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Bankruptcy Law

Avoiding Tax Liens In Bankruptcy

If the discharge in the Chapter 7 case eliminates the debtor’s personal liability for the tax year or years for which there is a lien, the lien survives only as a charge on any equity in the property that the debtor owned at the beginning of the case. The lien, though not discharged, does not attach to assets that you acquire after the case is filed. If you do not own any property, or have any personal assets at the beginning of your Chapter 7 case, then very likely the IRS liens cannot attach to anything. Therefore, a motion to determine the value of the lien may be… Read More.

Stop Creditor Harassment

Are you sick of the endless phone calls to your home? Have you received collection calls at work? Are you sick of the threats, intimidation and creditor harassment? If so, contact a lawyer at Bob Phillips Law, and find out more about your legal rights. When you file bankruptcy, an order will be issued that instructs potential creditors that further attempts to collect a debt must be ceased for a period of time while the bankruptcy court is considering the pending bankruptcy case. If your creditor continues to call shortly after you file and you are… Read More.

Frequent Questions about Bankruptcy

Are certain debts non-dischargeable? Yes. The most common non-dischargeable debts are alimony, child support, certain property settlement agreements, certain income tax liabilities, Department of Revenue sales tax liability, Internal Revenue Service pay roll tax liability or trust fund liability, and many student loans. In addition, certain debt created by fraud, embezzlement, or conversion can be found to be non-dischargeable. Do I have to list all of my creditors? Yes. Bankruptcy law requires a full and complete disclosure of all debts owed. Bankruptcy schedules are… Read More.

New Bankruptcy Laws

If you or your business in Georgia is having financial debt problems and just can’t seem to keep pace with mounting bills, a bankruptcy may provide the relief you need to seek a second chance and a new financial beginning. At your free initial consultation, we will discuss the facts of your financial situation. After we listen to your concerns and answer your questions, you will have a better ability to determine if bankruptcy is right for you. We are pleased to assist people and businesses in bankruptcy filings. We handle your bankruptcy case from beginning to end. We… Read More.

Chapter 13 Bankruptcy

A person may be eligible for Chapter 13 relief . A Chapter 13 bankruptcy has many potential benefits. Depending on the facts of your case, it may stop a home foreclosure or vehicle repossession, stop a wage garnishment, and prevent future collection calls and creditor harassment. When we represent a client in a Chapter 13 bankruptcy case, we submit a financial debt repayment plan on their behalf to the bankruptcy court. The plan usually calls for the repayment of certain debts over a period of three or five years. For example, if you are past due on your mortgage payment,… Read More.

Chapter 11 Bankruptcy

Chapter 11 bankruptcy is a form of bankruptcy reorganization available to individuals, corporations and partnerships. It has no limits on the amount of debt, as Chapter 13 does. It is the usual choice for large businesses seeking to restructure their debt. The debtor usually remains in possession of its assets, and operates the business under the supervision of the court and for the benefit of creditors. The debtor in possession is a fiduciary for the creditors. If the debtor’s management is ineffective or less than honest, a trustee may be appointed. A creditors… Read More.

Chapter 7 Bankruptcy

Reduce or Eliminate Dischargeable Debts Chapter 7 bankruptcy is the most common form of bankruptcy filed in the United States. Depending on the facts of your case, a Chapter 7 bankruptcy may be able to help you to: *Eliminate or reduce debts (e.g. credit cards, medical debts, other debts) * Stop creditor harassment and annoying collection calls * Stop a home foreclosure * Stop a wage garnishment * Stop a car repossession or asset/property repossession * Stop troublesome lawsuits What is a discharge? A Chapter 7 discharge is an order signed by the bankruptcy judge declaring… Read More.