April 23, 2013 (Press-News.org) While it might be true that Georgia residents are starting to see a bit of improvement in the area of job growth, many are still facing financial struggles. According to The Atlanta Journal-Constitution, Georgia's overall bankruptcy filings have dropped 15 percent; however, the state still holds the number two spot nationwide for filings.
The article credits low interest rates, a dip in consumer credit debt and job growth with lowering the state filing numbers; yet, the lower numbers do not mean much to those who are currently facing wage garnishments, foreclosure of their homes or repossession of their vehicles. They may be trying to determine whether or not bankruptcy is the best option for them, and if so, what type of bankruptcy filing will best suit their needs.
How bankruptcy works
In general, there are two kinds of debts: unsecured and secured. Unsecured debts are those that are not secured by or attached to any type of guarantee or collateral, such as medical bills and credit card debts. Secured debts are those that have some sort of collateral securing the debt, such as in the case of a home or an automobile.
Filing for bankruptcy can help protect an individual's property and wages from creditor seizures and other actions. Depending on the bankruptcy chapter selected, a person can have certain debts completely eliminated or they might be given the opportunity to repay them over a certain number of years.
Types of bankruptcy
There are several types of bankruptcy filings that both individuals and businesses can utilize for help with getting their finances in order. For consumers, there are two primary types of bankruptcy: Chapter 7 and Chapter 13. Chapter 7 bankruptcy filings are a common choice for those seeking to eliminate most, if not all, of their unsecured debts by liquidating any non-exempt property in order to pay off the debts owed.
A Chapter 13 filing is an option for those who have regular income to make payments under a repayment plan that will be approved by the bankruptcy court. A Chapter 13 filing can permit individuals to:
- Keep their property
- Stop foreclosure on their homes, in most cases
- Catch up on payments that have been missed
Chapter 13 reorganizes debts so that individuals no longer have to struggle on a monthly basis. Depending on the situation, repayments plans can last anywhere from three to five years.
Those who are worried about losing their home or car, or those who have a pile of credit card debt might want to consider speaking with a personal bankruptcy attorney who can discuss the options that might be best suited to solving their financial problems.
Article provided by George R. Belche, Attorney at Law, LLC
Visit us at www.bankruptcygwinnett.com
Georgia bankruptcies are down, but many still feel the pinch
Georgia's bankruptcy filings may be down, but the state is still ranked number two nationwide for filings. Residents should keep in mind that they have options as they struggle to make ends meet.
2013-04-23
ELSE PRESS RELEASES FROM THIS DATE:
Heroin found on Oregon man leads to additional weapons charges
2013-04-23
Police recently seized several weapons from a Portland home after allegedly finding heroin on one of the residents. The search and seizure resulted in the arrest of two individuals on multiple drug and weapons charges.
Police report finding "arsenal" of weapons in man's Portland area home
Police began investigating two individuals approximately a month ago, after learning they might be involved with heroin. One of the individuals, a 30-year-old male, was allegedly carrying an ounce of heroin on him and a handgun when he was confronted by police.
Police ...
Driver fatigue a leading cause of car crashes
2013-04-23
In recent years, distracted driving has received a great deal of attention from both lawmakers and safety experts as a serious threat on our nation's roadways. Although distracted driving is certainly a problem, a new study indicates that driver fatigue, though often overlooked, is a common factor in serious car accidents.
According to the results of a study released recently by the Virginia Tech Transportation Institute, fatigue is the cause of approximately 20 percent of all car accidents in the U.S. These findings are surprising because previous studies - based on ...
Houston Native Sammy Ford IV Of Abraham, Watkins, Nichols, Sorrels, Agosto & Friend Was Recognized On The 2013 Texas Rising Star Listing
2013-04-23
The Houston, Texas personal injury firm of Abraham, Watkins, Nichols, Sorrels, Agosto & Friend is proud to announce the selection of attorney Sammy Ford IV to the 2013 listing of Texas Rising Stars as published in Super Lawyers Magazine. No more than 2.5 percent of Texas lawyers under 40 or who have been in practice for 10 years or less are selected by the research team at Super Lawyers to receive the honor of being named to the Rising Stars listing.
Mr. Ford is a native Houstonian and a 2004 graduate of the Harvard College. After completing his legal education ...
Norcross Dental Experts, Norcross Dental, Announce Partnership with Cardinal Web Solutions
2013-04-23
In order for Norcross Dental to grow and better serve their clients, they are announcing their partnership with Cardinal Web Solutions. This collaboration will provide Norcross Dental with a dynamic online presence, providing better tools and education concerning their patients' dental care[/url].
Norcross Dental Online
Communication has always been essential at Norcross Dental. Not only do they feel that it is important for patients to listen to their dentists concerning their dental care, but they also know that it is vital for dentists to listen to their patients. ...
Lawrenceville Dentist Pros, Lawrenceville Dental, Announce Partnership with Cardinal Web Solutions
2013-04-23
Lawrenceville Dental Associates, a group of dentists in Lawrenceville, Ga., is pleased to announce its partnership with Internet marketing firm, Cardinal Web Solutions.
Cardinal Web Solutions will provide Lawrenceville Dental Associates with customized search engine optimization (SEO). The goal of SEO is to increase a Web site's ranking with popular online search engines. This practice is particularly useful for Web sites that are looking to improve their online customer conversion rates.
Lawrenceville Dental Associates hopes that by improving its site's SEO value, ...
Do Performance Reviews Really Matter?
2013-04-23
Few things inspire as much apprehension in the workplace as a looming performance review. No matter how diligent and competent we may be, most of us are still at least somewhat nervous as we enter our annual or semi-annual review. We desire to not only meet but exceed the expectations that our employers place on us because these benchmarks typically determine who will receive raises, promotions, or even whether or not we will remain employed with that business.
Atlanta staffing agency professionals at TRC Staffing Services, Inc. explain that this fear response could ...
Grammy-Winning Composer Yalil Guerra Celebrates 30 Years of Music with Free Concert in Los Angeles
2013-04-23
Award-winning Cuban composer and guitarist Yalil Guerra will be celebrating 30 years in the music industry on Saturday April 27, 2013, 7:00 p.m. at The Glendale Public Library. The show will be a free concert as an acknowledgment to a community that has adopted him after arriving in the U.S. from Cuba via Spain. www.rycy.com.
Mr. Guerra received the Latin Grammy in 2012 for Best Contemporary Classical Composition. He is also known as the youngest Cuban musician ever to win an international competition. His music has been played by the Santa Cecilia Orchestra, Corpus ...
Avant Assessment Announces Jon Bower, Chief Executive Officer
2013-04-23
Avant Assessment is pleased to announce the appointment of Jon Bower as Chief Executive Officer. In addition to a track record of corporate growth, Mr. Bower brings more than 30 years of experience in education research and design with a focus on improving outcomes through personalized learning.
Mr. Bower first became engaged in education reform in the Stanford International Development Education program. Bower went on to complete an MBA at Harvard Business School with a focus on operations management and entrepreneurship, after which he spent 12 years in various high ...
Sound Physicians Enters Agreement to Provide Hospitalist Services at San Joaquin Community Hospital
2013-04-23
Sound Physicians, a leading hospitalist organization focused on driving improvements in quality, satisfaction and financial performance of inpatient healthcare delivery, announced today an agreement to provide hospitalist services at San Joaquin Community Hospital in Bakersfield, Calif.
Sound Physicians will provide comprehensive hospitalist services to the 254-bed hospital, which is the second Adventist Health hospital in California with which Sound Physicians has partnered. Adventist Health operates more than 19 hospitals throughout California, Hawaii, Oregon and Washington, ...
Bruegger's Bagels Celebrates 30 Years with Three Free Bagel Day
2013-04-23
Bruegger's Bagels, known for its authentic New York-style bagels baked fresh all day, is celebrating its 30th year with Three Free Bagel Day as a thank-you to its loyal guests and as a fundraiser for Children's Miracle Network Hospitals, which also turns 30 this year.
On Thursday, April 25, from open until 2 p.m., guests can visit any participating Bruegger's Bagels bakery, present a coupon and receive three free bagels of their choice. In return, guests are encouraged to donate to their local Children's Miracle Network hospital and help kids and families in need.
"The ...
LAST 30 PRESS RELEASES:
New deep-learning tool can tell if your salmon is wild or farmed
If you're over 60 and playing with sex toys, you're not alone
Fame itself may be critical factor in shortening singers’ lives
Daily coffee drinking may slow biological ageing of people with major mental illness
New highly efficient material turns motion into power – without toxic lead
The DEVILS in the details: New research reveals how the cosmic landscape impacts the galaxy lifecycle
After nearly 100 years, scientists may have detected dark matter
Gender imbalance hinders equitable environmental governance, say UN scientists
Six University of Tennessee faculty among world’s most highly cited researchers
A type of immune cell could hold a key to preventing scar tissue buildup in wounds
Mountains as water towers: New research highlights warming differences between high and low elevations
University of Tennessee secures $1 million NSF grant to build semiconductor workforce pipeline
Biochar shows powerful potential to build cleaner and more sustainable cities worldwide
UT Health San Antonio leads $4 million study on glucagon hormone’s role in diabetes, obesity
65-year-old framework challenged by modern research
AI tool helps visually impaired users ‘feel’ where objects are in real time
Collaborating minds think alike, processing information in similar ways in a shared task
Routine first trimester ultrasounds lead to earlier detection of fetal anomalies
Royal recognition for university’s dementia work
It’s a bird, it’s a drone, it’s both: AI tech monitors turkey behavior
Bormioli Luigi renews LionGlass deal with Penn State after successful trial run
Are developers prepared to control super-intelligent AI?
A step toward practical photonic quantum neural networks
Study identifies target for disease hyper progression after immunotherapy in kidney cancer
Concordia researchers identify key marker linking coronary artery disease to cognitive decline
HER2-targeted therapy shows promising results in rare bile duct cancers
Metabolic roots of memory loss
Clinical outcomes and in-hospital mortality rate following heart valve replacements at a tertiary-care hospital
Too sick to socialize: How the brain and immune system promote staying in bed
Seal milk more refined than breast milk
[Press-News.org] Georgia bankruptcies are down, but many still feel the pinchGeorgia's bankruptcy filings may be down, but the state is still ranked number two nationwide for filings. Residents should keep in mind that they have options as they struggle to make ends meet.