November 26, 2007

• Will Your Income Tax Refund Count in a Means Test Calculation?

  I am considering chapter 7. I am not sure about the median income info because I am no longer employed and working a temp job and used my retirement to live on. (…)

August 16, 2007

• The Date You File Your Bankruptcy Case Can Have Important Consequences

  Your decision about when to file your Chapter 7 or Chapter 13 bankruptcy case can have important and far reaching consequences with regard to the bankruptcy relief you obtain.  Here are some considerations about which you should be aware:

  Semi-annual Changes in the U.S. (…)

August 4, 2007

• Can I File Bankruptcy Without Involving My Spouse?

  If you are married, can you file an individual Chapter 7 or Chapter 13 and not include your spouse? (…)

June 27, 2007

• Budgets in Bankruptcy Cases Must be Based on Real Numbers

  One of the trends I have noticed over the year and a half since the bankruptcy law changed is that we can no longer rely on guesses or estimates when it comes to creating a budget.  My experience in a recently filed case illustrates this point. (…)

May 19, 2007

• CCCS vs. Bankruptcy - What Makes the Most Sense?

  I am sitting here wondering two things…am I qualify to file bankrupcy and should I file bankrupcy. I have unsecured debts…c/Cards and student loans avg. 50,000. (…)

March 1, 2007

• Do You Have an Absolute Right to File Chapter 7 If You Pass the Means Test?

  Mr. (…)

December 6, 2006

• Georgia Foreclosures Up 99%

  This morning's Atlanta Journal/Constitution published an article entitled "Georgia Foreclosures Jump 99%; rate is nation's 3rd highest."    According to this article, one out of every 449 houses will go into foreclosure.  Why the increase?  Interest rates on adjustable rate mortgages are going up.  In addition, underwriting standards by major lenders were relaxed over the past few years. (…)

September 26, 2006

• Student Loan in Your Chapter 13 - Congratulations, You are Officially in Limbo!

  We have run across a confusing predicament for Chapter 13 cases filed in the Northern District of Georgia that involve student loans.  According to one of the assistant trustees whose identity we will protect, the judges in the Northern District have not yet decided how debtors should treat student loans in Chapter 13 case. (…)

July 9, 2006

• Full Disclosure on Bankruptcy Petitions a Must

  My colleague attorney Scott Riddle recently posted on his Georgia Bankruptcy Blog an important reminder to both debtors and their counsel about the importance of full and complete disclosure of assets and debts in bankruptcy petitions. (…)

June 5, 2006

• Behind on Mortgage and Vehicles - is Chapter 13 an Option?

  My mortgage is about to go into foreclosure–as we are two months behind right now and we also owe for June…The mortgage company will not accept a partial payment…and will initiate foreclosure proceedings very soon..we are also in trouble with our car notes and timeshare payments… should we consider bankruptcy if we cannot work out something with our lender???–Mark

  Jonathan Ginsberg responds: Mark, if your mortgage company will not work with you, then your only real option is Chapter 13.  I think you are smart to consider this option early - which is preferable to waiting until a few days before foreclosure to look into the process.  At a minimum, you should do the following now:

  1) request copies of all 3 credit reports (both you and your wife) - credit reports are free in Georgia but will take a few days to arrive in the mail (by contrast if you need them immediately, I can get them for $45 per person).  This is another advantage of starting early

  2) get your credit counseling certificate.  Credit counseling is now mandatory and if you wait until the last minute, you may not be able to get an appointment.  I have a section about credit counseling on my Atlanta Bankruptcy web site.  Consumer Credit Counseling of Atlanta and Hummingbird Credit Counseling are two organizations that my clients have used. (…)

June 1, 2006

• Budget Numbers that Apply to Your Case

  One of the biggest changes in the new bankruptcy law has to do with the new approved budget figures now being used by the Bankruptcy Courts.  Previously, when I prepared a budget for a case filing, I spoke to my client, reviewed the budget shown on his questionnaire, tweaked it to get rid of any obvious problems and filed it.  As long as we were reasonable, there generally were no problems. (…)