Gingold & Gingold LLC
Getting a Fresh Start
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Atlanta Office Gingold & Gingold LLC 1718 Peachtree St NW #385
Atlanta, GA 30309

Phone: (404) 685-8800
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Cumming Office Gingold & Gingold LLC 327 Dahlonega Street
Suite 1901A
Cumming, GA 30040

Phone: (770) 887-2979
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Dallas Office Gingold & Gingold LLC 201 W Memorial Dr
Dallas, GA 30132

Phone: (770) 443-1864
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Douglasville Office Gingold & Gingold LLC 6716 E Broad St
Douglasville, GA 30134

Phone: (770) 920-1939
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Duluth Office Gingold & Gingold LLC 3675 Crestwood Pkwy #204
Duluth, GA 30096

Phone: (678) 689-2102
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Atlanta Bankruptcy Law Blog

Debt issues start early for many young people

We have mentioned in previous blogs that debt is not typically something that accumulates all at once. People often struggle with a number of different financial challenges over the course of several months or years before money woes ultimately become unmanageable. 

However, while debt doesn't usually happen all at once, it does start affecting people's lives early on. In fact, debt can start accumulating for many people before they even get their first job. 

Signs you may want to consider filing bankruptcy

Money problems don't typically develop overnight. They often start small with a missed bill or unexpected expense. However, that one small issue can turn into a very big problem that seems to take over a person's life when fines, penalties and missed payments stack up.

There are many people who deal with financial struggles on a regular basis. Every month, they try to figure out how to pay a mortgage, credit card bills, utilities and other expenses, but there is simply not enough money to cover everything. For some people, these issues are short-term or isolated events; for others, there seems to be no end in sight to the financial strain. 

Facing foreclosure? What you need to know

There are millions of people in the U.S. who are trying to deal with overwhelming stress stemming from debt, unemployment and unpaid bills. A seemingly constant stream of calls from creditors combined with the penalties of falling behind on payments only make matters worse.

In the midst of all these financial concerns, the threat of losing a home in foreclosure proceedings can be too much for a person to handle. Foreclosure is a serious action that can turn a person's world upside down, and it is often a top priority for people in economic distress to protect that one asset. In order to prepare for or try to avoid foreclosure, it can be crucial to understand how the process works and what options may be available for keeping a home.

How to get a fresh start financially in 2015

With the new year comes the opportunity for a new beginning and a fresh start. If you didn’t feel good about your finances in 2014, now is the perfect time to implement new strategies to get back on the right track.

For some Georgia residents, that may mean taking steps like creating a budget, increasing your savings and beginning paying off debt. In fact, the personal finance website WalletHub.com recently shared some excellent resolutions that can make the new year friendlier on your wallet. 

Do not be ashamed or embarrassed by debt

It can seem like people share everything with the world these days. We only need to look at Facebook or Twitter to read about where people eat dinner, how much they like or dislike their job, difficulties they are having with their kids or how they are redecorating their bathroom. 

But one topic that we rarely read about or share with others is debt. People don't like to talk about problems with debt; in fact, many people will go to great lengths to hide or ignore financial problems. In many cases, people do this because they don't want others to think of them as financially irresponsible. But while you may not want to share your financial struggles with an entire social network, you may want to seriously consider discussing them with an attorney.

Can all my debt be discharged by filing Chapter 7 bankruptcy?

Being buried in debt is something far too many people in Atlanta are struggling with. And while being unable to keep up with bills and other payments is stressful enough, it is not just the money troubles that make this situation so unbearable. There are also the relentless letters and calls from collections agencies and the looming fears about the future.

It may not be long before people in this situation reach a breaking point. They may see no end to the harassment and the penalties for missed payments may be adding up faster than ever. At this point, it may be crucial to explore the option of filing for Chapter 7 bankruptcy protection in order to have certain types of debt discharged.

How does your credit card debt compare to national averages?

When you are feeling stressed about debt, it can sometimes feel like you are the only person in the world with money issues. The reassuring news is that you are actually in good company. America runs on debt, and recent data shows that many American households have more debt than you might think.

The three largest sources of household debt in the U.S. are, in order: mortgages, student loans and credit cards. In today’s post, we’ll discuss credit card debt data analyzed by the financial website NerdWallet.com.

Bankruptcy's automatic stay can stop wage garnishment

Having your wages or bank account garnished by creditors can be frightening, especially since you probably are already dealing with huge debt problems by that point. With less money coming in, how are you supposed to get a handle on your bills?

Bankruptcy may be an option. Going through Chapter 7 or Chapter 13 bankruptcy has several advantages. One of them is that collection efforts like garnishment stop immediately.

Retailers target shoppers to increase spending during holidays

The holidays can be the most stressful time of year, especially for people who are already dealing with tight finances and money woes. There is a lot of pressure to buy gifts, stock up on decorations and attend parties, all of which can make people feel like spending money is unavoidable.

Unfortunately, millions of Americans are struggling with debt and don't have the disposable income to support extravagant shopping behaviors. But this hasn't stopped companies from targeting shoppers and trying to entice them to increase spending and borrowing. This year, online suppliers and brick-and-mortar stores have been as aggressive as ever when it comes to attracting shoppers and generating sales.

What to know about taxes and Chapter 7 bankruptcy

When facing serious debt problems, it is a common instinct to avoid collections agents. This instinct is understandable. You are already facing enormous amount of stress with mounting bills and the inability to pay them off. Letters, phone calls and other communications from creditors only add to this stress.

However, when it comes to tax debt, it is important to deal with these issues appropriately, especially if you are considering filing for Chapter 7 bankruptcy. Some tax debts are eligible for bankruptcy discharge, but failure to deal appropriately with the IRS could jeopardize this opportunity.

If you are dealing with insurmountable debts and considering bankruptcy, the following information can help ensure that your tax debts remain eligible for tax discharge.