Bankruptcy is something most people do not take lightly, and if you have a good credit score, it’s likely that you have been diligent with your money in the past. In some cases, unforeseen circumstances, like a major medical event, can force people with good credit scores to consider bankruptcy.Bankruptcy-Credit Score

Bankruptcies can affect access to new credit cards, car and home loans, and potentially hurt job opportunities. They can also be very tough to deal with emotionally. Despite that, over a million people file for bankruptcy on average every year. Bankruptcies can remain on your credit report for up to 10 years and can knock hundreds of points off your credit score. However, there are steps you can take to boost your credit score and improve it to the point you qualify for loans again, even before the bankruptcy drops off your credit report.

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You may have found yourself in over your heads with credit card debts, medical debts, or other debts. You may feel that you can no longer keep up with the minimum payments; and bankruptcy is truly your only option.

Once you decide that bankruptcy is the path for you, there are a number of steps you must take. First, you must decide which type of bankruptcy fits your situation. Most people file either a Chapter 7 or a Chapter 13. Chapter 7 allows most of your debts to be cancelled, while a Chapter 13 requires that payments be made on a payment plan. Both a Chapter 7 and a Chapter 13 have specific requirements, as well as limitations.What Should I do. Bankruptcy

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When you visit a business of the home of a friend or family member, you expect that the property will be maintained enough to prevent the odds that you will have a slip and fall accident. If you have been injured in a slip, trip, or fall accident on someone else’s property, you may be entitled to compensation for the cost of your medical treatment. You must prove that the property owner was negligent and did not the take the proper steps to provide a safe environment for guests.Slip and Fall

Some examples of negligent behavior by a property owner include not attempting to maintain the premises, such as by failing to repair uneven steps and failing to warn about the uneven steps or take other appropriate actions. It’s common for a property owner to attempt to cover up the scene of an accident in order to avoid responsibility. Therefore, if you have had an accident on another person’s property, you should take pictures of the scene immediately after the accident so that it cannot be tampered with later. You should also seek emergency medical treatment. If there are witnesses around, you should obtain their contact information. Finally, you should report the accident to the property owner before you leave the scene.

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moneyDue to the recent economic recession, many Georgia residents have decided to file for bankruptcy in order to get out from under their household debts.  Among other requirements, when you file for bankruptcy (either a Chapter 13 or a Chapter 7 case), you must take a credit counseling course and a debtor education course.  These courses are mandatory and must be completed in order for the bankruptcy to be ultimately approved by the judge.

The point of the debtor education and credit counseling courses is to help ensure that you do not find yourself in a similarly difficult financial situation in the future.

How to Fulfill the Credit Counseling Requirement

It is relatively easy to complete the credit counseling course, but there are a few important deadlines that you must keep in mind.  Specifically, you must complete the course during the 180-day timeframe immediately preceding the date that you file the bankruptcy case with the bankruptcy court.

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Speeding Tractor TrailorSpeeding on the roads can greatly increase the potential of an accident. If a tractor trailer, 18-wheeler, semi-truck or another large commercial vehicle is driving at dangerous speeds on the freeways and highways of Atlanta, a serious accident can occur. The huge weight of a large speeding truck can greatly shorten the time that the trucker has to react to stop the very heavy vehicle in time. Truckers must drive at or below the speed limit because of the extra braking distance required with the extra weight that trucks carry.

Truck drivers frequently get paid by the load or by the mile. Because of that, truckers have an incentive to engage in aggressive driving tactics, including exceeding the posted speed limit. Studies show that driver error and excessive speeding cause the vast majority of trucking accidents. Even though truck drivers are under strict regulations, they are frequently ignored in an effort to make more money.

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Yes, some of your property is exempt from bankruptcy in Georgia. Exemptions are laws that protect your assets from creditors and the bankruptcy trustee. In addition to Georgia’s bankruptcy exemptions, there are federal exemptions that are established under federal law. However, in Georgia, if you file bankruptcy, you must use the Georgia state exemptions. In addition, if you and your spouse file joint bankruptcy, you can double your exemption amounts, but you can only claim an exemption for property that belongs to you.Confused

Some of the most commonly used Georgia bankruptcy exemptions include: Continue reading

Many of our Georgian friends and neighbors have turned to bankruptcy as a solution to alleviating their mounting debt and constant financial instability.  For households, there are two types of bankruptcy petitions available:  Chapter 13 or Chapter 7.  When most people think of bankruptcy, they think of Chapter 7 because at the conclusion of the case, the person’s qualifying debt is completely wiped away (i.e., discharged).cutting costs

However, not everyone can qualify to file a Chapter 7 case, and in some situations, it is better for your family if you file a Chapter 13 case.  A Chapter 13 case may be a good option for Georgians who are able to pay a portion of their debt – just not all of it.  In order to pay off the debt they can, these debtors collaborate with the bankruptcy trustee and present a Chapter 13 payment plan to the bankruptcy court for the judge to approve.  This plan, which normally is set for a three- or five-year period, allocates a certain amount of the person’s income to paying off his or her debts as much as possible.  After the plan period ends, the bankruptcy court discharges the balances on the debts.

In most cases, the Chapter 13 case will only end when the payment plan ends.  However, there are special circumstances that may allow a debtor to end their plan prematurely and qualify for a “hardship discharge” from the bankruptcy court.

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Typically, when a passenger automobile is involved in an accident with a tractor trailer, semi-truck, or other commercial vehicle, very serious injuries or death is the result. The weight of the truck and the speeds at which they drive can cause the truck to roll over in an accident, crushing other vehicles. In some cases, the driver may be negligent and the accident can be catastrophic, resulting in multiple deaths.Tractor Trailor-death

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There are a number of things you can and should do before filing for bankruptcy, but running up your credit cards is not one of them. Generally, you can discharge credit card debt in bankruptcy, whether it is $1,000 or $100,000. However, if you rack up debt with fraudulent intent, it will not be discharged in bankruptcy, and you may be considered to have committed fraud.Debt Free life

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bankruptcy questionsIf you have made the difficult decision to file for bankruptcy, it is likely that you are utilizing this process as a mechanism to help your family and you overcome financial hurdles such as large amounts of credit card debt or medical bills.

The bankruptcy process can be overwhelming, confusing, and scary if you do not have a skilled bankruptcy attorney walking you through the process.  Filing a bankruptcy case requires more than just filling out paperwork.  In addition to the paperwork, you may also be required to complete a credit counseling course, attend a section 341 meeting of creditors, or undergo a 2004 bankruptcy examination.

Read on to learn more about this examination and how it may affect your bankruptcy case.

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