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Pytte Law

How Much Does It Cost to File for Bankruptcy?

Bankruptcy is a legal process that can provide a fresh start to those struggling with significant debts. However, it's important to be aware that filing for bankruptcy also comes with its own set of costs.
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Pytte Law

The Benefits of Bankruptcy

Bankruptcy—it's a word that can send shivers down your spine. We understand the stress you're under and the sleepless nights you've been having. But you have to remember: you're not alone in this.
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Pytte Law

How Does Filing for Bankruptcy Affect a Cosigner?

Filing for bankruptcy offers many benefits, the most obvious of which is that you could be cleared of all or most of your debts. However, it is important to understand the risks and the unintended consequences of filing for bankruptcy, one of which is its potential impact on co-signers.
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Pytte Law

Reverse Mortgages and Bankruptcy: What You Need to Know

Reverse mortgages tap into the equity of your home and provide some form of financial assistance, whether it’s through a lump sum, a monthly stipend, or a line of credit. They are available to homeowners who are 62 or older and qualify not only in terms of home equity but also credit.
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Pytte Law

When Should a Business Consider Bankruptcy?

In Georgia, businesses that are facing financial difficulties can achieve financial relief and stability through bankruptcy. Taking the time to understand the different options of bankruptcy that are available to you, as well as the benefits, drawbacks, and resulting implications for your company, is imperative to make informed decisions about your business bankruptcy.
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Pytte Law

Does Bankruptcy Affect Social Security Income?

According to statistics from the Social Security Administration, on average, nearly 67 million Americans will receive Social Security benefits every month in 2023. In Georgia and across the United States, qualifying retired workers, people with disabilities, dependents, and survivors receive Social Security benefits to cater to their daily living and medical expenses.
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Pytte Law

Joint Accounts and Bankruptcy

In 2022, there were 3,495 bankruptcy filings in the Southern District of Georgia alone. If you're considering filing for bankruptcy, it’s crucial to understand how your filing may affect others, especially anyone with whom you hold a joint account or joint property.
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Pytte Law

How Bankruptcy Affects Tax Returns

In May 2023, the State of Georgia started issuing refunds to taxpayers from a budget surplus. Those who filed taxes for the 2021 and 2022 tax years qualify for refunds of $250 for single filers, $500 for joint filers, and $375 for single heads of households.
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Pytte Law

Tax Issues: Which Chapter to Choose

According to statistics from the 2021 Internal Revenue Service Data Book, more than 8.4 million Americans owed over $133 billion in past-due taxes, penalties, and interest to the IRS in 2021. When overwhelmed with debts or facing financial hardship, bankruptcy is among the promising solutions to achieve financial relief.
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Pytte Law

Will Bankruptcy Discharge My Tax Debt?

When you find yourself in over your head with debt you’re not able to pay, you may consider filing for bankruptcy. While this may seem like a drastic step, for some people, it will be the right choice to get them back on the road to a stable financial future.
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