his or her property in order to satisfy some of the debts owed to the creditors.

The usual grounds for denying a discharge to an individual debtor in Liberty County, GA include:
1. The debtor failed to keep or produce adequate books or financial records;
2. Debtor’s failure to explain satisfactorily any loss of assets;
3. The debtor is guilty of a bankruptcy crime such as perjury;
4. The debtor failed to obey a lawful order of the bankruptcy court; or
5. The debtor fraudulently transferred, concealed, or destroyed property that would have become property of the estate.

The Chapter 13 debtor in Liberty County, GA is entitled to get a discharge on successful completion of entire payments under the repayment plan. In exchange for the willingness of the Chapter 13 debtor to undergo the discipline of a repayment plan for three to five years, a wider discharge is granted under Chapter 13 than in a Chapter 7 case.
Usually, the individual in Liberty County, GA is discharged from all debts provided for by the plan or debts that are rejected, except for the following:
1. Certain long-term obligations such as a home mortgage;
2. Alimony and Child support;
3. Debts for most government-funded or guaranteed educational loans or benefit overpayments;
4. Debts arising from death or personal injury caused by driving while intoxicated or under the influence of drugs, which also refers to debts for restitution or a criminal fine included in a sentence on the debtor's conviction of a crime.

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Savannah Georgia bankruptcy lawyer | Bankruptcy attorneys in Savannah GA and Richmond Hill - Filing for Chapter 13 Bankruptcy and Chapter 7 Bankruptcy in Savannah GA

http://www.savannahgabankruptcy.com

Liberty County, GA Chapter 20 Bankruptcy

2010-02-19T04:59:00.000-05:00

Liberty County, GA Chapter 20 Bankruptcy

Bankruptcy will discharge most of your debts. When a debt is discharged in bankruptcy, it is no longer enforceable against the debtor personally. You are no longer required to pay the debt, or the portion of the debt that has been discharged. The debtor be subject to collection activity on the debt, including being sued on the debt. Creditors can, however, take steps to seize any secured asset on which there is a valid lien that has not been discharged (or cleared) by the bankruptcy court. A bankruptcy discharge will erase the debt and give the debtor a fresh start financially. Some debts must still be paid. It is a rather longish list, but these debts will not be discharged: taxes; spousal and child support; debts arising out of willful misconduct and or malicious misconduct by the debtor; liability for injury or death from driving while intoxicated; non-dischargeable debts from a prior bankruptcy; student loans; criminal fines and penalties and forfeitures. It does not discharge the debtor from any debt incurred for money, property, services, or an extension, renewal, or refinancing of credit, to the extent obtained by false pretenses, a false representation, or actual fraud, other than a statement respecting the debtor’s or an insider’s financial condition.

When a debtor files a “Chapter 7” bankruptcy to discharge unsecured debts, followed by a "Chapter 13" bankruptcy to allow the debtor to catch up on mortgage payments, it is referred to as a “Chapter 20” filing The 2005 Bankruptcy Reform Act tries to limit "Chapter 20" bankruptcies by imposing limits on the filing of successive bankruptcies. Under existing bankruptcy law a Chapter 13 bankruptcy can be filed only once in two years, and three years must pass after the filing of a Chapter 7 bankruptcy before a Chapter 13 filing. Some debtors attempt to overcome this law by filing for Chapter 13 protection while the Chapter 7 petition is still pending. That option is not available in all courts. In a "Chapter 20" bankruptcy, debtors should know that missing even one mortgage payment after filing the initial "Chapter 7" petition can cost them their ability to save their home in a later "Chapter 13" filing. Be warned: certain judges and creditors consider the move as a scam. Creditors have the right to oppose and the judge can toss the action. Some judges will allow the subsequent filing, provided there is a legitimate reason.

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Savannah Georgia bankruptcy lawyer | Bankruptcy attorneys in Savannah GA and Richmond Hill - Filing for Chapter 13 Bankruptcy and Chapter 7 Bankruptcy in Savannah GA

http://www.savannahgabankruptcy.com

Chapter 11 Bankruptcy in Liberty County, GA

2010-02-18T04:58:00.000-05:00

Chapter 11 Bankruptcy in Liberty County, GA

Federal bankruptcy laws decide how corporations in Liberty County, GA go out of business or recover from deep financial crisis. A bankrupt company might use Chapter 11 of the Federal Bankruptcy Code to reorganize its activities and try to become profitable again. The company continues to run the day-to-day business activities, but all major business decisions should be approved by a bankruptcy court.

A debtor under Chapter 11 can enter into an agreement with creditors under which all or a part of the business continues. The debts of the business are restructured so as to allow the debtor to continue the business operation. In general any partnership, corporation or limited liability entity except a governmental unit can be a debtor in a Chapter 11 proceeding in Liberty County, GA. Under Chapter 11, only the debtor can submit a plan of reorganization within 120 days of the initiation of the bankruptcy case. Under a typical reorganization plan, the debtor attempts to restructure his debts. Such a plan will generally include the repayment of loans secured by real estate to be paid over an extended time. Intermediate term loans will be proposed to be paid over the remaining useful life of the collateral, which is generally five to ten years.

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Savannah Georgia bankruptcy lawyer | Bankruptcy attorneys in Savannah GA and Richmond Hill - Filing for Chapter 13 Bankruptcy and Chapter 7 Bankruptcy in Savannah GA

http://www.savannahgabankruptcy.com

Bankruptcy and Tax in Liberty County, GA

2010-02-17T04:57:00.000-05:00

Bankruptcy and Tax in Liberty County, GA

When you are an individual debtor in Liberty County, GA filing for bankruptcy under chapter 7 or 11 of the Federal Bankruptcy Code in , an independent ‘‘estate’’ is created comprising of property which belonged to you prior to the filing date. The bankruptcy estate will be a new taxable entity, absolutely independent from you as an individual taxpayer.

There is no penalty for failure to pay tax, including failure to pay estimated tax, will not be imposed for any period during which a title 11 bankruptcy case is pending if:
1. The tax was incurred before the earlier of the order for relief or (in an involuntary case) the appointment of a trustee, and
2. The bankruptcy case was filed before the due date for the tax return (including extensions) or the date for imposing the penalty occurs on or after the day the bankruptcy case was filed.

The relief from the failure-to-pay penalty is not applicable to any penalty for failure to pay or deposit tax withheld or collected from others and required to be paid over to the US government. Nor does it apply to any penalty for failure to timely file a return.

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Savannah Georgia bankruptcy lawyer | Bankruptcy attorneys in Savannah GA and Richmond Hill - Filing for Chapter 13 Bankruptcy and Chapter 7 Bankruptcy in Savannah GA

http://www.savannahgabankruptcy.com

Liberty County, GA Chapter 11 and 13

2010-02-16T04:56:00.000-05:00

Liberty County, GA Chapter 11 and 13

Chapter 11 bankruptcy in Liberty County, GA allows a debtor to enter into an agreement with creditors under which all or a part of the business continues. The business’s debts are restructured to permit the debtor to continue the business operation. In general any partnership, corporation or limited liability entity except a governmental unit can be a debtor in a Chapter 11 case. Under Chapter 11, only the debtor may submit a plan of reorganization within 120 days of the initiation of the bankruptcy case. Under a typical reorganization plan, the debtor will restructure his debts. Such a plan will generally provide for the repayment of loans secured by real estate to be paid over an extended period of time. Intermediate term loans will be proposed to be paid over the remaining useful life of the security, which is generally five to ten years.

Chapter 13 bankruptcy filing in Liberty County, GA allows the individual debtor to pay down his debts, either whole or a part of it, under a payment plan under the supervision of the court. Debtors filing under this chapter can retain their properties with them while they stick to the plan or after they have cleared the required portion of debt. This chapter involves the rehabilitation of the debtor to allow the debtor to use future earnings to pay off debts.

A chapter 13 bankruptcy is also called a wage earner's plan. Under this chapter, debtors propose a repayment plan to make installments to creditors over three to five years. Chapter 13 is designed for individuals with regular income who want to pay their debts but are unable to do so in a timely way. The purpose of this chapter is to allow financially distressed individual debtors to design and work out a repayment plan under which creditors are paid over an extended period of time usually three to five years. The creditors are forbidden from starting or continuing collection efforts during this time.

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Savannah Georgia bankruptcy lawyer | Bankruptcy attorneys in Savannah GA and Richmond Hill - Filing for Chapter 13 Bankruptcy and Chapter 7 Bankruptcy in Savannah GA

http://www.savannahgabankruptcy.com

Liberty County, GA Chapter 11

2010-02-15T04:55:00.000-05:00

Liberty County, GA Chapter 11

Federal bankruptcy regulations decide how corporations go out of business or recover from deep debt. A bankrupt company can file under Chapter 11 of the Federal Bankruptcy Code to reorganize its business and attempt to become profitable again. The company continues to operate the daily business operations, however all important business decisions have to be approved by a bankruptcy court.

If the debtor owns a business or corporation n Liberty County, GA Chapter 11 is a reorganization proceeding to consider. There are certain circumstances you should meet. Some individual debtors whose debts are larger than the limits of Chapter 13 may file Chapter 11. In Chapter 11, the debtor generally remains in possession of assets and continues to operate any business, subject to the oversight of the court and the creditors committee. The debtor proposes a plan of reorganization to the creditors, who vote on it. If the majority accept it, the plan is confirmed by the court and it becomes binding on the debtor and the creditors. Plans may call for repayment from future income or sales of some or all of the assets.

In chapter 11 proceedings in Liberty County, GA the United States trustee, a federal employee, can not act as a case trustee, who is usually a private individual. The US trustee is responsible for observing all chapter 11 proceedings and has mandate to appear and be heard on any issue in any case, but may not file a plan. The case trustee, on the other hand, is responsible for management of the property of the estate, operation of the debtor's business, and, if required, the submission of a plan of reorganization. Section 1106 of the Federal Code authorizes the trustee to submit a plan "as soon as practicable" or, alternatively, to file a report demonstrating the reasons a plan will not be submitted or to recommend that the case be converted to another chapter or dismissed.

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Savannah Georgia bankruptcy lawyer | Bankruptcy attorneys in Savannah GA and Richmond Hill - Filing for Chapter 13 Bankruptcy and Chapter 7 Bankruptcy in Savannah GA

http://www.savannahgabankruptcy.com

Medical Bills and Bankruptcy in Liberty County, GA

2010-02-14T04:54:00.000-05:00

Medical Bills and Bankruptcy in Liberty County, GA

Medical bills from a temporary illness or bills because of chronic medical problems push many individuals to the edge of financial illness in Liberty County, GA. Even in situations where people have the best medical insurance available, taking time off from employment and loss of income can adversely affect a person's finances. When you have significant medical bills, filing a Chapter 7 Bankruptcy can eliminate your medical bills completely. If the bankruptcy means test says you qualify to file for Chapter 7, it will allow you to discharge medical bills, hospital charges, doctor bills, medical collections, dental bills, and also most type of medical debt. Medical bills are treated as unsecured debts, and will be considered in bankruptcy similar to credit cards. Hence, medical bills can be completely discharged in a Chapter 7 Bankruptcy.

Filing a bankruptcy proceeding in Liberty County, GA prevents creditors from initiating action against the debtor. What prohibits creditors from taking steps is the automatic stay - an injunction passed by the court as soon as you file the case. The automatic stay continues until the case is complete. On motion, and after a hearing before the bankruptcy judge, a creditor can obtain an order for relief from the stay. An order granting relief from the automatic stay permits a creditor to take certain specified actions, which will be spelled out in the order, to collect a debt against the debtor.

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Savannah Georgia bankruptcy lawyer | Bankruptcy attorneys in Savannah GA and Richmond Hill - Filing for Chapter 13 Bankruptcy and Chapter 7 Bankruptcy in Savannah GA

http://www.savannahgabankruptcy.com

Liberty County, GA Bankruptcy Attorney

2010-02-13T04:54:00.000-05:00

Liberty County, GA Bankruptcy Attorney

The bankruptcy attorney’s job in Liberty County, GA is difficult, and a lot of responsibility for ensuring checks is fixed on the attorney. The attorney’s signature certifies that the petition has been reasonably inspected, and the proceeding is not an abuse of the bankruptcy process. The lawyer should also certify that the proceeding is acceptable under the current law or that it is a good faith argument for the extension/modification of the existing rules. If there is a violation, the lawyer fees and the debtor cost will be assessed and made payable to the trustee.

You first meeting with your bankruptcy attorney in Liberty County, GA is generally free. During the initial meeting, you must honestly explain your situation to the attorney and try to determine if you are comfortable with the attorney and their staff. At the same time the attorney will give you feedback on your situation and the options available.

When talking with the attorney in Liberty County, GAcheck how long he or she has been in practice, what the specifics of their specialization are, approximately how many cases they have handled and what your expectations should be from the attorney in terms of representation. Also find out if the attorney will be personally appearing in your case and that it will not be passed on to a junior attorney or paralegal. Ask as many questions as you need and ensure that you are comfortable with the fact that you are appointing him as your bankruptcy lawyer.

---------------------
Savannah Georgia bankruptcy lawyer | Bankruptcy attorneys in Savannah GA and Richmond Hill - Filing for Chapter 13 Bankruptcy and Chapter 7 Bankruptcy in Savannah GA

http://www.savannahgabankruptcy.com

Liberty County, GA Bankruptcy Chapters 11 and 13

2010-02-12T04:53:00.000-05:00

Liberty County, GA Bankruptcy Chapters 11 and 13

An individual can file under chapter 11 in Liberty County, GA but, the provisions of chapter 11 are often availed to reorganize a business. Chapter 11 permits the debtor to run its business through a plan of reorganization, which should meet certain statutory criteria. By creating chapter 11, the Congress provided the debtor an opportunity to restructure its finances so that it can continue to operate, provide its employees with jobs, pay its creditors, and produce a return for its stockholders.

In situations where the bankruptcy means test shows that you cannot file for Chapter 7 Bankruptcy in Liberty County, GA you can instead opt to file for Chapter 13 Bankruptcy. A Chapter 13 Bankruptcy is a court supervised repayment plan which can permit you to keep your most important property while repaying your debts over a period of time. If you file for Chapter 13 Bankruptcy you might be able to significantly reduce your medical bills. Chapter 13 can permit you to pay off the medical bills over a 3 to 5 year period of time based on your disposable income. Many times, Chapter 13 Bankruptcy forces unsecured creditors such as medical providers, hospitals, and doctor’s to accept pennies on the dollar.

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Savannah Georgia bankruptcy lawyer | Bankruptcy attorneys in Savannah GA and Richmond Hill - Filing for Chapter 13 Bankruptcy and Chapter 7 Bankruptcy in Savannah GA

http://www.savannahgabankruptcy.com

Liberty County, GA Bankruptcy

2010-02-11T04:51:00.000-05:00

Liberty County, GA Bankruptcy

Bankruptcy case in Liberty County, GA starts with the filing of a petition with the bankruptcy court. The filing of the petition creates a bankruptcy estate, that typically consists of all the assets of the person filing the bankruptcy petition. An independent taxable entity is created if the bankruptcy petition is filed by an individual under chapter 7 or chapter 11 of the Federal Bankruptcy Code.

A bankruptcy petition is the document that starts the bankruptcy process. A petition can be a voluntary petition, which is filed by the debtor, or it may be an involuntary one, which is filed by creditors that meet certain requirements. A voluntary petition should be as provided in Form 1 of the Official Forms prescribed by the Judicial conference of the United States. The Official Forms may be purchased at legal stationary stores.

The documentation necessary when filing for bankruptcy in Liberty County, GA has increased. For instance, you should provide additional information that details all income and expenses. In cases where the expenses are more than the IRS allowance, a special circumstances document must be submitted which explains the necessity of the additional expense incurred. A statement of accuracy must also be submitted, together with these special circumstance documents.

---------------------
Savannah Georgia bankruptcy lawyer | Bankruptcy attorneys in Savannah GA and Richmond Hill - Filing for Chapter 13 Bankruptcy and Chapter 7 Bankruptcy in Savannah GA

http://www.savannahgabankruptcy.com

Chatham County, GA Bankruptcy discharge

2010-02-10T02:47:00.000-05:00

Chatham County, GA Bankruptcy discharge

In a Chapter 7 bankruptcy, the individual files a petition in the court seeking to discharge all debts. The individual can have secured debt and unsecured debt and how each of these is handled can differ from case-to-case. An individual seeking protection under chapter 7 of the US Bankruptcy Code may have to surrender a portion of his or her assets in order to satisfy some of the debts owed to the creditors.

The general grounds for denying a discharge to an individual debtor in Chatham County, GA include:
1. The debtor failed to keep or produce adequate books or financial records;
2. Failure of the debtor to explain satisfactorily any loss of assets;
3. The debtor is guilty of a bankruptcy crime such as perjury;
4. Failure of the debtor to obey a lawful order of the bankruptcy court; or
5. The debtor fraudulently transferred, concealed, or destroyed property that would have become property of the estate.

The Chapter 13 debtor in Chatham County, GA is entitled to get a discharge on successful completion of entire payments under the Chapter 13 plan. In exchange for the willingness of the Chapter 13 debtor to maintain the discipline of a repayment plan for 3 to 5 years, a wider discharge is granted under Chapter 13 than in a Chapter 7 case.
Usually, the debtor in Chatham County, GA is discharged from all debts under the plan or debts that are rejected, except for the following:
1. Some long-term obligations such as a home mortgage;
2. Debts for alimony or child support;
3. Debts for most government-funded or guaranteed educational loans or benefit overpayments;
4. Debts arising from death or personal injury caused by driving while intoxicated or under the influence of drugs, which also refers to debts for restitution or a criminal fine included in a sentence on the debtor's conviction of a crime.

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Savannah Georgia bankruptcy lawyer | Bankruptcy attorneys in Savannah GA and Richmond Hill - Filing for Chapter 13 Bankruptcy and Chapter 7 Bankruptcy in Savannah GA

http://www.savannahgabankruptcy.com

Chatham County, GA Chapter 20 Bankruptcy

2010-02-09T02:46:00.000-05:00

Chatham County, GA Chapter 20 Bankruptcy

Bankruptcy will discharge most of your debts. When a debt is discharged in bankruptcy, it is no longer enforceable against the debtor personally. The debtor is no longer required to pay the debt, or the portion of the debt that has been discharged. You cannot be subject to collection activity on the debt, including being sued on the debt. Creditors can, however, move to seize any collateral on which there is a valid lien that has not been discharged (or cleared) by the bankruptcy court. A bankruptcy discharge serves to erase the debt and give the debtor a new start financially. Some debts must still be paid. It is a rather longish list, but the following debts will not be discharged: taxes; spousal and child support; debts arising out of willful misconduct and or malicious misconduct by the debtor; liability for injury or death from driving while intoxicated; non-dischargeable debts from a prior bankruptcy; student loans; criminal fines and penalties and forfeitures. It does not discharge the debtor from debts incurred for money, property, services, or an extension, renewal, or refinancing of credit, to the extent obtained by false pretenses, a false representation, or actual fraud, other than a statement respecting the debtor’s or an insider’s financial condition.
A so-called "Chapter 20" bankruptcy is the process filing of a "Chapter 7" bankruptcy to discharge unsecured debts, followed by a "Chapter 13" bankruptcy to allow the debtor to catch up on mortgage payments The 2005 Bankruptcy Reform Act attempts to limit "Chapter 20" bankruptcies by setting limits on the filing of successive bankruptcies. Under present bankruptcy law a Chapter 13 bankruptcy may be filed only once every two years, and three years must be over after the filing of a Chapter 7 bankruptcy before a Chapter 13 filing. Some debtors attempt to overcome this law by filing for Chapter 13 protection while the Chapter 7 petition is still pending. This option is not available in all courts. In a "Chapter 20" bankruptcy, debtors should know that missing even a single mortgage payment after filing the initial "Chapter 7" petition may cost them their ability to save their house in a subsequent "Chapter 13" filing. Be warned: some judges and creditors consider the move as a scam. Creditors have the right to object and the judge can toss the action. Few judges will allow the second filing, if there is a legitimate reason.

---------------------
Savannah Georgia bankruptcy lawyer | Bankruptcy attorneys in Savannah GA and Richmond Hill - Filing for Chapter 13 Bankruptcy and Chapter 7 Bankruptcy in Savannah GA

http://www.savannahgabankruptcy.com

Chapter 11 Bankruptcy in Chatham County, GA

2010-02-08T02:46:00.000-05:00

Chapter 11 Bankruptcy in Chatham County, GA

Federal bankruptcy rules govern how companies in Chatham County, GA go out of business or recover from deep debt. A bankrupt corporation might use Chapter 11 of the US Bankruptcy Code to reorganize its business and try to become profitable again. The company continues to run the routine business operations, but all significant business decisions must be approved by a bankruptcy court.

A debtor under Chapter 11 can enter into an agreement with creditors under which all or a part of the business continues. The debts of the business are restructured to allow the debtor to continue his operation of the business. Basically any partnership, corporation or limited liability entity except a governmental unit can be a debtor in a Chapter 11 case in Chatham County, GA. Under Chapter 11, only the debtor may submit a plan of reorganization within 120 days of the filing of the bankruptcy case. Under a typical reorganization plan, the debtor attempts to restructure the debts. Such a plan will generally provide for the repayment of loans secured by real estate to be paid over an extended time. Intermediate term loans will be proposed to be paid over the remaining useful life of the collateral, which is typically five to ten years.

---------------------
Savannah Georgia bankruptcy lawyer | Bankruptcy attorneys in Savannah GA and Richmond Hill - Filing for Chapter 13 Bankruptcy and Chapter 7 Bankruptcy in Savannah GA

http://www.savannahgabankruptcy.com

Bankruptcy and Tax in Chatham County, GA

2010-02-07T02:45:00.000-05:00

Bankruptcy and Tax in Chatham County, GA

If you are an individual debtor in Chatham County, GA filing for bankruptcy under chapter 7 or 11 of the Federal Bankruptcy Code in , an independent ‘‘estate’’ is created comprising of property which belonged to you before the filing date. This bankruptcy estate is a new taxable entity, completely separate from you as an individual taxpayer.

A penalty for failure to pay tax, including failure to pay estimated tax, will not be imposed for any period during which a title 11 bankruptcy case is pending provided:
1. The tax was incurred before the earlier of the order for relief or (in an involuntary case) the appointment of a trustee, and
2. The bankruptcy petition was filed before the due date for the tax return (including extensions) or the date for imposing the penalty occurs on or after the day the bankruptcy case was filed.

This relief from the failure-to-pay penalty is not applicable to any penalty for failure to pay or deposit tax withheld or collected from others and required to be paid over to the United States government. Nor does it apply to any penalty for failure to timely file a return.

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Savannah Georgia bankruptcy lawyer | Bankruptcy attorneys in Savannah GA and Richmond Hill - Filing for Chapter 13 Bankruptcy and Chapter 7 Bankruptcy in Savannah GA

http://www.savannahgabankruptcy.com

Chatham County, GA Chapter 11 and 13

2010-02-06T02:45:00.000-05:00

Chatham County, GA Chapter 11 and 13

Chapter 11 bankruptcy in Chatham County, GA allows a debtor to enter into an agreement with creditors under which all or a part of the business continues. The business’s debts are restructured so as to permit the debtor to continue the business operation. In general any partnership, corporation or limited liability entity except a governmental unit can be a debtor in a Chapter 11 case. Under Chapter 11, only the debtor may submit a plan of reorganization within 120 days of the initiation of the bankruptcy case. Under a typical reorganization plan, the debtor attempts to restructure his debts. Such a plan will generally provide for the repayment of loans secured by real property to be paid over an extended time. Intermediate term loans are generally proposed to be paid over the remaining useful life of the collateral, which is typically five to ten years.

Chapter 13 bankruptcy filing in Chatham County, GA allows the individual debtor to pay down his debts, either the entire amount or a part of it, under a payment plan under the supervision of the court. Debtors filing under this chapter can keep their possessions with them while they stick to the plan or after they have paid off the required portion of debt. It involves the rehabilitation of the debtor to let him or her to use future earnings to pay off creditors.

A chapter 13 bankruptcy is also known as a wage earner's plan. Under this chapter, debtors set up a repayment plan to make installments to creditors over three to five years. Chapter 13 is especially for individuals with regular income who want to clear their debts but cannot to do so in a timely manner. The purpose of Chapter 13 is to enable financially distressed individual debtors to design and work out a repayment plan under which creditors are paid over an extended period of time generally three to five years. During this time the law forbids creditors from starting or continuing collection efforts.

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Savannah Georgia bankruptcy lawyer | Bankruptcy attorneys in Savannah GA and Richmond Hill - Filing for Chapter 13 Bankruptcy and Chapter 7 Bankruptcy in Savannah GA

http://www.savannahgabankruptcy.com

Chatham County, GA Chapter 11

2010-02-05T02:44:00.000-05:00

Chatham County, GA Chapter 11

Federal bankruptcy laws determine how corporations go out of business or recover from crippling financial crisis. A bankrupt corporation may file under Chapter 11 of the US Bankruptcy Code to reorganize its business and attempt to become profitable again. The company continues to operate the routine business activities, however all significant business decisions must be approved by a bankruptcy court.

If the debtor owns a business or corporation n Chatham County, GA Chapter 11 is a reorganization proceeding to consider. There are special requirements the debtor should meet. Some individuals whose debts are more than the limits of Chapter 13 may file Chapter 11. In Chapter 11, the debtor usually continues in possession of assets and continues to operate any business, subject to the oversight of the court and the creditors committee. You propose a plan of reorganization to the creditors, who vote on it. If accepted by the majority, the court will confirm the plan and it becomes binding on you and your creditors. Plans can call for repayment from future income or sales of some or all of the assets.

In chapter 11 cases in Chatham County, GA the United States trustee, a federal employee, can not function as a case trustee, who is usually a private individual. The US trustee is responsible for observing all chapter 11 cases and has authority to appear and be heard on any issue in any case, but may not file a plan. The case trustee, however, is responsible for management of the property of the estate, management of the debtor's business, and, if necessary, the filing of a plan of reorganization. Section 1106 of the Federal Code mandates the trustee to submit a plan "as soon as practicable" or, alternatively, to file a report detailing the reasons a plan will not be submitted or to recommend that the proceeding be converted to another chapter or dismissed.

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Savannah Georgia bankruptcy lawyer | Bankruptcy attorneys in Savannah GA and Richmond Hill - Filing for Chapter 13 Bankruptcy and Chapter 7 Bankruptcy in Savannah GA

http://www.savannahgabankruptcy.com

Medical Bills and Bankruptcy in Chatham County, GA

2010-02-04T02:43:00.000-05:00

Medical Bills and Bankruptcy in Chatham County, GA

Medical bills after a temporary illness or bills because of chronic health problems bring many individuals to the edge of financial illness in Chatham County, GA. Even in situations where people have the best medical insurance available, taking time off of work and loss of income will adversely affect a person's finances. If you have significant medical bills, filing a Chapter 7 Bankruptcy can eliminate your medical bills completely. If the bankruptcy means test shows you qualify to file for Chapter 7, it will allow you to discharge medical bills, hospital charges, doctor bills, medical collections, dental bills, as well as most type of medical debt. Medical bills are considered unsecured debts, and are treated in bankruptcy just like credit cards. Hence, medical bills can be totally eliminated in a Chapter 7 Bankruptcy.

Filing a bankruptcy case in Chatham County, GA stops creditors from initiating action against you. What stops creditors from taking steps is the automatic stay - an injunction passed by the court as soon as you file the case. The automatic stay remains in effect until the case is closed. On motion, and after a hearing before the bankruptcy judge, a creditor may get an order granting relief from the stay. An order granting relief from the automatic stay allows a creditor to take certain permitted actions, which will be spelled out in the order, to collect a debt against you.

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Savannah Georgia bankruptcy lawyer | Bankruptcy attorneys in Savannah GA and Richmond Hill - Filing for Chapter 13 Bankruptcy and Chapter 7 Bankruptcy in Savannah GA

http://www.savannahgabankruptcy.com

Chatham County, GA Bankruptcy Attorney

2010-02-03T02:42:00.000-05:00

Chatham County, GA Bankruptcy Attorney

The bankruptcy attorney’s job in Chatham County, GA is complex, and a lot of responsibility for ensuring checks is put on the attorney. The attorney’s signature certifies that the petition has been properly inspected, and the proceeding does not abuse the bankruptcy process. The attorney must also confirm that the proceeding is acceptable under the existing law or that it is a good faith argument for the extension/modification of the existing rules. If there is a violation, the lawyer fees and the debtor cost will be calculated and made payable to the trustee.

You first meeting with your bankruptcy lawyer in Chatham County, GA is generally free. During the first meeting, you should honestly explain your situation to the attorney and try to gauge if you are comfortable with the attorney and their staff. At the same time the lawyer will give you feedback on your situation and your options available.

When meeting with the lawyer in Chatham County, GAcheck how long he or she has been in practice, what the specifics of their specialization are, approximately how many cases they have handled and what your expectations should be from the lawyer in terms of representation. Also check if the lawyer will be personally appearing in your case and that it is not passed on to a junior lawyer or paralegal. Ask as many questions as you need and make sure that you are comfortable with the fact that you are appointing him as your bankruptcy attorney.

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Savannah Georgia bankruptcy lawyer | Bankruptcy attorneys in Savannah GA and Richmond Hill - Filing for Chapter 13 Bankruptcy and Chapter 7 Bankruptcy in Savannah GA

http://www.savannahgabankruptcy.com

Chatham County, GA Bankruptcy Chapters 11 and 13

2010-02-02T02:41:00.000-05:00

Chatham County, GA Bankruptcy Chapters 11 and 13

An ordinary person may file under chapter 11 in Chatham County, GA however, the provisions of chapter 11 are mostly availed to reorganize a business. Chapter 11 allows the debtor to run its business by means of a plan of reorganization, which must fulfill certain statutory requirements. By legislating chapter 11, the Congress provided the debtor a chance to restructure its finances so that it may continue to operate, provide employment, pay its creditors, and provide a return for its stockholders.

When the bankruptcy means test says that you aren’t eligible to file for Chapter 7 Bankruptcy in Chatham County, GA you can instead opt to file for Chapter 13 Bankruptcy. A Chapter 13 Bankruptcy is a court supervised repayment plan which will permit you to retain your most important assets while paying off your debts over a period of time. If you file for Chapter 13 Bankruptcy you might be able to substantially reduce your medical bills. Chapter 13 can permit you to repay the medical bills over a 3 to 5 year period of time depending on your disposable income. Many times, Chapter 13 Bankruptcy compels unsecured creditors such as medical providers, hospitals, and doctor’s to accept pennies on the dollar.

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Savannah Georgia bankruptcy lawyer | Bankruptcy attorneys in Savannah GA and Richmond Hill - Filing for Chapter 13 Bankruptcy and Chapter 7 Bankruptcy in Savannah GA

http://www.savannahgabankruptcy.com

Chatham County, GA Bankruptcy

2010-02-01T02:36:00.000-05:00

Chatham County, GA Bankruptcy

Bankruptcy process in Chatham County, GA begins with the filing of a petition with the bankruptcy court. The filing of the petition creates a bankruptcy estate, that typically consists of all the assets of the person filing the bankruptcy petition. An independent taxable entity is established if the bankruptcy petition is submitted by an individual under chapter 7 or chapter 11 of the Federal Bankruptcy Code.

The bankruptcy petition is a document that initiates the bankruptcy process. The petition may be a voluntary petition, which is filed by the debtor, or it may be an involuntary petition, which is filed by creditors that meet certain requirements. The voluntary petition must be as provided in Form 1 of the Official Forms prescribed by the Judicial conference of the United States. The Official Forms can be obtained at legal stationary stores.

The documentation required when filing for bankruptcy in Chatham County, GA has increased. For instance, the debtor should provide additional information that details all income and expenses. If the expenses exceed the IRS allowance, a special circumstances document must be submitted which explains the necessity of the extra expense incurred. A statement of accuracy must also be submitted, together with these special circumstance documents.

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Savannah Georgia bankruptcy lawyer | Bankruptcy attorneys in Savannah GA and Richmond Hill - Filing for Chapter 13 Bankruptcy and Chapter 7 Bankruptcy in Savannah GA

http://www.savannahgabankruptcy.com

Savannah Georgia Bankruptcy discharge

2010-01-31T06:45:00.000-05:00

Savannah Georgia Bankruptcy discharge

Chapter 7 bankruptcy is a process in which an individual petitions the court to discharge all of their debts. The debtor may have secured debt as well as unsecured debt and how each of these is handled can differ from case-to-case. A debtor filing under chapter 7 of the Federal Bankruptcy Code may have to give up a part of their personal assets in order to satisfy some of the debts owed to the creditors.

The usual grounds for denying a discharge to an individual debtor in Savannah Georgia include:
1. Failure of the debtor to keep or produce adequate books or financial records;
2. The debtor failed to explain satisfactorily any loss of assets;
3. The debtor is guilty of a bankruptcy crime such as perjury;
4. Debtor’s failure to obey a lawful order of the bankruptcy court; or
5. The debtor fraudulently transferred, concealed, or destroyed property that would have become property of the estate.

The Chapter 13 debtor in Savannah Georgia is entitled to get a discharge on successful completion of all payments under the repayment plan. In exchange for the willingness of the Chapter 13 debtor to undergo the discipline of a repayment plan for 3 to 5 years, a wider discharge is available under Chapter 13 than in a Chapter 7 case.

As a general rule, the individual in Savannah Georgia is discharged from all debts under the plan or debts that are rejected, except for the following:
1. Some long-term obligations such as a home mortgage;
2. Debts for alimony or child support;
3. Debts for most government-funded or guaranteed educational loans or benefit overpayments;
4. Debts arising from death or personal injury caused by driving while intoxicated or under the influence of drugs, which also refers to debts for restitution or a criminal fine included in a sentence on the debtor's conviction of a crime.

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Savannah Georgia bankruptcy lawyer | Bankruptcy attorneys in Savannah GA and Richmond Hill - Filing for Chapter 13 Bankruptcy and Chapter 7 Bankruptcy in Savannah GA

http://www.savannahgabankruptcy.com

Savannah Georgia Chapter 20 Bankruptcy

2010-01-30T06:44:00.000-05:00

Savannah Georgia Chapter 20 Bankruptcy

Most of your debts will be discharged by bankruptcy. When a debt is discharged in bankruptcy, it is no longer enforceable against you personally. The debtor is no longer required to pay the debt, or the portion of the debt that has been discharged. You cannot be subject to collection activity on the debt, including being sued on the debt. Creditors can, however, take steps to seize any secured asset on which there is a valid lien that has not been avoided (or cleared) by the bankruptcy court. A bankruptcy discharge serves to erase the debt and give the debtor a new start financially. Some debts must still be paid. It is a rather lengthy list, but the following debts will not be discharged: taxes; spousal and child support; debts arising out of willful misconduct and or malicious misconduct by the debtor; liability for injury or death from driving while intoxicated; non-dischargeable debts from a prior bankruptcy; student loans; criminal fines and penalties and forfeitures. Bankruptcy does not discharge the debtor from debts incurred for money, property, services, or an extension, renewal, or refinancing of credit, to the extent obtained by false pretenses, a false representation, or actual fraud, other than a statement respecting the debtor’s or an insider’s financial condition.
When a debtor files a “Chapter 7” bankruptcy to discharge unsecured debts, followed by a "Chapter 13" bankruptcy to allow the debtor to catch up on mortgage payments, it is referred to as a “Chapter 20” filing The 2005 Bankruptcy Reform Act attempts to limit "Chapter 20" bankruptcies by setting limits on the filing of successive bankruptcies. Under present bankruptcy law a Chapter 13 bankruptcy can be filed only once in two years, and three years must pass after the filing of a Chapter 7 bankruptcy before a Chapter 13 filing. Few debtors try to overcome this restriction by filing for Chapter 13 protection while the Chapter 7 petition is still pending. This option is not available in all courts. In a "Chapter 20" bankruptcy, debtors should be aware that missing even one mortgage payment after filing the initial "Chapter 7" petition can cost them their ability to save their house in a subsequent "Chapter 13" filing. Be careful: some judges and creditors see the move as a scam. Creditors have the right to object and the judge can dismiss the action. Some judges will allow the subsequent filing, if there is a legitimate reason.

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Savannah Georgia bankruptcy lawyer | Bankruptcy attorneys in Savannah GA and Richmond Hill - Filing for Chapter 13 Bankruptcy and Chapter 7 Bankruptcy in Savannah GA

http://www.savannahgabankruptcy.com

Chapter 11 Bankruptcy in Savannah Georgia

2010-01-29T06:43:00.000-05:00

Chapter 11 Bankruptcy in Savannah Georgia

Federal bankruptcy rules determine how companies in Savannah Georgia go out of business or recover from crippling debt. A bankrupt company might use Chapter 11 of the US Bankruptcy Code to reorganize its business and try to become profitable again. Management continues to operate the daily business operations, however all important business decisions should be approved by a bankruptcy court.

A debtor under Chapter 11 can enter into an agreement with creditors under which all or a part of the business continues. The debts of the business are restructured to allow the debtor to continue his business operation. Basically any partnership, corporation or limited liability entity except a governmental unit can be a debtor in a Chapter 11 case in Savannah Georgia. Under Chapter 11, only the debtor may submit a plan of reorganization within 120 days of the initiation of the bankruptcy proceeding. Under a typical reorganization agreement, the debtor will restructure his debts. Such a plan will generally include the repayment of loans secured by real property to be paid over an extended time. Intermediate term loans will be proposed to be paid over the remaining useful life of the collateral, which is generally five to ten years.

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Savannah Georgia bankruptcy lawyer | Bankruptcy attorneys in Savannah GA and Richmond Hill - Filing for Chapter 13 Bankruptcy and Chapter 7 Bankruptcy in Savannah GA

http://www.savannahgabankruptcy.com

Bankruptcy and Tax in Savannah Georgia

2010-01-28T06:42:00.000-05:00

Bankruptcy and Tax in Savannah Georgia

If you are an individual debtor in Savannah Georgia filing for bankruptcy under chapter 7 or 11 of the Federal Bankruptcy Code in , an independent ‘‘estate’’ is established consisting of property that belonged to you before the date of filing. The bankruptcy estate is a new taxable entity, completely separate from you as an individual taxpayer.

There is no penalty for failure to pay tax, including failure to pay estimated tax, will not be imposed for any period during which a title 11 bankruptcy case is pending provided:
1. The tax was incurred before the earlier of the order for relief or (in an involuntary case) the appointment of a trustee, and
2. The bankruptcy petition was filed before the due date for the tax return (including extensions) or the date for imposing the penalty occurs on or after the day the bankruptcy petition was filed.

The relief from the failure-to-pay penalty is not applicable to any penalty for failure to pay or deposit tax withheld or collected from others and required to be paid over to the United States government. Nor does it apply to any penalty for failure to timely file a return.

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Savannah Georgia bankruptcy lawyer | Bankruptcy attorneys in Savannah GA and Richmond Hill - Filing for Chapter 13 Bankruptcy and Chapter 7 Bankruptcy in Savannah GA

http://www.savannahgabankruptcy.com

Savannah Georgia Chapter 11 and 13

2010-01-27T06:41:00.000-05:00

Savannah Georgia Chapter 11 and 13

A debtor under Chapter 11 in Savannah Georgia can enter into an agreement with creditors under which all or a part of the business continues. The debts of the business are restructured to allow the debtor to continue the operation of the business. In general any partnership, corporation or limited liability entity except a governmental unit may be a debtor in a Chapter 11 proceeding. Under Chapter 11, only the debtor can submit a plan of reorganization within 120 days of the initiation of the bankruptcy case. Under a typical reorganization agreement, the debtor attempts to restructure the debts. Such a plan will generally include the repayment of loans secured by real property to be paid over an extended period of time. Intermediate term loans are generally proposed to be paid over the remaining useful life of the security, which is typically five to ten years.

Chapter 13 bankruptcy filing in Savannah Georgia permits the individual debtor to pay down his debts, either whole or a part of it, with the help of a payment plan under the supervision of the court. Debtors filing under this chapter can keep their possessions with them while they stick to the plan or after they have cleared the required portion of debt. It involves the rehabilitation of the debtor to let him or her to use future earnings to pay off creditors.

A chapter 13 bankruptcy is also referred to as a wage earner's plan. Under this chapter, debtors set up a repayment plan to make installments to creditors over three to five years. Chapter 13 is designed for individuals with regular income who want to pay their debts but cannot to do so in a timely manner. The purpose of Chapter 13 is to enable financially distressed individual debtors to design and work out a repayment plan under which the debts are paid off over an extended period of time generally three to five years. The creditors are forbidden from starting or continuing collection efforts during this time.

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Savannah Georgia bankruptcy lawyer | Bankruptcy attorneys in Savannah GA and Richmond Hill - Filing for Chapter 13 Bankruptcy and Chapter 7 Bankruptcy in Savannah GA

http://www.savannahgabankruptcy.com

Augusta GA bankruptcy attorney - Documents for filing bankruptcy

2010-01-26T11:07:00.000-05:00

Augusta GA bankruptcy attorney - Documents for filing bankruptcy

Bankruptcy filing in Augusta
The documentation required at the time of filing for bankruptcy has increased. For instance, the debtor must provide additional information that details all income and expenses. In cases where the expenses are more than the IRS allowance, a special circumstances document has to be submitted which explains the necessity of the extra expense incurred. A statement of accuracy should also be submitted, together with these special circumstance documents.

The attorneys job is further multiplied, and a lot of responsibility for ensuring checks is fixed on the attorney. The attorneys signature certifies that the petition has been properly inspected, and the proceeding does not abuse the bankruptcy process. The lawyer should also confirm that the proceeding is acceptable under the existing rules or that it is a good faith argument for the extension/modification of the existing law. If there is a violation, the attorney fees and the debtor cost will be assessed and made payable to the trustee.

Savannah Georgia Chapter 11

2010-01-26T06:41:00.000-05:00

Savannah Georgia Chapter 11

Federal bankruptcy laws govern how companies go out of business or recover from deep debt. A bankrupt company may use Chapter 11 of the Federal Bankruptcy Code to reorganize its activities and try to become profitable again. The company continues to run the day-to-day business activities, however all major business decisions have to be approved by a bankruptcy court.

If you own a business or corporation n Savannah Georgia Chapter 11 is a reorganization proceeding to consider. There are certain circumstances you should meet. Some individual debtors whose debts are more than the limits of Chapter 13 may file Chapter 11. In Chapter 11, the debtor usually remains in possession of assets and continues to operate any business, subject to the oversight of the court and the creditors committee. The debtor proposes a plan of reorganization to the creditors, who vote on it. If the majority accept it, the plan is confirmed by the court and it becomes binding on you and your creditors. Plans may provide for repayment from future income or sales of some or all of the assets.

In chapter 11 cases in Savannah Georgia the United States trustee, a federal employee, can not act as a case trustee, who is usually a private individual. The US trustee is responsible for monitoring all chapter 11 proceedings and has mandate to appear and be heard on any issue in any case, but can not file a plan. The case trustee, however, is responsible for management of the property of the estate, operation of the debtor's business, and, if necessary, the filing of a plan of reorganization. Section 1106 of the Federal Code authorizes the trustee to submit a plan "as soon as practicable" or, alternatively, to submit a report detailing the reasons a plan will not be filed or to recommend that the proceeding be converted to another chapter or dismissed.

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Savannah Georgia bankruptcy lawyer | Bankruptcy attorneys in Savannah GA and Richmond Hill - Filing for Chapter 13 Bankruptcy and Chapter 7 Bankruptcy in Savannah GA

http://www.savannahgabankruptcy.com

Medical Bills and Bankruptcy in Savannah Georgia

2010-01-25T06:40:00.000-05:00

Medical Bills and Bankruptcy in Savannah Georgia

Medical bills from a temporary illness or bills due to chronic health problems bring many individuals to the edge of financial illness in Savannah Georgia. Even in situations with the best medical insurance available, taking time off from employment and loss of income will adversely affect a person's finances. When you have huge medical bills, filing a Chapter 7 Bankruptcy can discharge your medical bills completely. If the bankruptcy means test shows you qualify to file for Chapter 7, it will allow you to eliminate medical bills, hospital charges, doctor bills, medical collections, dental bills, and also most type of medical debt. Medical bills are considered unsecured debts, and will be considered in bankruptcy just like credit cards. Hence, medical bills can be totally eliminated in a Chapter 7 Bankruptcy.

Filing a bankruptcy case in Savannah Georgia prevents creditors from taking action against the debtor. What prohibits creditors from taking steps is the automatic stay - an injunction passed by the court as soon as the case is filed. The automatic stay continues until the case is over. On motion, and after a hearing before the bankruptcy judge, a creditor can obtain an order granting relief from the stay. An order for relief from the automatic stay allows a creditor to take certain permitted actions, which will be spelled out in the order, to collect a debt against you.

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Savannah Georgia bankruptcy lawyer | Bankruptcy attorneys in Savannah GA and Richmond Hill - Filing for Chapter 13 Bankruptcy and Chapter 7 Bankruptcy in Savannah GA

http://www.savannahgabankruptcy.com

Savannah Georgia Bankruptcy Attorney

2010-01-24T06:39:00.000-05:00

Savannah Georgia Bankruptcy Attorney

The bankruptcy lawyer’s job in Savannah Georgia is difficult, and a lot of responsibility for ensuring checks is fixed on the attorney. The attorney’s signature certifies that the petition has been properly inspected, and the proceeding is not an abuse of the bankruptcy process. The lawyer must also confirm that the proceeding is acceptable under the existing rules or that it is a good faith argument for the extension/modification of the existing law. If there is a violation, the attorney fees and the debtor cost can be calculated and made payable to the trustee.

You initial consultation with your bankruptcy lawyer in Savannah Georgia is usually free. During the initial meeting, you must frankly explain your situation to the attorney and try to gauge if you are comfortable with the attorney and their staff. At the same time the lawyer will give you feedback on your situation and the options available.

When conversing with the lawyer in Savannah Georgiafind out how long he or she has been in practice, what the specifics of their specialization are, approximately how many cases they have handled and what your expectations should be from the attorney in terms of representation. Also check if the lawyer will be personally appearing in your case and that it is not passed on to a junior lawyer or paralegal. Ask as many questions as you need and make sure that you are comfortable with the fact that you are appointing him as your bankruptcy lawyer.

---------------------
Savannah Georgia bankruptcy lawyer | Bankruptcy attorneys in Savannah GA and Richmond Hill - Filing for Chapter 13 Bankruptcy and Chapter 7 Bankruptcy in Savannah GA

http://www.savannahgabankruptcy.com