Atlanta Bankruptcy Law Blog

Fearful of foreclosure, more Georgia residents are renting

On behalf of Gingold & Gingold LLC posted in Foreclosure on Tuesday, June 28, 2011.

With the constant reports of falling home prices, predatory lending, and foreclosure fraud, it is not surprising that once and future homeowners in Georgia and throughout the country are choosing to rent apartments or houses instead of buying them. In a new survey of landlords and property managers, about half of respondents reported an increase in rental applicants moving into apartments after losing their home to foreclosure or having their apartment building repossessed.

Continue reading Fearful of foreclosure, more Georgia residents are renting...

Billionaire's ex-wife files for Chapter 7 bankruptcy

On behalf of Gingold & Gingold LLC posted in Chapter 7 on Friday, June 24, 2011.

Anyone who has filed for Chapter 7 or Chapter 13 bankruptcy will sympathize with one couple's reflection on the years leading up their bankruptcy filing: "We spent too much, too fast." While not everyone who files for personal bankruptcy is a millionaire socialite who owns a vineyard, a $100 million mansion, and millions of dollars worth of jewelry, furniture, and antiques, it seems that Patricia Kluge's path to bankruptcy is not entirely different from most filers.

Continue reading Billionaire's ex-wife files for Chapter 7 bankruptcy...

Tags: Chapter 7, bankruptcy, debt, foreclosure

Foreclosure does not end association fees

On behalf of Gingold & Gingold LLC posted in Foreclosure on Tuesday, June 21, 2011.

When Congress passed the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005, the intent was to make it more difficult to file for bankruptcy and to prevent people from taking advantage of the system. However, that new law came with many lesser-known regulations which have proved harmful for Georgia residents who legitimately need bankruptcy to deal with insurmountable debt.

Continue reading Foreclosure does not end association fees...

Tags: association fees, bankruptcy, foreclosure, homeowner

Small business owners are not financially prepared for retirement

On behalf of Gingold & Gingold LLC posted in Bankruptcy on Friday, June 17, 2011.

Throughout the recession, most Americans have focused on the day-to-day: paying their rent or mortgage, car or student loans, medical care; and buying necessities such as groceries and clothing. However, there is growing concern among economists and financial analysts that Americans are not saving enough money for retirement.

Continue reading Small business owners are not financially prepared for retirement...

Tags: Social Security, bankruptcy, retirement, retirement accounts, small business

What happens to employees when their employer goes bankrupt?

On behalf of Gingold & Gingold LLC posted in Bankruptcy on Monday, June 13, 2011.

Throughout the ongoing economic recession, a number of companies in Georgia and throughout the country have become insolvent and have been forced to file for bankruptcy. This has left many employees facing job loss and wondering about what they may be entitled to and what is going to happen next.

Continue reading What happens to employees when their employer goes bankrupt?...

Tags: Worker Adjustment and Retraining Notification Act, bankruptcy, employee, retirement accounts, unemployment

Study: debt has positive impact on young adults' self-esteem (2)

On behalf of Gingold & Gingold LLC posted in Bankruptcy on Thursday, June 9, 2011.

Earlier this week, we wrote about a portion of the National Longitudinal Survey of Youth, which reported a significant surge in self-esteem and empowerment among young adults between the ages of 18 and 34. While this alone is not uncommon, the reason for this boost makes the study results interesting and fairly surprising: the survey questioned young adults about the effects of their credit card and education debt.

Continue reading Study: debt has positive impact on young adults' self-esteem (2)...

Tags: bankruptcy, college graduates, credit card debt, student loan repayment, student loans

Study: debt has positive impact on young adults' self-esteem (1)

On behalf of Gingold & Gingold LLC posted in Bankruptcy on Tuesday, June 7, 2011.

In a surprising new study, researchers found that young adults who are facing significant education and credit card debt actually experience a sense of empowerment from their debt, instead of feelings of stress and worry. Interestingly, these positive feelings were stronger among young adults from low-income backgrounds. Researchers speculate that the self-esteem boost comes from a sense of accomplishment and control over their lives and finances.

Continue reading Study: debt has positive impact on young adults' self-esteem (1)...

Tags: bankruptcy, college graduates, credit card debt, debt, student loans

The requirements of a Chapter 13 bankruptcy filing

On behalf of Gingold & Gingold LLC posted in Chapter 13 on Friday, June 3, 2011.

Despite the decrease in negative stigma surrounding bankruptcy, many people still see it as an easy way out, a way to simply erase debt with no consequences. Well, anyone who has considered or filed for bankruptcy knows that to be completely untrue. For most people, the decision to file for bankruptcy comes after a major event, such as the loss of a job, and the resulting inability to make ends meet. In addition, many people seek Chapter 13 bankruptcy in an effort to save their home and avoid foreclosure.

Continue reading The requirements of a Chapter 13 bankruptcy filing...

Tags: Chapter 13, bankruptcy, creditors, debt

Atlanta bank executives sentenced for foreclosure fraud

On behalf of Gingold & Gingold LLC posted in Foreclosure on Thursday, June 2, 2011.

A few months ago, we wrote that mortgage lenders are becoming more focused on the appearance of bank-owned homes, performing renovations and aesthetic updates in order to move through their ever-increasing supply of foreclosed properties. Now, banks in Georgia and throughout the country are reportedly spending an average of $3,000 per home, replacing windows, refinishing floors, painting the interior and exterior walls, and making other fixes and improvements.

Continue reading Atlanta bank executives sentenced for foreclosure fraud...

Tags: Atlanta, banks, foreclosure, foreclosure fraud, foreclosure sales