Atlanta Bankruptcy Law Blog

Avoid Garnishment With Student Loan Repayment Options, Part Two

On behalf of Gingold & Gingold LLC posted in Wage Garnishment on Wednesday, December 29, 2010.

Earlier this week, we began a discussion of the many options available for repayment of federal student loans. Although federal loan repayment is generally highly flexible, the consequences of taking no action can be harsh. Wages and federal tax returns can be the subject of garnishment by loan providers, and credit scores will suffer. Because student loans cannot be dismissed through Chapter 7 or Chapter 13 bankruptcy, it is up to the student to find a way to make their payments.

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Tags: bankruptcy, federal student loans, student loan repayment, student loans, wage garnishment

Avoid Garnishment With Student Loan Repayment Options, Part One

On behalf of Gingold & Gingold LLC posted in Wage Garnishment on Monday, December 27, 2010.

A college graduation is a momentous occasion. It marks a major accomplishment, recognizing the completion of a degree as well as several years of hard work. Yet with a bad economy and a difficult job market, many new graduates are unable to enjoy their achievements. For recent college graduates, and for those who graduated in May and who are now entering loan repayment, student loans can be impossible to pay, resulting in wage garnishment, harm to a credit score, and confiscation of federal tax rebates. However, there are many options available to graduates to ensure that they are able to maintain their good standing and to, eventually, repay their student loans.

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Tags: credit record, federal student loans, student loan repayment, student loans, wage garnishment

In Atlanta and Statewide, Unemployment Tops Ten Percent

On behalf of Gingold & Gingold LLC posted in Bankruptcy on Wednesday, December 22, 2010.

The holidays are a difficult time to be unemployed. There are gifts to buy, baking to do, and travels to make, none of which come cheap. For someone who has recently faced the loss of a job, or for those who have been searching for a new job for several months or even years, the strain of the holidays merely adds to the stress of making ends meet, paying bills on time, and avoiding bankruptcy and foreclosure. Yet many Georgia residents are now dealing with unemployment at the holidays: in November, the unemployment rate for metro Atlanta and the state as a whole both jumped above ten percent.

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Tags: Atlanta, Georgia, bankruptcy, foreclosure rates, unemployment

In Georgia Counties, Home Prices and Appraisals Don't Add Up

On behalf of Gingold & Gingold LLC posted in Foreclosure on Monday, December 20, 2010.

Throughout the recession and housing market slump, Georgia has consistently been among the top states in the country for foreclosure. Clearly, this trend affects more than just the individual homeowners who are dealing with the foreclosure of their homes, but also that homeowner's city, county and state as a whole, who now must deal with a decrease in property tax revenue due to a lower home appraisal. Yet some homeowners are still paying an amount representative of more than their property is worth, and it is causing mass frustration throughout the Atlanta metro area and the state.

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Tags: Georgia, appraisals, foreclosure, foreclosure sales, homeowner

Foreclosures Make Up 29% Of All Georgia Home Sales

On behalf of Gingold & Gingold LLC posted in Foreclosure on Thursday, December 16, 2010.

Although the foreclosure controversies of recent months, including allegations of improper and illegal handling of home foreclosure documents, may have slowed down the foreclosure process for many homeowners in default, experts warn that it may also slow the housing market, preventing the recovery that it so sorely needs. "A quick but responsible resolution to that issue would be ideal to help the market continue to properly clear out foreclosure inventory," said James J. Saccacio of RealtyTrac, "and get distressed properties into the hands of qualified buyers and investors who will likely add value to those properties and the neighborhoods they are in."

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Tags: Georgia, foreclosure, foreclosure rates, foreclosure sales, mortgage lenders

Credit Card Use Down in 2010

On behalf of Gingold & Gingold LLC posted in Bankruptcy on Tuesday, December 14, 2010.

When you are already struggling with debt, credit cards may be the only way to pay bills or buy necessities such as food and clothing. However, if credit card use gets out of control, the interest and fees can pile up fast, adding to an already difficult debt situation, and potentially leading to bankruptcy or foreclosure. And as over eight million people in Georgia and throughout the country stopped using credit cards over the past year, many are ensuring that credit cards do not add to their debt problems.

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Tags: bankruptcy, credit card debt, credit record, credt card defaults, debt

Does Facebook Contact Constitute Debt Collector Harassment?

On behalf of Gingold & Gingold LLC posted in Bankruptcy on Friday, December 10, 2010.

Currently, over 500 million people around the world use the social networking site Facebook. For some, it has become one of the only means of communication. Therefore, it seems harmless that a creditor would use the website to contact a debtor who owes money, right? Wrong, according to one such debtor, who has filed a lawsuit against a debt collection firm after a representative allegedly sent messages to the debtor's family members in an effort to get in contact with the debtor. Attorneys and advocates say that this kind of contact from creditors crosses the line, and is a potential violation of privacy and consumer protection laws, as well as the federal Fair Debt Collection Practices Act.

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Tags: Facebook, bankruptcy, debt, debt collector, lawsuit

Americans Increasingly Pessimistic About Housing Market Recovery

On behalf of Gingold & Gingold LLC posted in Foreclosure on Wednesday, December 8, 2010.

It seems that conflicting reports about the state of the United States economy are released on a near-daily basis, with claims that the recession is over, that it will continue to get worse, and everything in between. With so much competing information, many Americans do not know what to believe. According to a recently released survey, however, many Americans have made up their minds despite whatever information is reported. Approximately half of homeowners in Georgia and across the country stated that they would walk away from a mortgage on which they owed more than their home's worth, which would lead to foreclosure and, for many, an inevitable new start.

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Tags: foreclosure, housing market, recession, strategic default, underwater mortgage

Georgia Consumer Bankruptcy Filings Slow in November

On behalf of Gingold & Gingold LLC posted in Chapter 7 on Monday, December 6, 2010.

In Georgia and across the country, the steady increase in Chapter 13 and Chapter 7 bankruptcy filings finally slowed in November for the first time in several months. However, consumer analysts are hesitant to be optimistic about the decrease, as the United States is on track to reach a record high 1.6 million consumer bankruptcy filings in 2010.

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Tags: Chapter 13, Chapter 7, Georgia, bankruptcy, bankruptcy filings