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 has a few thousand dollars in their checking account could potentially see it all disappear depending on the amount of the debt.
What’s this going to lead to?
Rent payments won’t be able to get made. Mortgage payments will not be able to get made. Car payments will not be able to get made. Financial disaster. And I imagine that many people are going to procrastinate and they’re going to be calling us in late July. And I hope this doesn’t happen, but it is possible that they may hear these awful words. I’m so sorry. We’re fully booked out. And I imagine you’re going to hear people say, look, I’m desperate.
Your five months of collection lawsuits are going to hit all at once. We’re not going to be able to help everybody. And I doubt I think there’s gonna be a major shortage of bankruptcy attorneys for the first couple of months. So don’t wait until after the nightmare hits, the tidal wave hits. You know who you are.
You know, if you’re in financial trouble, you know, if you’ve got stuff hanging over your head. Take care of business. Call me today. It is a free consultation. 770-881-8449. Let’s get the ball rolling before everything hit you. Don’t wait until afterwards. It could really compound your headache. So almost every bankruptcy firm that I know of has has been forced to lay off at least half their staff.
So, I mean, not only is there going to be this big, huge tidal wave of collection losses coming, but most bankruptcy firms are downsized and they’re going to stay downsized until things start coming back. Most firms are either going to be in pay off the debt or, you know, replenish the savings mode. There’s not going to be a huge amount of capacity. So it’s just going to compound the problem. So, again, call me today.
It doesn’t cost you anything to explore your options. It takes time to get properly ready for a bankruptcy case. We need to review your paycheck stub. We need to look at your assets. We’re going to tell you if bankruptcy is not a right fit for you.
For some people, it may not be. But we need time to evaluate. So, again, take action. Don’t wait. You know, you are. You need to call me. 770-881-8449. Thank you.
Welcome to the first radio show with Jeff Kelly featuring guest Patrick Matson. Today we debunk the fears surrounding bankruptcy and ensuring that your bankruptcy experience is one that goes smoothly. ...
Hello, this is Jeff Kelly. And in this podcast today, I’m going to talk about what happens to your credit score after bankruptcy. Am I doomed? For many years. What does my future look like? Will I ever be able to buy a new car at a decent interest rate? Will I ever be able to buy that house that I’ve always dreamed of? Is my financial future ruined forever as a bankruptcy attorney who has practiced in this area since 1998? I have heard questions like these hundreds of times. And the answer might shock you. The answer is this. Most people do recover within about two years, one to two years of filing Chapter 7 bankruptcy. How can that possibly be? You may say, well, first of all, usually by the time the clients come meet with me, the damage has already been done. Most potential clients have stopped paying credit cards. Many months ago, had cars repossessed. Been sued by creditors. Had wages garnished or had their house foreclosed. Any of these will put a major hit to your credit rating. For most people considering bankruptcy, like I said, the damage is already there. So the question is, what do we want to do going forward? Do you ever get a knot in your stomach when you think about your credit score? David, just feel sick to your stomach thinking about all that debt and the interest and late fees and just mess that’s hanging over you and it’s not going anywhere. Well, Chapter 7 might help make that pain ...
Hello, this is Jeff Kelly and Today is June the 15th 2020. And today I want to talk about how to protect yourself from theft in a chapter 13 with NDC.org. Every active chapter 13 debtor should open an account with NDC.org, the cost is free, but the information you see could be worth a lot of money and save you from theft. Having an account with NDC.org will allow you to see every single proof of claim that has been filed in your bankruptcy case and it will also allow you to verify that your chapter 13 payments are being received by the trustee. Years ago I had a client whose employer took money from her paycheck, but never sent it into the trustee. We caught the error and had to sue the employer to get the money paid. Having an account with NDC.org allows you to catch stuff like this. Proof of claim is a form signed under oath, with supporting documentation that a creditor must file in a bankruptcy case in order to get paid. The proof of claim will tell the trustee the type of claim and the amount owed. If a creditor fails to file before the deadline in your case, they won’t get paid anything. For example, let’s say you had a car repossessed a few years ago, and owe the car creditor $10,000. If they fail to file a proof of claim on time, you will not have to pay that $10,000. Let’s change up the facts ...