Madison County GA Bankruptcy attorneys - Bankruptcy and medical bills

Madison County GA Bankruptcy attorneys - Bankruptcy and medical bills

Medical bills in Madison County GA

Filing bankruptcy due to heavy medical bills happens very often. In fact, medical expenses are one of the main reasons why people file bankruptcy. If you or a loved one have ever been hospitalized or suffered from a long term illness, you probably are aware of the huge costs of healthcare. If you dont have medical insurance or are underinsured, the financial stress can definitely challenge your finances. Medical debt from a temporary illness or debt due to chronic health issues bring many individuals to the edge of economic downfall. Even in situations with the best medical insurance available, taking time off of job and loss of earnings will adversely affect a persons finances. When you or a loved one have suffered from an sickness, which has left you with medical debt, doctor debt, hospital expenses, or any other type of medical related expenses, you may consider dealing with those bills in bankruptcy. Based on on whether you file a Chapter 7 bankruptcy or Chapter 13 bankruptcy, medical bills may either eliminated or reduced signifigantly.

---------------------
Athens Georgia bankruptcy lawyer | Bankruptcy attorneys in Athens GA and Athens-Clarke County - Filing for Chapter 7 Bankruptcy and Chapter 13 Bankruptcy

Athens GA Bankruptcy attorneys - Bankruptcy and medical debt

Athens GA Bankruptcy attorneys - Bankruptcy and medical debt

Medical expenses in Oconee County Georgia

If you have huge medical debt, filing a Chapter 7 Bankruptcy can discharge your medical bills completely. If the bankruptcy means test says you qualify to file for Chapter 7, it will allow you to discharge medical expenses, hospital charges, doctor bills, medical collections, dental debt, and also most type of medical debt. Medical bills are treated as unsecured debts, and will be considered in bankruptcy similar to credit cards. Hence, medical bills can be totally eliminated in a Chapter 7 Bankruptcy.

In situations where the bankruptcy means test says that you cannot file for Chapter 7 Bankruptcy, you can instead opt to file for Chapter 13 Bankruptcy. A Chapter 13 Bankruptcy is a court supervised payment plan which will permit you to retain your most important assets while paying off the debts over time. If you file for Chapter 13 Bankruptcy you may be able to substantially reduce your medical debt. Chapter 13 will permit you to repay your medical expenses over a 3 to 5 year period of time depending on your disposable income. Quite often, Chapter 13 Bankruptcy comples unsecured creditors like medical providers, hospitals, and doctors to accept pennies on the dollar.

---------------------
Athens Georgia bankruptcy lawyer | Bankruptcy attorneys in Athens GA and Athens-Clarke County - Filing for Chapter 7 Bankruptcy and Chapter 13 Bankruptcy

Madison County Georgia Filing Bankruptcy lawyers

Madison County Georgia Filing Bankruptcy lawyers

Documents for filing bankruptcy in Madison County GA

The documentation necessary when filing for bankruptcy has increased. For example, the debtor should provide additional information that details all income and expenses. If the expenses are more than the IRS allowance, a special circumstances document must be submitted which details the necessity of the additional expense incurred. A statement of accuracy must also be submitted, together with these special circumstance documents.

The attorneys job is further multiplied, and a lot of responsibility for ensuring checks is put on the attorney. The attorneys signature certifies that the petition has been properly inspected, and the proceeding is not an abuse of the bankruptcy process. The lawyer should also confirm that the proceeding is acceptable under the existing rules or that it is a good faith argument for the extension/modification of the current law. If there is a violation, the lawyer fees and the debtor cost will be assessed and made payable to the trustee.

---------------------
Athens Georgia bankruptcy lawyer | Bankruptcy attorneys in Athens GA and Athens-Clarke County - Filing for Chapter 7 Bankruptcy and Chapter 13 Bankruptcy

Athens Georgia Bankruptcy lawyers - Bankruptcy and credit cards

Athens Georgia Bankruptcy lawyers - Bankruptcy and credit cards

Bankruptcy and credit in Athens GA

Never rush in your choice of a lawyer. Check if the attorney makes you comfortable and is considerate towards your problem. Find out whether the lawyer and staff are organized, punctual and work well as a team. Finally, you should also make sure that matters about fees and payment are settled.

You first meeting with your bankruptcy lawyer is usually free. At the first meeting, you must honestly explain your situation to the lawyer and try to determine if you are comfortable with the attorney and their staff. At the same time the attorney will provide you with feedback on your situation and your options available.

When conversing with the lawyer, check how long he or she has been in practice, what the specifics of their specialization are, approximately how many cases they have handled and what your expectations should be from the lawyer in terms of representation. Also check whether the lawyer will be personally appearing in your case and that it will not be passed on to a junior attorney or paralegal. Ask as many questions as you need and ensure that you are comfortable with the fact that you are appointing him as your bankruptcy lawyer.

---------------------
Athens Georgia bankruptcy lawyer | Bankruptcy attorneys in Athens GA and Athens-Clarke County - Filing for Chapter 7 Bankruptcy and Chapter 13 Bankruptcy

Athens Georgia Bankruptcy attorneys - Bankruptcy myths

Athens Georgia Bankruptcy attorneys - Bankruptcy myths

Bankruptcy myths in Athens Georgia

EMPLOYERS WONT EMPLOY YOU AND YOU WONT BE ABLE TO RENT A HOME IF YOU FILE BANKRUPTCY

This is not true. Employers do not like to have workers that will be distracted by creditors and their collection tactics at the office or at home, as then the worker is unfocused and anxious about their financial situation. Neither does the employer want to deal with the extra accounting due to wage executions. Furthermore, landlords prefer tenants who can utilize their salary to pay rent, not those paying creditors instead.

BEFORE FILING, YOU MIGHT AS WELL USE YOUR CREDIT CARDS TO THE MAXIMUM.

This is again incorrect. Any large purchases above $550 for luxury goods purchased within 90 days prior to filing and cash advances of $825 within 70 days prior to filing cannot be discharged. This type of activity could result in criminal charges against you. Bankruptcy is not for deceiving creditors and instead for the debtor who is trying to get a fresh start.

YOU SHOULD DO ALL THAT YOU CAN TO NOT FILE BANKRUPTCY; INCLUDING CASHING IN 401K ACCOUNTS

Once again, this is false. Retirement accounts are one of the exemptions, meaning they are untouched in bankruptcy. If you decide to draw upon your retirement funds prematurely to pay creditors, there will be taxes and penalties on those retirement withdrawals, by the IRS, if not repaid. You should consult with a bankruptcy lawyer to see what assets of yours will be exempt in a bankruptcy filing.

---------------------
Athens Georgia bankruptcy lawyer | Bankruptcy attorneys in Athens GA and Athens-Clarke County - Filing for Chapter 7 Bankruptcy and Chapter 13 Bankruptcy

Athens-Clarke County Georgia Chapter 7 bankruptcy attorney

Athens-Clarke County Georgia Chapter 7 bankruptcy attorney

Conversion of chapter 11 to chapter 7 in Oconee County Georgia
The chapter 11 debtor has a one-time absolute right to convert the chapter 11 case to a proceeding under chapter 7 except if (1) the debtor is not a debtor in possession, (2) the case initially was started as an involuntary proceeding under chapter 11, or (3) the proceeding was converted to a proceeding under chapter 11 other than at the debtors request. A debtor in a chapter 11 case does not have an absolute right to have the case dismissed upon request.

on the request of a party in interest in the proceeding or the US trustee, upon notice and hearing and "for cause," the court will convert a chapter 11 proceeding to a proceeding under chapter 7 or dismiss the proceeding, for the best interest of creditors and the estate. The court will convert or dismiss a proceeding "for cause" when there is a continuing loss to the estates, an inability to effectuate a plan, unreasonable delay that is prejudicial to creditors, denial or revocation of confirmation, or inability to work out an approved plan.

There are major exceptions to the conversion process in a chapter 11 case. Unless the debtor requests the conversion, section 1112(c) of the US Bankruptcy Code does not permit the court to convert a proceeding involving a farmer or charitable institution to a liquidation proceeding under chapter 7.


---------------------
Athens Georgia bankruptcy lawyer | Bankruptcy attorneys in Athens GA and Athens-Clarke County - Filing for Chapter 7 Bankruptcy and Chapter 13 Bankruptcy

Athens GA Responsibilities of debtor in possession lawyer

Athens GA Responsibilities of debtor in possession lawyer

Responsibilities of bankruptcy debtor in possession in Athens-Clarke County Georgia

The United States trustee fixes some requirements on the debtor in possession about matters like reporting its monthly income and operating expenses, the opening of new bank accounts, and the payment of existing employee withholding and other taxes. Under law, the debtor in possession has to pay a quarterly fee to the United States trustee for each quarter of a year until a plan is approved or the case is converted or dismissed. The amount of the fee, which can vary from $250 to $5,000, depends upon the amount of disbursements in each quarter. When a debtor in possession fails to comply with the reporting requirements of the United States trustee or orders of the bankruptcy judge or fails to take the appropriate steps to bring the case to confirmation, the US trustee can file an application with the court to have the debtors chapter 11 case converted to a proceeding under another chapter of the Federal Bankruptcy Code or to have the case dismissed.

---------------------
Athens Georgia bankruptcy lawyer | Bankruptcy attorneys in Athens GA and Athens-Clarke County - Filing for Chapter 7 Bankruptcy and Chapter 13 Bankruptcy