The cause of your financial problems may be a result of a variety of circumstances; the recent economic downturn, outstanding medical bills, or overwhelming credit card debt. When it reaches a point where you are under pressure to repay your depts. In search cases one should search for alternatives. When things get to the point where you're constantly worried about the state of your financial future, your best option may be to consult with a Norcross bankruptcy lawyer.
If you decide file or report for personal bankruptcy, always make be sure that your personal properties such as and other assets are protected. Work with a Norcross bankruptcy lawyer for the best results for your particular situation. Find yourself a bankruptcy lawyer who has years of experience with personal bankruptcy cases and a system that is well managed for fillings and forms. It is advisable to ask for referral from a person or lawyer you believe in or trust. Make sure that the people you gather the information from are well knowledgeable on the issue at hand and understand personal bankruptcy.
A chapter 13 bankruptcy which is called a plan for the wage earner enables people earning income regularly to formulate a plan for payment of a part or all of their debts. By virtue of this chapter, the debtor can develop a plan for repayment in installments over the next three to five years. This chapter 13 enables the debtor to retain ownership of his property and pay off the debts by paying in installments over a period of five years or less.
Under the Bankruptcy Code, if the debtor has a monthly income which is less than the median set by the state, then the developed repayment plan will be for only three years unless the court specifically provides repayment to be done for a longer period. The court may advise a longer period if it is convinced of the reasons put forward by the debtor. On the contrary, if the debtor's monthly income is in excess of the median stipulated by the state, then the repayment period of the debts will be for five years. In no case can the period of repayment be more than five years [11 U.S.C. § 1322(d)]. During the period of repayment, it is mandatory that no efforts be made towards the collection of the debts owed by the debtor.
There are advantages of the applicability of chapter 13 proceedings as compared to the liquidation proceedings under chapter 7. The significant advantage of a chapter 13 proceedings is that the debtor is able to keep ownership of his home and no foreclosure can be ordered. This procedure helps the debtor to clear his dues over a period of time without any foreclosure proceedings being initiated against the debtor, though it is required that all future debt payments must be made on time.
Another advantage of this proceedings is that it provides for the debtor to be able to change his repayment plan as long as the repayments stay under the period of the plan. The debtor may even opt to lower the repayment amounts. This proceeding also has a provision for the protection of third parties whose liability falls under “consumer debts” and extends this protection to co-signers also. The chapter 13 bankruptcy is a consolidated loan wherein the debtor pays the installment to a court trustee who in turn distributes this amount to the individual creditors. The individual debtors will not come directly in contact with the creditors as long as the chapter 13 proceedings are in progress.
Unless otherwise ordered by the court regarding an extension, the debtor must submit a plan for repayment of his debts within a period of fourteen days after filing of the petition [Fed. R. Banker. P. 3015]. This plan will call for regular payment of a specific amount to the trustee who will distribute to all the creditors. These payments need to be done either on a monthly or bi-weekly basis.
Norcross is a city in Gwinnett County, Georgia, the USA which has a population of 16634 people as per the 2015 census. Most of the homes in this city are single-family homes and are constructed with historic architecture. There is a new $4 million park, and the city park provides numerous activities for families. The city is a great off-the-track place to get together with family and friends for a nice dinner.
There are Chattahoochee River communities including the Peachtree Corners to the west, posh country club area to the northwest and a strong international community along the eastern boundary of Buford Highway but the Downtown connects them all. The historic Downtown poses as the heart of the area where café fronts, bars, restaurants, picturesque store, little league games, fireworks and street festivals provide a romantic evening stroll.
However, there are two distinct Norcross groupings. There is that sector which is very diverse in its culture but with a modest income. Then there is the unincorporated Peachtree Corners sector which features a planned community centered on Technology Park where the shopping, working, and housing are state-of-the-art. The weather here is fantastic with four full seasons. This second sector sits on the banks of the Chattahoochee River and borders towns such as Alpharetta, Duluth, Dunwoody, and Roswell.
There are several festivities and places which you should not miss while in Norcross. This includes but not limited to:
Academy of Ballet – Located at 6470 Spalding Dr, this is a place to be for those who love dancing. It offers classes in lyrical, hip hop, jazz, tap, ballet and more. It takes in people aged above 3. It is a home to the ��Children's Nutcracker' summer classes, and its camps usually begin in June. The staff and the teachers are great. You can opt for private lessons or group training and can be admitted to a dance party.
Peachtree Corners Festival – Located at 6045 Atlantic Blvd, you will enjoy walking around looking at the various services, offerings, and arts and crafts. There are live music and plenty of food to choose from. The noodles are very seasoned and contain a combination of veggies and chicken with little fat. You can also try out subs, hotdogs, turkey drumsticks, Italian ice and jerk chicken. You will find some vendors selling gifts for dog lovers, caricatures, face paintings, toy shooters, wood products, granola, homemade soaps and plenty of jewelry. Enjoy the live band on center stage playing a good blend of music as you seat on covered seats beneath shades. Check out the various classic cars on display as they form the highlight of the festival.
Netherworld Haunted House- Located at 6624 Dawson Blvd, where you will be scared to death. It is amazing here especially when you go through both houses. You get to meet the scariest monsters. Its special effects keep improving every year. People have to buy the SPEED PASS so as to support the place.
Atlanta Korean Festival – Located at 5900 Brook Hollow Pkwy, get that taste of Korean Culture. The Festival happens yearly with outside and inside activities. Korean art is displayed on top of the floor. You have to listen to Koreans sing.
Gwinnett County Ga is a county in the State of Georgia, specifically, in its northwestern part. It was named after Button Gwinnet, who was one of the signers of the most important document in American history, the Declaration of Independence. The seat of county is Lawrenceville, and the county itself is the second most populous in the state of Georgia, with 859.394 residents as of 2010.
If you would like to know more about the history of Gwinnett County Ga, you should know that it dates back to 1818, when the Georgia General Assembly issued an act, according to which parts of Jackson County, and Indian lands gained through cession, were to be united. It was also at that time, that Lawrenceville became home to the county seat. Elisha Winn's home was the place of the first county court meeting. It is worth noting that, during the Civil War, all 3 representatives from Gwinnett County cast their votes against secession, at the Georgia Constitutional Convention held in Milledgeville.
When it comes to the geography of the county, it stretches over a total area of 437 square miles, and consists of 430 square miles of land, and 6.4 square miles of water. In general geographical terms, the county is situated along the Eastern Continental Divide, and its northwestern portion belongs to the Chattahoochee River National Recreational Area. The northernmost part of the county is home to Lake Lanier, which acts as the regional reservoir. The central and southern areas are situated along the Upper Ocmulgee River sub-basin, which itself belongs to the Altamaha River basin.
Industry and Economy
As far as the economy is concerned, Gwinnett County is home to a number of successful companies and corporations. Some of the most notable ones include AGCO, which has its headquarters in Duluth, Primerica, also headquartered in the vicinity of Duluth, and Canon, which has its regional headquarters in the southeastern region of the county, specifically Norcross. Other notable businesses are American Megatrends, headquartered near Norcross, NCR corporation, near Duluth, Datapath, Yerkes National Primate Research Center, and Waffle House. Additionally, you can find a number of media outlets in the County, like the Gwinnet Daily Post, the El Nuevo Georgia, a Spanish language newspaper, and the Atlanta Journal-Constitution, as well as Telemundo Atlanta.
Education and sports
If you are interested in colleges Gwinnett County has to offer, you can check out Gwinnett Technical College and Georgia Gwinnett College, both located in Lawrenceville, and the Philadelphia College of Osteopathic Medicine in Suwane. Private schools include Wesleyan School, Seigakuin Atlanta International School, and the Greater Atlanta Christian School. If you are more interested in sports, however, you can check out the Atlanta Gladiators, an ice hockey club, and the Gwinnett Braves, a baseball team.
It's usually unclear to people exactly what options are open to them when they are considering Chapter 7 bankruptcy, which is why a little Chapter 7 bankruptcy information can go a long way. The economy has been very tough on a lot of Americans lately, and the recent changes to bankruptcy laws in 2005 has left many wondering exactly what Chapter 7 means. Chapter 7 is, if a filing is successful, the best way to get clear your debt. Please keep in mind though, that any decisions about the matter should be made in consultation with a bankruptcy lawyer.
Chapter 7 Bankruptcy is the complete liquidation of all property not subject to a list of State-determined or federally determined exemptions. This property is sold to reimburse, in part at least, the creditors that the debtor owes money to. There is no repayment plan under Chapter 7; the debts are simply discharged. Applying for this type of bankruptcy is the equivalent of a fresh start, debt-wise.
It doesn't matter how much a creditor is owed by a debtor or even whether the creditor can pay the debt back over an extended period of time. So long as the debtor has applied for counseling from an approved credit or financial service 180 days prior to their filing for Chapter 7 and hasn't been disrespectful of the courts proceedings in that same period, any corporation, individual, or partnership can apply for Chapter 7.
Of course, the court system isn't about to let someone clear their debts if they are clearly capable of paying them but refusing to do so. Thus, the federal government developed a 'means test' to figure out whether or not someone is trying to abuse the system with his or her petition.
The first part of the test depends on how much an individual has earned monthly over the past five years in comparison to the median income of the state they've resided in during that period. Unsecured debt, or debt that isn't secured by some form of collateral, is key to understanding the second part. Usually, credit card debt is unsecured debt. Your expenses cannot go beyond twenty-five percent of their unsecured debt. Otherwise, the court perceives that the debtor is filing an abusive claim. At that point, the debtor will either have his case dismissed or have to file for Chapter 13.
A Chapter 13 claim is very different from a chapter 7 claim. Under Chapter 13, a debtor placed under a five-year repayment plan to his creditors. The amount left over after that period is dismissed under Chapter 7, and no property is liquidated.
Microscopic is exempted during the Chapter 7 process, so debtors who want to keep their house and motor vehicle, amongst other things, should probably not file for Chapter 7. Also, if the debtor owns a business and wishes to keep it going, they should probably seek alternative means of declaring bankruptcy. One alternative is settling with debtors outside of the court system and finding a payment plan through negotiation.
Whatever a debtor ultimately decides to do, with the Chapter 7 bankruptcy information that is evident, their finances are going to be critiqued heavily. The court system, including Chapter 7 filings, is only meant to benefit trustworthy debtors who want a fresh start.