Macon GA Bankruptcy Lawyer – Chapter 7 & Chapter 13 Attorney

Macon GA Bankruptcy Lawyer | Bankruptcy Law Amendments in 2006

Macon GA Bankruptcy Lawyer - Bankruptcy Law Amendments in 2006 How it affects filingIn the ten year period, between 1994 and 2004, bankruptcy filing in the United States nearly doubled. The government's response was to take a deeper look at reasons individuals and businesses were filing for protection. New statutes were passed to ensure that individuals and businesses had valid reasons for applying for bankruptcy.One of the primary rule regarding bankruptcy that was instated in the United States during 2004 was the Bankruptcy Abuse Prevention and Consumer Protection Act. This Act became effective in October 2005.  This law created quite a stir in the financial and bankruptcy law arenas. In addition to it more difficult to qualify for Chapter 7 bankruptcy, or complete bankruptcy, this law imposes tougher rules and budgets on Chapter 13 debtors.One major change the Act is the necessity for filers to have filed tax returns for four consecutive years before qualifying for filing. Dischargeable debts, or those debts where personal liability is withdrawn by the legal system, is more difficult to come by. The law requires that filers prove good reason for dischargeable debt and mandates more debtors to shoulder responsibility with non-dischargeable debt budgets.Chapter 13 bankruptcy allows the debtor to keep certain assets upon proving only limited debt and a steady income. This bankruptcy is best suited for those filers who have gotten themselves into a major financial difficulty but still have means of paying for some assets. The court will set up a repayment schedule and budget that permits for full repayment of mortgages or car loans in three to five years.If repayment is simply not possible, the bankruptcy Act mandates that a filer file for Chapter 7 bankruptcy. This is often known as complete liquidation of assets, except for exempt items. Exempt items in a bankruptcy hearing are determined by the court and are usually items that are a necessity. The courts will distribute debts into two groups: non-dischargeable and dischargeable debt. Our attorneys are based in Macon, GA (Georgia) and help clients in Roberta, Warner Robins, Forsyth, Byron-Centerville, Culloden, Fort Valley, Haddock, Jeffersonville, Lizella, Perry, Gray, Bibb County, Monroe County, Jones County, Crawford County, Peach County, Twiggs County, Ba

Jones County Georgia Responsibilities of bankruptcy debtor in possession lawyer

Jones County Georgia Responsibilities of bankruptcy debtor in possession lawyer

Responsibilities of bankruptcy debtor in possession in Macon Georgia

The United States trustee fixes certain requirements on the debtor in possession about issues including reporting its monthly income and operating expenses, the establishment of new bank accounts, and the payment of existing employee withholding and other taxes. By law, the debtor in possession has to pay a quarterly fee to the US trustee for each quarter in a year until a plan is approved or the case is converted or dismissed. The amount of the fee, which may range from $250 to $5,000, is based on the amount of disbursements during each quarter. If a debtor in possession fails to comply with the reporting requirements of the United States trustee or orders of the bankruptcy judge or does not take the appropriate steps to bring the proceeding to confirmation, the US trustee may file an application with the court to have the debtors chapter 11 case converted to a case under another chapter of the US Bankruptcy Code or to have the case dismissed.

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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

Warner Robins GA Examiner lawyers

Warner Robins GA Examiner lawyers

Examiner in Chapter 11 Bankruptcy in Macon GA

The appointment of an examiner in a chapter 11 proceeding rarely happens, as does the appointment of a case trustee. Besides, the responsibilities of an examiner is usually more limited compared to of a trustee. The examiner is authorized to conduct the investigatory role of the trustee and must file a statement of any investigation performed. When directed to do so by the judge, an examiner can perform any other duties of a trustee that the judge orders the debtor in possession not to carry out. Each court may decide the duties of an examiner in each proceeding. In certain proceedings, the examiner may file a plan of reorganization, negotiate or assisit the parties negotiate, or review the debtors schedules to find out whether some of the claims are incorrectly listed as disputed, contingent, or unliquidated, and also whether other claims must be listed as such. Many times the examiner can be directed to determine whether objections to any proofs of claim should be filed or if causes of action have enough merit so that further action should be taken. The examiner in a proceeding, however, can not serve as a trustee.

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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

Warner Robins Georgia Chapter 11 Bankruptcy case trustee attorney

Warner Robins Georgia Chapter 11 Bankruptcy case trustee attorney

Chapter 11 Bankruptcy trustee in Macon GA

In chapter 11 proceedings, the United States trustee, a federal employee, can not function as a case trustee, who is usually a private individual. The US trustee is responsible for observing all chapter 11 proceedings and has authority to appear and be heard on any issue in any case, but may not submit a plan. The case trustee, however, is responsible for management of the property of the estate, operation of the debtors business, and, if required, the filing of a plan of reorganization. Section 1106 of the United States Code mandates the trustee to submit 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.

The court, upon notice and hearing, can, at any time prior to confirmation, at the request of a party in interest or the United States trustee, end the trustees appointment and restore the debtor to possession and management of the assets of the estate and of the management of the debtors business.

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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

Macon Georgia Case trustee attorneys

Macon Georgia Case trustee attorneys

Bankruptcy case trustee in Bibb County Georgia

Even though the appointment of a case trustee is rarely occurs in a chapter 11 proceeding, a party in interest or the United States trustee may apply for the appointment of a case trustee or examiner at any time before confirmation in a chapter 11 case. The judge, on application by a party in interest or the United States trustee and subsequent to notice and hearing, can order the appointment of a case trustee for cause, including fraud, dishonesty, incompetence, or gross mismanagement, or if such an appointment is in the interest of creditors, any equity security holders, and other interests of the estate. The trustee is appointed by the United States trustee, in consultation with parties in interest and subject to the courts approval. The trustee in a case can be elected if a party in interest requests the election of a trustee within 30 days of the court order appointing the trustee. In such instances, the United States trustee convenes a meeting of creditors for electing a person to act as trustee in the case.

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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

Bibb County GA Small Business Debtor Bankruptcy lawyer

Bibb County GA Small Business Debtor Bankruptcy lawyer

Small Business Debtor in Warner Robins Georgia

Few categories of debtors are defined in the bankruptcy Code and have special provisions are applicable only to these debtors. One of these debtors is a small business, defined as a person engaged in commercial or business activities but not a person that primarily owns or operates real property that has aggregate non-contingent liquidated secured and unsecured debts less than $2,000,000. When the debtor qualifies and elects to be treated as a small business, the proceeding is placed on a "fast track" and treated differently unlike a regular chapter 11 proceeding under the US Bankruptcy Code. For instance, the appointment of a creditors committee and a separate hearing to approve the disclosure statement are not required. On request of a party in interest and for cause, the judge candirect that a creditors committee not be appointed. The judge may conditionally approve a statement of disclosure, subject to final approval after notice and a hearing. Solicitation of votes for acceptance or rejection of the plan can go ahead based on the conditional approval of the statement of disclosure. Thereafter, the statement of disclosure hearing might be combined with the confirmation hearing. Also the debtor has a lesser time period of 100 days during which only the debtor may file a plan. When the 100-day period expires, any party in interest may submit a plan; although, all plans must be filed within 160 days from the date of the order for relief.

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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

Bibb County Georgia Chapter 11 bankruptcy lawyer

Bibb County Georgia Chapter 11 bankruptcy lawyer

When to file bankruptcy under Chapter in Macon Georgia

An ordinary person may file under chapter 11; although, the provisions of chapter 11 are usually avaled to reorganize a business. Chapter 11 allows the debtor to manage its business by means of a plan of reorganization, that should meet certain statutory criteria. By creating chapter 11, the Congress provided the debtor an opportunity to restructure its finances so that it can continue to operate, provide its employees with jobs, pay its creditors, and provide a return for its stockholders. As chapter 11 envisions an ongoing business, the most likely individuals to have knowledge and details of the operation are the present managers who generally continue operations during the chapter 11 proceeding. The main rationale of business reorganizations is that the value of a business as an ongoing concern is far more than it would be if its assets were sold. When a business suffers financial difficulties, like not being able to pay its creditors because of cash flow problems, it must consider filing a chapter 11 bankruptcy. If the business can extend or reduce its debts or significantly decrease its operating cost, it generally can be returned to a viable state. Often, it is makes more economic sense to reorganize than to liquidate, as doing so safeguards jobs and assets. Cooperation among the various interests is vital to a successful reorganization.

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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

Macon GA bankruptcy attorney describes bankruptcy petitions

Macon GA bankruptcy attorney describes bankruptcy petitions

Bankruptcy pleadings in Macon Georgia

The bankruptcy petition is a document which initiates the bankruptcy process. The petition may be a voluntary petition, that is filed by the debtor, or it may be an involuntary one, which is filed by creditors who meet certain requirements. A voluntary petition must be as prescribed in Form 1 of the Official Forms prescribed by the Judicial conference of the United States. The Official Forms can be obtained at legal stationary stores. The voluntary petition should include general information concerning the debtors name(s), social security number or tax identification number, residence, location of principal assets (if a business),the debtors plan or intention to file a plan, and a request for relief under the appropriate chapter of the Bankruptcy Code. Also, a voluntary petition must indicate if the debtor qualifies as a small business as provided by the law and also if the debtor elects to be treated as a small business under the law. Once the debtor files a voluntary petition under Chapter 11, the debtor becomes the debtor in possession. In case of an involuntary filing, upon the entry of an order for relief, the debtor becomes the debtor in possession. A keeps possession and control of its properties and undergoes a reorganization under chapter 11, without the appointment of a bankruptcy trustee and before the confirmation of a chapter 11 plan. The appointment or election of a trustee happens only in a rare cases. Often, the debtor, as debtor in possession manages the business and carries out the functions that a trustee performs in cases under other chapters.

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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

Jones County GA Chapter 11 bankruptcy plan lawyer

Jones County GA Chapter 11 bankruptcy plan lawyer

Chapter 11 bankruptcy plan of reorganization in Jones County Georgia

A written disclosure statement and a reorganization plan has to be presented to the court. A disclosure statement is a document that will contain information regarding the assets, liabilities, and affairs of the debtor sufficient to help a creditor to take an informed decision about the plan. The information needed is governed by judicial discretion and the circumstances of the case. The plan should provide a classification of claims and must specify how each class of claims will be considered according to the plan. The plan should be voted upon by those creditors whose claims are impaired, i.e., those whose contractual rights are to be altered or who will be paid less than the full value of their claims under the plan. When the statement of disclosure is approved and the ballots are cast and counted, there must be a confirmation hearing at which the court determines whether to confirm the plan.

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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

A Bibb County Georgia bankruptcy lawyers explains Wage garnishment

A Bibb County Georgia bankruptcy lawyers explains Wage garnishment
Macon bankruptcy law firm


It is not a nice thing to be called in by your employer to be told your paycheck is being garnished. You must do all you can not to let things reach this point, however at times they do and you must know what steps to take. Such things do not happen overnight, the collection company should prove to the judge that they took the correct steps in trying to collect from you first. This is usually a last step for them, but they will do it. When you file bankruptcy there is something called an "automatic stay" that prohibits the collectors from continuing any action against you. At this point you are under the courts protection and if they proceed with their pursuit they are violating the law. In some cases, the debtor has actually sued the collector and won damages against the collection agency. Also, there is a likelihood you may receive some of the garnished income back that was taken from your paycheck.

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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