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Georgia Attorneys Leonard, Rickman & Holloway, PC
February 23, 2011
Credit Scores After Bankruptcy
Posted By Soo J. Hong
Clients almost always ask about the affect of bankruptcy on their credit score. Most often, they already assume that bankruptcy will ruin their credit for a long time but this may not be the case. A good credit score comes from paying bills on time. ...
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February 15, 2011
What is a Charge Off?
Posted By Soo J. Hong
Posted By Soo J. Hong There are many misconceptions about what a charge off really is. A Charge Off is when the lender removes a delinquent account from its accounting books thus resulting in the lender taking a loss on the account. Thus, it's ...
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July 20, 2010
Tidbits on single and joint bankruptcy filings when married
Posted By Soo J. Hong
Only lawfully married couples can file a joint bankruptcy. Even if a couple is lawfully married, the Defense of Marriage Act (DOMA) prevents same sex couples from filing a joint bankruptcy. A married couple can decide to file jointly or individually. ...
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July 20, 2010
We are getting divorced and we need to file for bankruptcy relief, help!
Posted By Soo J. Hong
Filing bankruptcy in the middle of a contested divorce is usually not a good idea. Debt awarded in a divorce decree is not dischargeable in a Chapter 7. It all comes down to whether the debt is defined as support. As long as the debt is NOT defined ...
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July 20, 2010
Divorce and Bankruptcy: Domestic Support Obligations v. Property Settlement
Posted By Soo J. Hong
Domestic Support Obligation (DSO), child support and alimony, are not dischargeable under any type of bankruptcy and must be paid. Under bankruptcy law, DSO is defined as any debt 1) incurred before or after a bankruptcy filing 2) that is owed to or ...
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June 21, 2010
NSF Fees - Dischargeable?
Posted By Soo J. Hong
With the advent of electronic payments, fees for Non-Sufficient Funds (or NSF Fees) have become common. When consumers spend more than what is in their accounts, this can result in banks charging NSF fees. I often have clients that are concerned as ...
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June 18, 2010
An Explanation of the Reaffirmation Process
Posted By Soo J. Hong
When you file a Chapter 7 bankruptcy case, you will indicate in your petition whether or not you want to retain and reaffirm or surrender on your secured debts. When you decide to retain and reaffirm, the creditor must agree to offer you a ...
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