Atlanta Bankruptcy Law Blog

Bankruptcy Can Affect Mental Health

On behalf of Gingold & Gingold LLC posted in Chapter 13 on Wednesday, October 27, 2010.

Most of us are familiar with the feelings that come with financial struggles: stress, frustration, anxiety, and humiliation, to name a few. It makes sense that these emotions are more intense and difficult to overcome with a Chapter 7 or Chapter 13 bankruptcy filing, and experts say they can have serious ramifications.

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Tags: Chapter 13, Chapter 7, bankruptcy, debt, mental health

Mortgage Lenders Prefer Foreclosure to Short Sales

On behalf of Gingold & Gingold LLC posted in Foreclosure on Monday, October 25, 2010.

When a home goes into foreclosure, the homeowner is not the only party that loses money. The mortgage lender also takes a financial hit, albeit one that is much less damaging. A short sale, in which an owner sells his home for less than what he owes on it, could lessen the blow to lenders by several thousands of dollars. Historically, however, banks are highly resistant to such sales.

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Tags: foreclosure, mortgage lenders, mortgage modification, short sale, short sale fraud

Americans Spend Less for the First Time in 25 Years

On behalf of Gingold & Gingold LLC posted in Bankruptcy on Friday, October 22, 2010.

Although the recession began several years ago, the nation's collective financial problems did not seem to affect Americans' everyday consumer spending, which continued to increase annually throughout the first years of the recession. However, that changed last year, according to the Consumer Expenditure Survey recently released by the U.S. Bureau of Labor Statistics. In 2009, average annual expenditures per consumer fell 2.8 percent, marking the first drop in spending from the previous year since the survey began publishing data in 1984.

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Tags: bankruptcy, consumer spending, debt, recession, Georgia

Georgia Foreclosures Remain Halted As Lenders Resume Seizures

On behalf of Gingold & Gingold LLC posted in Foreclosure on Tuesday, October 19, 2010.

We wrote last week about the nationwide investigation into "robo-signing" and other illegal foreclosure practices and the resulting voluntary foreclosure freeze put into place by lenders. This week, Bank of America announced plans to restart the foreclosure process in the 23 states that require judicial approval for foreclosures. As Georgia is not one of those states, local homeowners will not be immediately affected by the news.

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Tags: Bank of America, GMAC, Georgia, foreclosure, robo-signing

More Georgia Seniors Filing for Bankruptcy

On behalf of Gingold & Gingold LLC posted in Chapter 13 on Friday, October 15, 2010.

Most of us envision our retirement years as something of an adventure - a time to travel, take up hobbies, and enjoy our stress-free golden years with friends and family. Yet according to a new study, today's seniors may not have the financial resources to fulfill those dreams. The elderly population is filing for Chapter 7 and Chapter 13 bankruptcy in record numbers, and credit card debt is often the culprit.

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Tags: Chapter 13, Chapter 7, credit card debt, creditors, elderly bankruptcy

Georgia Joins Nationwide Foreclosure Investigation

On behalf of Gingold & Gingold LLC posted in Foreclosure on Wednesday, October 13, 2010.

After several large mortgage lenders halted foreclosure auctions and evictions after widespread claims of illegal foreclosure practices, Georgia is joining with several other states in an investigation of the allegations.

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Tags: Bank of America, Georgia, foreclosure, mortgage lenders, robo-signing

Private Student Loans May Soon Be Dischargeable in Bankruptcy

On behalf of Gingold & Gingold LLC posted in Bankruptcy on Friday, October 8, 2010.

A bill making its way through the U.S. House of Representatives would allow private student loans to be discharged in bankruptcy, reversing an earlier law that made student debt essentially non-dischargeable.

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Tags: Chapter 13, Chapter 7, Private Student Loan Bankruptcy Fairness Act, debt, student loans

"5th Grader" Winnings May Go To Creditors, Not Schools

On behalf of Gingold & Gingold LLC posted in Chapter 7 on Wednesday, October 6, 2010.

A former contestant on "Are You Smarter Than a Fifth Grader", who has since filed for Chapter 7 bankruptcy protection, says that she went on the show to play for Georgia schools, not for her own personal gain.

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Tags: Are You Smarter Than a Fifth Grader, Georgia, bankruptcy, creditors, schools