Atlanta Bankruptcy Law Blog

Recession caused wealth gap to widen between races, part two

On behalf of Gingold & Gingold LLC posted in Foreclosure on Thursday, July 28, 2011.

Earlier this week, we looked at startling new U.S. Census Bureau data which reports that the wealth gap between whites and minority groups has significantly widened during the economic recession. This has led to disproportionate rates of unemployment, foreclosure, and other devastating circumstances among members of those groups.

Continue reading Recession caused wealth gap to widen between races, part two...

Tags: foreclosure, housing market, minorities, recession, unemployment

Recession caused wealth gap to widen between races, part one

On behalf of Gingold & Gingold LLC posted in Foreclosure on Tuesday, July 26, 2011.

The ongoing economic recession has caused devastating financial harm to millions of people in Georgia and throughout the country. However, according to recently released data from the U.S. Census Bureau, the recession has had a disproportionately negative effect on certain minority groups, many of whom have been hit hard by the collapse of the housing market, often leading to foreclosure, as well as a persistently high unemployment rate.

Continue reading Recession caused wealth gap to widen between races, part one...

Tags: foreclosure, housing market, minorities, recession, unemployment

Georgia ranks second in the ten worst states for credit

On behalf of Gingold & Gingold LLC posted in Bankruptcy on Friday, July 22, 2011.

With the continuing flood of bankruptcies and foreclosures, many Atlanta families are dealing with the ramifications of a low credit rating. However, many do not realize that these negative effects can go beyond the individual or family and affect the community as a whole. If a city or state has a cumulatively low credit rating, companies will be less likely to do business in the area, with a resulting negative effect on unemployment and quality of life in the state.

Continue reading Georgia ranks second in the ten worst states for credit...

Tags: Georgia, bankruptcy, credit score, foreclosure, unemployment

Robo-signing continues, despite bank assurances

On behalf of Gingold & Gingold LLC posted in Foreclosure on Tuesday, July 19, 2011.

Last fall, several of the United States' largest mortgage lenders halted foreclosures after mass reports of foreclosure fraud. Known as 'robo-signing', attorney generals from Georgia and several other states alleged that mortgage lender employees were falsely signing foreclosure documents in order to more quickly deal with the massive amounts of mortgage paperwork associated with the recession.

Continue reading Robo-signing continues, despite bank assurances...

Tags: foreclosure, foreclosure fraud, homeowner, mortgage lenders, robo-signing

Georgia bankruptcies increase while number drops nationally

On behalf of Gingold & Gingold LLC posted in Bankruptcy on Monday, July 11, 2011.

From May to June of this year bankruptcy filings in Georgia rose by 13 percent. Nationwide the rate of bankruptcy filings actually dropped by more than six percent over the same time period. Of course regional economic factors will always play a role in the number of bankruptcy filings for any given states. Some states saw increases as much as 30 percent.

Continue reading Georgia bankruptcies increase while number drops nationally...

Tags: bankruptcy, credit card debt, debt

Job growth slows in June

On behalf of Gingold & Gingold LLC posted in Bankruptcy on Friday, July 8, 2011.

Last month, job growth stalled dramatically in the United States, leading many analysts to predict that the equally slow growth that was constant throughout the first half of the year was indicative of a mini-recession instead of a mere "blip" in recovery, as many had hoped. This will likely not come as a shock to the Georgia residents who have continued to struggle with unemployment and debt despite the claims of a so-called recovery.

Continue reading Job growth slows in June...

Tags: job growth, recession, unemployment, unemployment rate

Former UGA coach files bankruptcy after investors demand millions

On behalf of Gingold & Gingold LLC posted in Bankruptcy on Wednesday, July 6, 2011.

After becoming involved in an allegedly fraudulent investment scheme, former University of Georgia football coach Jim Donnan and his wife, Mary, have filed for personal bankruptcy in a federal court in Georgia. Although the Donnans are not accused of wrongdoing in connection with the alleged Ponzi scheme, they have been asked to repay more than $8 million to other investors in the scheme. Their inability to pay back such a large amount sparked their bankruptcy filing, although they reportedly also owe several hundred thousand in other debts.

Continue reading Former UGA coach files bankruptcy after investors demand millions...

Tags: Georgia, Ponzi scheme, bankruptcy, debt, investment

Atlanta utility bill increases could lead to bankruptcy

On behalf of Gingold & Gingold LLC posted in Bankruptcy on Friday, July 1, 2011.

If you are in a precarious financial situation, even the smallest unexpected cost could push you over the edge. Whether due to an unplanned medical expense, high gas or food prices, or a late fee on a credit card or other bill, any negligible amount could easily send you directly into deep debt, collections, bankruptcy, eviction, or foreclosure.

Continue reading Atlanta utility bill increases could lead to bankruptcy...

Tags: Atlanta, bankruptcy, utility bills, water