What Happens When a Spouse Declares Bankruptcy in Georgia? At Burrow & Associates, one of the questions clients frequently ask our bankruptcy team relates to married couples and filing for bankruptcy. The couples want to know what will happen if only one of them file for bankruptcy. Will it impact the other spouse? In today’s…
Prior to filing for bankruptcy, you may wonder, “Is this going to affect my credit score?” or “How long does a bankruptcy stay on my credit?” To make an informed decision about your financial situation, it helps to know how bankruptcy will affect your credit card debt and credit score. The short answer is, yes,…
If you’re considering filing for bankruptcy, you may have come across several different types of bankruptcy. Understanding which type you qualify for can be just as important as making the decision to file. The most common individual bankruptcy case is called a Chapter 7 bankruptcy. What is Chapter 7 bankruptcy? Below, we’ve provided important answers…
If you have recently decided bankruptcy is the right choice for you, you may have questions about how to file for bankruptcy. Understanding timelines as well as the different forms you will need to complete is essential to the success of your bankruptcy case. For many, the paperwork alone can seem overwhelming. While it is…
If you’ve made the decision that bankruptcy is the right choice for you, you may find yourself asking, “What happens when you file for bankruptcy?” The process of filing is complex, and it requires a great deal of documentation, strong organization skills, and attention to detail. Without a good sense of what to expect, it…
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While some people may relate bankruptcy with poor money management, this is simply not true. Individuals with financial hardships may be dealing with unforeseen circumstances such as a serious injury or illness, a divorce, or the loss of a job. Bankruptcy is designed to help you eliminate or pay off your debts while still keeping…
The current Coronavirus pandemic has caused tremendous financial hardship for many Americans. An April 30, 2020 BBC News article reported that 30 million people in the United States have filed for unemployment benefits in a span of six weeks. In these tumultuous and uncertain times, it is hard to believe that the COVID-19 pandemic may…
As Atlanta shifts from social distancing to a mandated 14-day stay-at-home order, many are concerned about the health and financial ramifications of the coronavirus crisis. Businesses not considered essential have already temporarily shuttered their doors, and this may leave many with reduced or no income. If you’re out of work, you may find it difficult…
There are many reasons for filing bankruptcy. An individual might be facing foreclosure of a home, repossession of a vehicle, overwhelming credit card debt, medical debt, or debt from a failed business. While it is important to understand why people file for bankruptcy, it is also beneficial to consider when to file. Your timing can…
