Transcript: Hello, this is Jeff Kelly and tonight I’m going to talk to you about chapter 7. What is it? And how in the world can it help you? Many people like to refer to chapter 7 as the Fresh Start provision of the bankruptcy code, because it basically allows you to wipe out all of your debt and get a fresh start. And a chapter 7, what we do is we want to show the court that you were unable, based on your budget to pay the debt that currently hangs over you. Approximately 90 days after we file your chapter 7, you’re going to be granted a discharge, which means that you’re no longer liable for that debt. Usually, one of the first questions I get is how much is this going to cost and the total charge for filing a chapter 13 in my office right now is 1400 dollars. This cost includes your filing fee, the attorney’s fees, but in both your classes that are required by the bankruptcy code. Well, chapter 7 may be simple in theory, there’s a lot of different factors to consider. For example, not every kind of debt can be discharged. And chapter 7 debts that arise from drunk driving, or you know, some type of intentional action, it’s not gonna get discharged student loans, child support, post petition homeowners associations, fees post petition ...
Transcript: Hello, this is Georgia bankruptcy attorney, Jeff Kelly and this evening I am going to talk about a motion for relief. Okay, if you are in an active chapter 13 case, and you receive a motion for relief, as a general rule, this is not a good thing. Let me tell you why. Let’s say you are in a chapter 13 and you are making payments on your house, but you know, hours get cut back at work, maybe some type of emergency pops up out of nowhere and you miss a few payments. Well, the creditor is going to respond by filing a motion for relief. Basically, a motion for relief from the automatic stay is a request from a creditor to the bankruptcy court for permission to take back collateral. In other words, if the creditor has rights to your house, they want permission to get out of bankruptcy court and start foreclosure. proceedings. Oftentimes we’ll have a client, they’ll come in and they say, Well, you know, I’m not sure I buy all this stuff about how chapter 13 protects you because I had a friend who filed, but they still lost their house. How does that happen? Well, here’s how it happens. Somebody files chapter 13. They put the IRS in the plan, and all they have to do is make the future mortgage payments. But like I said earlier, sometimes things happen. And when you miss ...
Hello, this is Jeff Kelly, and today is June 25th, 2020. And the title of today’s podcast is Don’t Let Yourself Get Smacked by the Tidal Wave. It is no secret that a tidal wave of vanquishes are coming down the pipe soon. Over 40 million Americans have lost their jobs due through no fault of their own because of this blasted, COVID 19 government four shutdown of our economy. What’s going to drive this tidal wave of bankruptcies is going to be a tidal wave of creditor lawsuits. So for almost five months, creditors in Georgia have not been able to get orders on the collection lawsuits they filed. And the deadline has been extended and been extended. And currently it’s going to be extended until about mid July. And this lack of enforcement has created a false sense of security for a lot of people. I, I bet there’s tons of consumers who have just completely forgotten about the lawsuit with all the strange stuff that’s been going on in the world. This is probably not top of mind and this false sense of security is about to get blown away. Once courts are allowed to operate at full capacity in mid July. So along with the tidal wave, a predictable nightmare is coming for many consumers in Georgia after the courts reopen. Some person is going to get their wages garnished out of the blue. They are going to see twenty five percent of their paycheck disappear. So what does this look like in real life? Someone who is expecting to see 500 hours in their paycheck is only going to get about three seventy five. Someone who ...
