When you realize you cannot afford to pay your bills, you have to make tough choices. Which bills can go unpaid? Typically, the first bills that we get behind on are those that don’t bring an immediate consequence. HOA fees are one example of this. The trouble is, these bills don’t go away – they continue to pile up, even as your financial situation gets worse.
How to handle HOA Fees during Bankruptcy
The bankruptcy code in Georgia is built to give you a fresh start, and that may include your HOA fees! Your attorney can help you plan how to handle these bills, and what bills you’ll be responsible for after your bankruptcy. Be careful to consider your HOA fees if you decide to reaffirm your home during your bankruptcy. If you are going to keep your home after your bankruptcy, be aware if you’ll be responsible for your HOA fees again going forward. The bills that you’ve already left unpaid may be discharged during your bankruptcy, though.
If you’re going to give up your home during your bankruptcy, you have a lot to consider. Your attorney can help you understand the impact of taking a home into bankruptcy versus allowing your home to be foreclosed on before you file bankruptcy. The Georgia bankruptcy code has very detailed rules around these situations, and your attorney can help you understand your options.
If you have any questions, please give us a call: (866) 284-4531