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Georgia Bankruptcy Questions & Answers
3 Answers | Asked in Bankruptcy for Georgia on
Q: I am a creditor in a chapter 13 bankruptcy with a 100% repayment plan. When will I start receiving payments?

The bankruptcy was filed 6 months ago. The plan was confirmed 6 weeks ago.

W. J. Winterstein Jr.
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W. J. Winterstein Jr.
answered on Jun 17, 2024

The timing of distributions by the Ch. 13 Trustee rests with that trustee.

Maddening as it can be, I have heard more than one Judge say, "my Trustee". And once was in a case where the Trustee had over $200K of my client's money, held those funds in an IOLTA account (the...
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3 Answers | Asked in Bankruptcy for Georgia on
Q: I am a creditor in a chapter 13 bankruptcy with a 100% repayment plan. When will I start receiving payments?

The bankruptcy was filed 6 months ago. The plan was confirmed 6 weeks ago.

James L. Arrasmith
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answered on Jun 19, 2024

In a Chapter 13 bankruptcy case with a confirmed 100% repayment plan, creditors typically start receiving payments after the plan is confirmed and the debtor begins making payments to the trustee. The timeline for when you can expect to receive payments depends on a few factors:

1. The...
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2 Answers | Asked in Bankruptcy for Georgia on
Q: How long after filing will I be able to purchase a home? I am reading horror stories of people being told by lawyers

That when you file you’ll be able to get a home in 2 years but I’m being told by people who have been through it already they are 7 years out and they still cannot get a home and having trouble building credit because no one will give them loan or credit card or home etc

W. J. Winterstein Jr.
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W. J. Winterstein Jr.
answered on Jun 2, 2024

This question is best directed to any of the lenders out there, each of whom makes a "credit decision" upon loan applications.

Currently, interest rates are high, and the Fed has been tightening the money supply.

My own experience is that, more than usually, lenders, even...
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2 Answers | Asked in Bankruptcy for Georgia on
Q: How long after filing will I be able to purchase a home? I am reading horror stories of people being told by lawyers

That when you file you’ll be able to get a home in 2 years but I’m being told by people who have been through it already they are 7 years out and they still cannot get a home and having trouble building credit because no one will give them loan or credit card or home etc

James L. Arrasmith
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answered on Jun 3, 2024

After filing for bankruptcy, the timeline for purchasing a home can vary depending on several factors. Generally, you might be able to qualify for a mortgage two to four years after a bankruptcy discharge, but this can depend on the type of loan you are seeking and how well you have rebuilt your... View More

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1 Answer | Asked in Bankruptcy for Georgia on
Q: I’m 70 years old. I’m on a $2000 month fixed income with 15k credit card debt. should i file bankruptcy?

My credit score is 750. I’ve Always paid my bills on time and always pay more than the minimum on credit cards. Now I can barely pay the minimum. citi card won't lower the 24.99% rate or extend the 0%. I can’t pay off $15k in credit card debt at my age. i am considering credit counseling... View More

James L. Arrasmith
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answered on Apr 28, 2024

As someone in your situation, bankruptcy could potentially be a viable option to consider, but it's important to carefully weigh all your options before making a decision. Here are some thoughts and suggestions:

1. Consult with a bankruptcy attorney or credit counselor: It's...
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1 Answer | Asked in Bankruptcy for Georgia on
Q: Ex-husband listed me as a creditor, but lied and said he didn't know where I lived on his chapter 7?

He filed in 2019, but I just found out this year after pull some paperwork for cour. He put down he didn't know where I lived at. He did know because we have children and he lived with me the year prior to him filing. The chapter was discharged.

James L. Arrasmith
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answered on Apr 20, 2024

It's important to address this situation by understanding the potential implications of your ex-husband's actions. Since he declared bankruptcy and listed you as a creditor, stating he didn't know your address could affect various legal aspects, especially if there were debts owed to... View More

2 Answers | Asked in Bankruptcy and Contracts for Georgia on
Q: Ex-husband filed chapter 7 in 2019, but I just found he added me as a creditor and said he didn't know where I lived.

I found out after looking up some court information that he put down he did not know where I live, but he lived with me prior and had to pay child support at time. Can I be removed off the creditor list? I have agreement he has yet to pay me for that was signed before he filed.

James L. Arrasmith
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answered on Apr 20, 2024

In your situation, it's important to first clarify the nature of the agreement and the debt involved. If the agreement was for child support or another personal obligation, and he filed bankruptcy, you might still be able to enforce the agreement. Bankruptcy generally does not discharge debts... View More

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2 Answers | Asked in Bankruptcy and Contracts for Georgia on
Q: Ex-husband filed chapter 7 in 2019, but I just found he added me as a creditor and said he didn't know where I lived.

I found out after looking up some court information that he put down he did not know where I live, but he lived with me prior and had to pay child support at time. Can I be removed off the creditor list? I have agreement he has yet to pay me for that was signed before he filed.

Timothy Denison
Timothy Denison
answered on Apr 20, 2024

It sounds like you are a creditor bc of the unpaid agreement but that should not affect you getting paid bc domestic and other support obligations are non-dischargeable. You might, however, want to report his fraud regarding where you lived to the US Trustee handling his case.

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1 Answer | Asked in Bankruptcy for Georgia on
Q: Should I contact the trustee?

I loaned money to someone who has now filed chapter 13. I was purposely (not accidentally) left off the creditor list. Should I report that to the trustee for the case?

James L. Arrasmith
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answered on Feb 4, 2024

Yes, you should consider contacting the trustee in the Chapter 13 bankruptcy case. If you loaned money to someone who has intentionally left you off the creditor list, it's important to address this issue with the trustee. Filing a proof of claim with the bankruptcy court can help protect your... View More

2 Answers | Asked in Bankruptcy for Georgia on
Q: When a husband and wife are co-creditors on a loan, which one signs the proof of claim in a chapter 13 bankruptcy?
James L. Arrasmith
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answered on Feb 4, 2024

In a Chapter 13 bankruptcy case, when a loan is jointly held by a husband and wife as co-creditors, either party can sign the proof of claim form. However, it is important to ensure that the form clearly indicates that the claim is being filed on behalf of both parties. This can be achieved by... View More

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2 Answers | Asked in Bankruptcy for Georgia on
Q: When a husband and wife are co-creditors on a loan, which one signs the proof of claim in a chapter 13 bankruptcy?
W. J. Winterstein Jr.
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W. J. Winterstein Jr.
answered on Feb 4, 2024

This is a fairly simple question, but it's not your first, nor even your second. It and those before it illustrate an important point: Bankruptcy can quickly become a complex thing, even for those who have practiced within its scope for years.

Inother words, the bankruptcy area of...
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2 Answers | Asked in Bankruptcy for Georgia on
Q: Any recourse for cosigners?

I received notice from a credit company that the person I cosigned a loan for has filed chapter 13. There is a stay in place, but once that stay is removed I will be obligated to pay off the remainder of the loan. Is there any way to avoid this debt?

James L. Arrasmith
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answered on Feb 4, 2024

As a cosigner, you are legally obligated to repay the loan if the primary borrower defaults or cannot make payments, as is the case in a Chapter 13 bankruptcy filing. However, there are a few steps you can take to manage or potentially avoid this debt.

Firstly, communicate with the lender...
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2 Answers | Asked in Bankruptcy for Georgia on
Q: Any recourse for cosigners?

I received notice from a credit company that the person I cosigned a loan for has filed chapter 13. There is a stay in place, but once that stay is removed I will be obligated to pay off the remainder of the loan. Is there any way to avoid this debt?

Martha Warriner Jarrett
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answered on Feb 3, 2024

In a chapter 13, the debtor is required to pay some or all of their debts over a 3 to 5-year period. So you should check out the proposed plan to see what percentage of the debt you cosigned on will be paid. If you are still left being held responsible for some portion of the obligation, there is... View More

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3 Answers | Asked in Bankruptcy for Georgia on
Q: How should I identify myself on a proof of claim?

I loaned money to a friend and I also co-signed a loan for her. Both loans are still active. Now my friend has filed chapter 13. Should I identify myself as a creditor only or a creditor and a guarantor on my proof of claim form?

James L. Arrasmith
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answered on Feb 4, 2024

When submitting a proof of claim in a Chapter 13 bankruptcy case where you've loaned money to the debtor and also co-signed a loan, it's important to accurately reflect your role in relation to the debtor's obligations. Given your situation, you should identify yourself both as a... View More

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3 Answers | Asked in Bankruptcy for Georgia on
Q: How should I identify myself on a proof of claim?

I loaned money to a friend and I also co-signed a loan for her. Both loans are still active. Now my friend has filed chapter 13. Should I identify myself as a creditor only or a creditor and a guarantor on my proof of claim form?

W. J. Winterstein Jr.
PREMIUM
W. J. Winterstein Jr.
answered on Feb 2, 2024

While your question indicates that both loans are "active", you don't say whether your obligation on the guaranty has been called/paid.

As a guarantor on a loan not yet repaid by the debtor, you have a contingent claim (check the bankruptcy Schedules to see how the debtor...
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2 Answers | Asked in Bankruptcy, Consumer Law and Criminal Law for Georgia on
Q: Do I need the help of a consumer law attorney, a bankruptcy attorney or law enforcement?

A coworker borrowed in excess of forty thousand dollars more than eighteen months ago offering fraudulent excuses for needing the money and lying about how/when she would repay. There has never been any attempt on her part to repay even a portion of the money, and today I learned she has now filed... View More

James L. Arrasmith
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answered on Feb 4, 2024

In this situation, it's advisable to consult with a consumer law attorney. They can help you understand your legal rights and options for pursuing the repayment of the borrowed funds. While bankruptcy may affect the outcome, consulting a consumer law attorney is a good first step. They can... View More

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2 Answers | Asked in Bankruptcy, Consumer Law and Criminal Law for Georgia on
Q: Do I need the help of a consumer law attorney, a bankruptcy attorney or law enforcement?

A coworker borrowed in excess of forty thousand dollars more than eighteen months ago offering fraudulent excuses for needing the money and lying about how/when she would repay. There has never been any attempt on her part to repay even a portion of the money, and today I learned she has now filed... View More

W. J. Winterstein Jr.
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W. J. Winterstein Jr.
answered on Jan 30, 2024

Creditors not listed by the debtor on a bankruptcy Petition and Schedules may not have their claims discharged, UNLESS they have reason to know about the bankruptcy filing.

If the bankruptcy case is known, a Proof of Claim, at least, should be filed.

There are other alternatives....
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1 Answer | Asked in Bankruptcy for Georgia on
Q: I’ve read using credit cards before filing bankruptcy is considered fraud, is that true?

I want to file bankruptcy chapter 7 because we are barely making it! We have enough income to pay credit cards(no missed payments) bills and then only a little left. So in order to buy groceries or basic needs we still use credit cards. We’re essentially paying credit cards and using what we... View More

James L. Arrasmith
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answered on Jan 13, 2024

Using credit cards for essential expenses before filing for Chapter 7 bankruptcy is not automatically considered fraud. It's essential to understand that bankruptcy laws are designed to provide individuals and families with a fresh start when they are struggling with overwhelming debt. While... View More

2 Answers | Asked in Bankruptcy for Georgia on
Q: How would a tax return be affected with bankruptcy?

Me and my husband file together(I have no job) we have two small children, how would the tax return be affected before or after bankruptcy? Would it be taken? Would it be easier for him to file married and separate? Or would that be fraudulent?

James L. Arrasmith
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answered on Jan 13, 2024

Filing your tax return can be affected by bankruptcy, especially if you're filing jointly with your husband. It's important to note that tax laws and bankruptcy laws are complex, and the impact can vary based on your specific circumstances.

Before bankruptcy: If you file a joint...
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2 Answers | Asked in Bankruptcy for Georgia on
Q: Will having no income affect filing?

Wanting to file chapter 7 on credit card debt but the debt was incurred when I didn’t have a job. We always used my husbands income to make payments but with inflation and rising interest rates the credit cards have become unmanageable. Will it affect me filing? Will it affect my husband?

James L. Arrasmith
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answered on Jan 13, 2024

Having no income, or limited income, can affect your ability to file for Chapter 7 bankruptcy, but it doesn't necessarily prevent you from doing so. Chapter 7 bankruptcy is typically intended for individuals with unmanageable debt who cannot reasonably repay their creditors. If your credit... View More

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