Gingold & Gingold LLC
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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

Don't fall victim to debt relief scams

In this day and age, your contact information can be accessed by others much more easily than you think. Email and phone lists for one company can be purchased and used by other parties, lawfully or not. When you sign up for things online or give out your phone number for applications and other services, that information is not guaranteed to be safe and used only by the parties to whom it was given.

This is why debt relief scams are so common. Companies access this contact information and send emails and make phone calls to people claiming to be a legitimate debt-relief company; people fall victim to these tactics because the company knows their name and may sound like it has the answer to solving debt problems quickly.

What happens to my child support payments if I file bankruptcy?

Getting divorced has financial implications on everyone involved, particularly for parents. One or two incomes may have supported a single household when a couple is married, but that same amount of money may not support two separate households as easily. Further, one parent can be ordered to make child support payments which can prove to be completely overwhelming.

For people who are in a position involving unmanageable debt, bankruptcy is certainly an option that may be worth pursuing to ease the financial strain. However, it can be crucial to understand that there are certain expenses related to family issues that cannot be discharged through bankruptcy, including child support.

Debt can be tackled by repaying it through Chapter 13

Too many people have misconceptions about bankruptcy. They think that a person who files for bankruptcy is irresponsible and just wants a quick and easy way to get out of paying their debts. However, bankruptcy is something that all kinds of adults have to consider thanks in large part to factors like the recent recession, increasing medical expenses and soaring student loans.

Additionally, bankruptcy is not quick or easy. It can be a very complicated process that affects a person's financial standing for years, so it is important not to take the situation and decision to file for bankruptcy lightly. Finally, people who file for bankruptcy aren't just trying to get out of paying debt. In fact, people who file for Chapter 13 bankruptcy want to pay off debt but need help in the form of a repayment plan.

Homeowners: once bitten, twice shy?

Losing a home in foreclosure can be an extremely upsetting experience for any homeowner in Atlanta. Unfortunately, it is an experience that far too many people have had in the past decade thanks to the volatile housing market and troubling loan practices. Because of these factors, millions of people went through foreclosure in the past 10 years.

Now, economists and real estate professionals are worried that many of these same people will not return to the market, even when they are eligible and well-positioned to do so. In fact, the National Association of Realtors estimates that as many as two-thirds of people who lost their home in the last 10 years will not buy another house.

How an attorney can help if you are dealing with debt

If you are under extreme financial pressure and facing unmanageable debt, the last thing you probably want to do is spend more money, and dealing with the relentless calls and letters from creditors can just make you want to hide or try to ignore the issue. It can also be very challenging and even embarrassing to discuss your poor economic status with someone else.

Because of these factors, many people will often try to handle their situation on their own if they are in debt. However, for a number of reasons, this can prove to be a costly mistake.

Getting divorced doesn't mean you can break up with your debt

The process of getting divorced can be extremely stressful and emotional. People can be dealing with feelings of betrayal, anger, guilt, sadness and fear for what the future will look like. Add to all this the stress of dealing with financial problems, and it can all prove to be quite overwhelming.

Unfortunately, debt and divorce often go hand-in-hand. Unmanageable debt can be the factor that puts such incredible strain on a marriage that it cannot last; people who have gotten divorced may find that moving on financially afterward can prove to be enormously challenging and end up creating debt on their own; it can also be quite expensive to actually get divorced, which can only add to existing or potential financial problems. If you are in any of these situations, there are a few things you should understand.

Study highlights challenges of debt and young age

It is easy to be jealous of the fame and talent of professional football players; their potential fortunes are also something to envy. People often assume that all that money comes with a happy life free from financial woes. However, these athletes face the same money problems that people all across Georgia deal with every day.

In fact, a recent study by the National Bureau of Economic Research estimates that roughly 15.7 percent of NFL players have filed for bankruptcy protection after retiring from the league. While this may sound quite high, the number is actually similar to one group of people outside the league: young people.

Student Loan Debt Surpasses Credit Card Debt

Education has always been sold as a key toward upward economic mobility. As more and more people followed that advice and pursued higher education, the number of people carrying heavy student loan burdens has increased to the point where the total value of student loans is now greater than the value of credit card debt. 

The Washington Post reports that Americans currently hold $870 billion in student loans and only $693 billion in credit card debt. With student loan debt surpassing credit card debt, we may witness a new era of debt difficulties for Americans. When people have become overwhelmed by debt in the past, bankruptcy has always been an option to help people secure a fresh start. 

Being hounded by creditors? Know some basics of the FDCPA

If you are dealing with debt, there is a very good chance that you are being called and sent letters from creditors demanding payment. These communications don't necessarily happen as soon as you have missed a payment or two, but it can soon seem like every call or letter you receive is from a collections agency.

People in this situation are often very frustrated, stressed out and scared. Collections agents can be very aggressive, unsympathetic, demanding and even rude when they are trying to collect debt, and these tactics can be effective; they can also be unlawful in some cases. If this sounds like a position you are currently in, you should understand a few basic protections that you have when it comes to interactions with creditors.

What is credit counseling, and do I need it?

Filing for bankruptcy protection is not necessarily as simple as filling out a few forms and submitting them to the courts. In fact, there are several steps a person needs to complete before he or she even files bankruptcy-related paperwork.

One of these steps is to complete credit counseling, which, in conjunction with debtor education courses, is required if a person wants to pursue bankruptcy. Knowing what these courses are and what purpose they serve can help you get a better idea of what to expect if you are considering bankruptcy as a means of discharging or repaying debt.