Gingold & Gingold LLC
Getting a Fresh Start
Local: (404) 685-8800 First Free Appointment
Personal Attention & Experience Since 1971 Family-Owned, Family Focused

Atlanta Office Gingold & Gingold LLC 1718 Peachtree St NW #385
Atlanta, GA 30309

Phone: (404) 685-8800
Click here for our
Atlanta location

Cumming Office Gingold & Gingold LLC 327 Dahlonega Street
Suite 1901A
Cumming, GA 30040

Phone: (770) 887-2979
Click here for our
Cumming location

Dallas Office Gingold & Gingold LLC 201 W Memorial Dr
Dallas, GA 30132

Phone: (770) 443-1864
Click here for our
Dallas location

Douglasville Office Gingold & Gingold LLC 6716 E Broad St
Douglasville, GA 30134

Phone: (770) 920-1939
Click here for our
Douglasville location

Duluth Office Gingold & Gingold LLC 3675 Crestwood Pkwy #204
Duluth, GA 30096

Phone: (678) 689-2102
Click here for our
Duluth location

Atlanta Bankruptcy Law Blog

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.

Know your rights and options if you are facing foreclosure

Millions of Americans are struggling financially. People are dealing with unemployment or working in jobs that do not pay enough to cover living expenses; people also owe huge amounts of money in medical bills and student loans. Those who are in this situation often find themselves buried under unmanageable debt.

One of the most serious and immediate concerns these people can have is the possibility of losing their home. When a homeowner cannot keep up with mortgage payments, foreclosure proceedings may be initiated so that the lien holder can sell the property and use the money made from the sale to pay off the mortgage. However, there are ways to stop the foreclosure process.

Will I lose everything by filing bankruptcy?

Mounting debt can mean mounting worries and fears for people across Georgia. One source of this anxiety stems from the fact that many people do not understand what their relief options are and how the different options can achieve different goals. 

For example, people struggling with debt may inaccurately assume that if they file for bankruptcy, they will lose their cars, homes and other assets. The fact is that some people do lose assets when filing bankruptcy. However, state laws allow people, in most cases, to keep their home and car from being repossessed. For people who want to hold on to all their personal property -- including a home and car -- and repay debt instead of wiping it out, Chapter 13 could be the more appropriate route to pursue.

Middle class still struggling with financial tug-of-war

It is no secret that most people in the U.S. struggle with finances and money on a regular basis. Millions of people have battles every month when it comes to paying for what they want and paying for what they need, as many people can't do both. 

According to a recent article in USA Today, it is not just those living in poverty who are having to make enormous sacrifices when it comes to spending. In fact, the author of the article suggests that the majority of Americans -- the middle class -- are unable to pay for things that at one time were all but essential, and this is contributing to the widespread debt problems people are having.

Consumers have rights when debt collectors cross the line

Being in debt is a stressful situation with which millions of Americans find themselves struggling. Even though the economy, employment rates and housing market are showing signs of improvement, the toll that the recession took on many people has lingered on and made it all but impossible to get back on their feet.

Unfortunately, the situation is only made worse by one industry that seems to be booming: debt collection. People who are in debt and unable to keep up with payments often find themselves feeling even more scared and alone when they are repeatedly and aggressively hounded by debt collectors.