• Uncategorized

    Posted on February 6th, 2010

    Written by admin

    Related Posts

    Bankruptcy and Tax in Bibb County, GA

    Bankruptcy and Tax in Bibb County, GA

    When you are an individual debtor in Bibb County, GA filing for bankruptcy under chapter 7 or 11 of the Federal Bankruptcy Code in , a separate ‘‘estate’’ is established consisting of property which belonged to you prior to the date of filing. This bankruptcy estate will be a new taxable entity, completely independent from you as an individual taxpayer.

    There is no penalty for failure to pay tax, including failure to pay estimated tax, will not be imposed for any period during which a title 11 bankruptcy case is pending provided:
    1. The tax was incurred before the earlier of the order for relief or (in an involuntary case) the appointment of a trustee, and
    2. The bankruptcy petition was filed before the due date for the tax return (including extensions) or the date for imposing the penalty occurs on or after the day the bankruptcy petition was filed.

    This relief from the failure-to-pay penalty does not apply to any penalty for failure to pay or deposit tax withheld or collected from others and required to be paid over to the United States government. It does not apply to any penalty for failure to timely file a return.

    ———————
    Macon Georgia bankruptcy lawyer | Bankruptcy attorneys in Macon GA and Warner Robins – Filing for Chapter 7 Bankruptcy and Chapter 13 Bankruptcy in Macon GA

    http://www.macongabankruptcy.com

  • Uncategorized

    Posted on February 5th, 2010

    Written by admin

    Related Posts

    Bibb County, GA Chapter 11 and 13

    Bibb County, GA Chapter 11 and 13

    Chapter 11 bankruptcy in Bibb County, GA allows a debtor to enter into an agreement with creditors under which all or a part of the business continues. The debts of the business are restructured to allow the debtor to continue the business operation. In general any partnership, corporation or limited liability entity except a governmental unit may be a debtor in a Chapter 11 proceeding. Under Chapter 11, only the debtor can submit a plan of reorganization within 120 days of the filing of the bankruptcy case. Under a typical reorganization agreement, the debtor will restructure his debts. Such a plan will generally provide for the repayment of loans secured by real estate to be paid over an extended period of time. Intermediate term loans are generally proposed to be paid over the remaining useful life of the security, which is typically five to ten years.

    Chapter 13 bankruptcy filing in Bibb County, GA allows the individual debtor to pay down his debts, either the entire amount or a part of it, under a payment plan under the supervision of the court. Those who file under this chapter can keep their possessions with them while they stick to the plan or after they have paid off the required portion of debt. This chapter involves the rehabilitation of the debtor to let the debtor to use future earnings to pay off debts.

    A chapter 13 bankruptcy is also referred to as a wage earner’s plan. Under this chapter, debtors propose a repayment plan to make installments to creditors over three to five years. Chapter 13 is especially for individuals with regular income who want to clear their debts but cannot to do so in a timely method. The purpose of Chapter 13 is to enable financially distressed individual debtors to design and work out a repayment plan under which creditors are paid over an extended period of time generally three to five years. The creditors are forbidden from starting or continuing collection efforts during this time.

    ———————
    Macon Georgia bankruptcy lawyer | Bankruptcy attorneys in Macon GA and Warner Robins – Filing for Chapter 7 Bankruptcy and Chapter 13 Bankruptcy in Macon GA

    http://www.macongabankruptcy.com

  • Uncategorized

    Posted on February 4th, 2010

    Written by admin

    Related Posts

    Bibb County, GA Chapter 11

    Bibb County, GA Chapter 11

    Federal bankruptcy laws govern how companies go out of business or recover from deep financial crisis. A bankrupt corporation can use Chapter 11 of the Federal Bankruptcy Code to reorganize its business and attempt to become profitable again. Management continues to run the day-to-day business operations, but all significant business decisions have to be approved by a bankruptcy court.

    If the debtor owns a business or corporation n Bibb County, GA Chapter 11 is a reorganization proceeding that should be considered. There are special circumstances you must meet. Some individuals whose debts are more than the limits of Chapter 13 can file Chapter 11. In Chapter 11, the debtor usually remains in possession of assets and continues to operate any business, subject to the oversight of the court and the creditors committee. You propose a plan of reorganization to the creditors, who vote on it. If the majority accept it, the court will confirm the plan and it becomes binding on the debtor and the creditors. Plans can provide for repayment from future income or sales of some or all of the assets.

    In chapter 11 cases in Bibb County, GA the United States trustee, a federal employee, can not act as a case trustee, who is often a private individual. The US trustee is responsible for monitoring all chapter 11 proceedings and has authority to appear and be heard on any issue in any case, but can not submit a plan. The case trustee, on the other hand, is responsible for management of the assets of the estate, management of the debtor’s business, and, if necessary, the submission of a plan of reorganization. Section 1106 of the United States Code mandates the trustee to file a plan “as soon as practicable” or, alternatively, to submit a report detailing why a plan will not be filed or to recommend that the case be converted to another chapter or dismissed.

    ———————
    Macon Georgia bankruptcy lawyer | Bankruptcy attorneys in Macon GA and Warner Robins – Filing for Chapter 7 Bankruptcy and Chapter 13 Bankruptcy in Macon GA

    http://www.macongabankruptcy.com

  • Uncategorized

    Posted on February 3rd, 2010

    Written by admin

    Related Posts

    Medical Bills and Bankruptcy in Bibb County, GA

    Medical Bills and Bankruptcy in Bibb County, GA

    Medical bills from a temporary illness or bills because of chronic medical problems push many individuals to the edge of financial downfall in Bibb County, GA. Even in situations where people have the best medical insurance available, taking time off from work and loss of earnings can strain a person’s finances. If you have huge medical bills, 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 permit you to get rid of medical bills, hospital charges, doctor bills, medical collections, dental bills, as well as most type of medical debt. Medical bills are considered unsecured debts, and are treated in bankruptcy just like credit cards. As such, medical bills can be totally eliminated in a Chapter 7 Bankruptcy.

    Filing a bankruptcy case in Bibb County, GA prohibits creditors from taking action against the debtor. What prohibits creditors from acting is the automatic stay – an injunction issued by the court as soon as you file the case. The automatic stay remains in effect until the case is closed. On motion, and after a hearing before the bankruptcy judge, a creditor may get an order for relief from the stay. An order granting relief from the automatic stay allows a creditor to take certain specified actions, which will be spelled out in the order, to collect a debt against you.

    ———————
    Macon Georgia bankruptcy lawyer | Bankruptcy attorneys in Macon GA and Warner Robins – Filing for Chapter 7 Bankruptcy and Chapter 13 Bankruptcy in Macon GA

    http://www.macongabankruptcy.com

  • Uncategorized

    Posted on February 2nd, 2010

    Written by admin

    Related Posts

    Bibb County, GA Bankruptcy Lawyer

    Bibb County, GA Bankruptcy Lawyer

    The bankruptcy attorney’s job in Bibb County, GA is complex, and a lot of responsibility for ensuring checks is put on the lawyer. The attorney’s signature certifies that the petition has been reasonably inspected, and the proceeding does not abuse the bankruptcy process. The lawyer must also certify that the proceeding is acceptable under the existing law or that it is a good faith argument for the extension/modification of the current law. In case of a violation, the attorney fees and the debtor cost will be determined and made payable to the trustee.

    You initial consultation with your bankruptcy lawyer in Bibb County, GA is generally free. During the initial meeting, you must frankly explain your situation to the attorney and try to gauge if you are comfortable with the lawyer and their staff. At the same time the lawyer will provide you with feedback on your situation and your options available.

    When conversing with the lawyer in Bibb County, GAfind out 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 attending to your case and that it is not passed on to a junior attorney or staff. Ask as all questions as you need and ensure that you are comfortable with the fact that you are appointing him as your bankruptcy attorney.

    ———————
    Macon Georgia bankruptcy lawyer | Bankruptcy attorneys in Macon GA and Warner Robins – Filing for Chapter 7 Bankruptcy and Chapter 13 Bankruptcy in Macon GA

    http://www.macongabankruptcy.com

  • Uncategorized

    Posted on February 1st, 2010

    Written by admin

    Related Posts

    Bibb County, GA Bankruptcy Chapters 11 and 13

    Bibb County, GA Bankruptcy Chapters 11 and 13

    An ordinary person can file under chapter 11 in Bibb County, GA but, the provisions of chapter 11 are often availed to reorganize a business. Chapter 11 allows the debtor to run its business through a plan of reorganization, which should meet certain legal criteria. By creating chapter 11, the Congress provided the debtor a chance to restructure its finances so that it may continue to operate, provide its employees with jobs, pay its creditors, and provide a return for its stockholders.

    When the bankruptcy means test determines that you aren’t eligible to file for Chapter 7 Bankruptcy in Bibb County, GA you can instead select to file for Chapter 13 Bankruptcy. A Chapter 13 Bankruptcy is a court supervised payment plan that will allow you to keep your most important property while paying off your debts over time. If you file for Chapter 13 Bankruptcy you might be able to significantly reduce your medical bills. Chapter 13 will allow you to pay off your medical bills over a 3 to 5 year period of time depending on your disposable income. Many times, Chapter 13 Bankruptcy forces unsecured creditors like medical providers, hospitals, and doctor’s to accept pennies on the dollar.

    ———————
    Macon Georgia bankruptcy lawyer | Bankruptcy attorneys in Macon GA and Warner Robins – Filing for Chapter 7 Bankruptcy and Chapter 13 Bankruptcy in Macon GA

    http://www.macongabankruptcy.com

  • Uncategorized

    Posted on January 31st, 2010

    Written by admin

    Related Posts

    Bibb County, GA Bankruptcy

    Bibb County, GA Bankruptcy

    Bankruptcy process in Bibb County, GA starts with the filing of a petition in the bankruptcy court. The filing of the petition establishes a bankruptcy estate, which typically consists of all the assets of the person seeking bankruptcy protection. An independent taxable entity is created if the bankruptcy petition is filed by an individual under chapter 7 or chapter 11 of the US Bankruptcy Code.

    A bankruptcy petition is a document which starts the bankruptcy process. A petition may be a voluntary petition, which is filed by the debtor, or it can be an involuntary petition, that is filed by creditors that meet certain requirements. The voluntary petition should be as prescribed in Form 1 of the Official Forms prescribed by the Judicial conference of the United States. The Official Forms can be purchased at legal stationary stores.

    The documentation necessary when filing for bankruptcy in Bibb County, GA has increased. For example, the debtor should provide additional information that details all income and expenses. In cases where the expenses exceed the IRS allowance, a special circumstances document must be submitted which reasons the necessity of the extra expense incurred. A statement of accuracy should also be submitted, together with these special circumstance documents.

    ———————
    Macon Georgia bankruptcy lawyer | Bankruptcy attorneys in Macon GA and Warner Robins – Filing for Chapter 7 Bankruptcy and Chapter 13 Bankruptcy in Macon GA

    http://www.macongabankruptcy.com

  • Uncategorized

    Posted on January 30th, 2010

    Written by admin

    Related Posts

    Macon, Georgia Bankruptcy discharge

    Macon, Georgia Bankruptcy discharge

    Chapter 7 bankruptcy is a process in which an individual petitions the court to discharge all of their debts. The individual can have secured debt as well as unsecured debt and how each of these is handled can change from case-to-case. A debtor filing under chapter 7 of the United States Bankruptcy Code may have to relinquish a portion of their personal property in order to satisfy some of the debts owed to the creditors.

    The usual grounds for denying a discharge to an individual debtor in Macon, Georgia include:
    1. Debtor’s failure to keep or produce adequate books or financial records;
    2. The debtor failed to explain satisfactorily any loss of assets;
    3. The debtor is guilty of a bankruptcy crime such as perjury;
    4. Failure of the debtor to obey a lawful order of the bankruptcy court; or
    5. Fraudulent transfer, concealment or destruction by debtor of property that would have become property of the estate.

    The Chapter 13 debtor in Macon, Georgia is eligible to obtain a discharge upon successful completion of the payments under the Chapter 13 plan. In return for the willingness of the Chapter 13 debtor to maintain the discipline of a repayment plan for three to five years, a wider discharge is available under Chapter 13 than in a Chapter 7 case.

    Usually, the individual in Macon, Georgia is discharged from all debts provided for by the plan or debts that are disallowed, except for the following:
    1. Certain long-term obligations such as a home mortgage;
    2. Debts for alimony or child support;
    3. Debts for most government-funded or guaranteed educational loans or benefit overpayments;
    4. Debts arising from death or personal injury caused by driving while intoxicated or under the influence of drugs, which also refers to debts for restitution or a criminal fine included in a sentence on the debtor’s conviction of a crime.

    ———————
    Macon Georgia bankruptcy lawyer | Bankruptcy attorneys in Macon GA and Warner Robins – Filing for Chapter 7 Bankruptcy and Chapter 13 Bankruptcy in Macon GA

    http://www.macongabankruptcy.com

  • Uncategorized

    Posted on January 29th, 2010

    Written by admin

    Related Posts

    Macon, Georgia Chapter 20 Bankruptcy

    Macon, Georgia Chapter 20 Bankruptcy

    Most of your debts will be discharged by bankruptcy. When a debt is discharged in bankruptcy, it is no longer enforceable against you personally. The debtor is no longer required to pay the debt, or the portion of the debt that has been discharged. You cannot be subject to collection activity on the debt, including being sued on the debt. Creditors can, however, take steps to seize any secured asset on which there is a valid lien that has not been discharged (or cleared) by the bankruptcy court. A bankruptcy discharge will erase the debt and give the debtor a new start financially. Some debts must still be cleared. It is a rather longish list, but these debts will not be discharged: taxes; spousal and child support; debts arising out of willful misconduct and or malicious misconduct by the debtor; liability for injury or death from driving while intoxicated; non-dischargeable debts from a prior bankruptcy; student loans; criminal fines and penalties and forfeitures. It does not free the debtor from any debt incurred for money, property, services, or an extension, renewal, or refinancing of credit, to the extent obtained by false pretenses, a false representation, or actual fraud, other than a statement respecting the debtor’s or an insider’s financial condition.

    A so-called “Chapter 20″ bankruptcy is the process filing of a “Chapter 7″ bankruptcy to discharge unsecured debts, followed by a “Chapter 13″ bankruptcy to allow the debtor to catch up on mortgage payments The 2005 Bankruptcy Reform Act attempts to limit “Chapter 20″ bankruptcies by setting limits on the filing of successive bankruptcies. Under present bankruptcy law a Chapter 13 bankruptcy may be filed only once every two years, and three years must pass after the filing of a Chapter 7 bankruptcy before a Chapter 13 filing. Some debtors try to circumvent this restriction by filing for Chapter 13 protection while the Chapter 7 petition is still pending. This option is not available in all courts. In a “Chapter 20″ bankruptcy, debtors should know that missing even one mortgage payment after filing the initial “Chapter 7″ petition can cost them their ability to save their house in a subsequent “Chapter 13″ filing. Be warned: certain judges and creditors consider the move as a scam. Creditors have the right to object and the judge can dismiss the action. Some judges will allow the second filing, if there is a legitimate reason.

    ———————
    Macon Georgia bankruptcy lawyer | Bankruptcy attorneys in Macon GA and Warner Robins – Filing for Chapter 7 Bankruptcy and Chapter 13 Bankruptcy in Macon GA

    http://www.macongabankruptcy.com

  • Uncategorized

    Posted on January 28th, 2010

    Written by admin

    Related Posts

    Chapter 11 Bankruptcy in Macon, Georgia

    Chapter 11 Bankruptcy in Macon, Georgia

    Federal bankruptcy laws govern how corporations in Macon, Georgia go out of business or recover from deep debt. A bankrupt company might file under Chapter 11 of the US Bankruptcy Code to reorganize its activities and try to become profitable again. The company continues to operate the daily business activities, but all major business decisions must be approved by a bankruptcy court.

    A debtor under Chapter 11 can enter into an agreement with creditors under which all or a part of the business continues. The debts of the business are restructured to permit the debtor to continue the business operation. Basically any partnership, corporation or limited liability entity except a governmental unit may be a debtor in a Chapter 11 proceeding in Macon, Georgia . Under Chapter 11, only the debtor can submit a plan of reorganization within 120 days of the filing of the bankruptcy case. Under a typical reorganization agreement, the debtor will restructure the debts. Such a plan will generally include the repayment of loans secured by real property to be paid over an extended period of time. Intermediate term loans will be proposed to be paid over the remaining useful life of the security, which is typically five to ten years.

    ———————
    Macon Georgia bankruptcy lawyer | Bankruptcy attorneys in Macon GA and Warner Robins – Filing for Chapter 7 Bankruptcy and Chapter 13 Bankruptcy in Macon GA

    http://www.macongabankruptcy.com

  • Older Posts Yeah! There are more posts, check them out.

    Newer Posts Yeah! There are more posts, check them out.