Hammond & Hammond, P.C.

Consumer Bankruptcy

Chapter 7 Archives

Can I discharge tax debt through bankruptcy?

Do you owe a considerable amount in taxes? If so, you may be wondering if you can discharge your tax debt through bankruptcy. If you qualify for Chapter 7 bankruptcy, you may be able to eliminate some of the taxes you owe through the process. However, you need to understand what type of tax debt you can discharge under Chapter 7 protection.

Yes, you can attempt to discharge your student loan debt in bankruptcy

The statistics would make Albert Einstein apoplectic. Over 43.3 million Americans currently have some amount of student loan debt. The amount of that debt is quickly approaching $1.39 trillion. And according to the Wall Street Journal, about 43 percent of student loan borrowers are either behind on their debt or not making payments.

Worried about losing your home? It may not happen in Chapter 7

Most people make an effort to manage their debt by making regular, on-time payments. But as you know, the sudden loss of a job or an unexpected injury or serious illness can wreak havoc on these carefully laid plans. What was once a manageable situation may quickly grow out of control, leaving you worried about your financial future and your family home.

Which is better: Chapter 7 or Chapter 13?

If you are experiencing financial problems, such as overwhelming debt from credit cards or medical bills, you may have already looked at bankruptcy as a way to get immediate relief and begin to put your financial issues in the rear-view mirror. However, when you are at the point where you are ready to contact an attorney to discuss a bankruptcy filing, you'll come across variations in the bankruptcy law that you might not have considered.

Are more people in Georgia filing for bankruptcy?

The decision to file for bankruptcy is not one that is taken lightly by anyone who has faced it. While the benefits -- such as debt relief and a stay on foreclosure proceedings -- can be felt immediately, a bankruptcy filing can represent a substantial shift in one's spending habits and lifestyle.