Atlanta Bankruptcy Law Blog

Should you convert your bankruptcy from Chapter 13 to Chapter 7?

On behalf of Gingold & Gingold LLC posted in Chapter 13 on Thursday, September 29, 2011.

If you are contemplating filing for bankruptcy, one key decision you will have to make is whether to file for Chapter 7 or Chapter 13 bankruptcy. Usually, this choice is not too difficult - if you are in deep debt and have no ability to pay any of your bills, Chapter 7 is probably the best choice. If you are able to pay some of your debts and want to maintain ownership of your home or another asset, Chapter 13 may be right for you.

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Tags: Chapter 13, Chapter 7, bankruptcy

Bankruptcy increases among college graduates

On behalf of Gingold & Gingold LLC posted in Bankruptcy on Monday, September 26, 2011.

Although bankruptcy has become more common in Georgia and throughout the United States, there are still several common misconceptions about bankruptcy and the people who file for it. Many believe that the only people who need the protections of bankruptcy are those who are unemployed or living in poverty. But according to a new study, that is not the case.

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Tags: bankruptcy, college graduates, unemployment

Credit card debt increased in second quarter

On behalf of Gingold & Gingold LLC posted in Chapter 7 on Thursday, September 22, 2011.

Recently, the U.S. Federal Reserve reported that consumer credit card debt decreased in July. However, that report also contained less positive news: the second quarter of 2011 saw a significant increase in credit card debt in the United States. At the current spending rate, it is projected that 2011 will end with over $50 billion more in credit card debt than when the year began.

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Tags: Chapter 7, bankruptcy, credit card debt

Mortgage default notices increase in August

On behalf of Gingold & Gingold LLC posted in Foreclosure on Tuesday, September 20, 2011.

Nearly a year after the massive robo-signing scandal and the resulting foreclosure slowdown, it appears that banks are pressing forward with their foreclosure processes at an increasingly fast rate. According to foreclosure listing firm RealtyTrac Inc., the number of homes that received an initial default notice rose significantly last month, reaching a nine-month high.

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Tags: foreclosure, housing market, mortgage, robo-signing

Study: Bankruptcy rises among those with college degrees and jobs

On behalf of Gingold & Gingold LLC posted in Bankruptcy on Friday, September 16, 2011.

The recession has hit most sectors of society extremely hard, and that fact is showing up in the profiles of those filing for bankruptcy, according to a recent study by the nonprofit Institute for Financial Literacy. While the unemployed and those with less education continue to be among the most likely to have serious financial problems, the number of bankruptcy filings among people with college degrees and those with relatively high-paying jobs has risen dramatically. The study also found that being married, which has traditionally been one factor that keeps people financially stable, no longer has the protective effect it once did.

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Tags: bankruptcy, bankruptcy filings, college graduates, economy, recession, student loans

Employers increase job postings

On behalf of Gingold & Gingold LLC posted in Bankruptcy on Friday, September 9, 2011.

In an uncommon piece of good news regarding the job market, the U.S. Department of Labor is reporting that July saw an increase in job postings and a decline in layoffs. However, economic analysts are hesitant to declare that unemployment, and its common consequences such as foreclosure and bankruptcy, are on the downswing.

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Tags: job growth, unemployment, unemployment rate

Toni Braxton's debts discharged in bankruptcy court

On behalf of Gingold & Gingold LLC posted in Chapter 7 on Tuesday, September 6, 2011.

Several months ago, we wrote about Toni Braxton's ongoing bankruptcy proceedings, during which a bankruptcy judge ordered that the singer's Georgia home go into foreclosure. Now, however, it appears that Braxton's Chapter 7 bankruptcy case will have a more positive ending. Recently, Braxton was awarded a discharge of several of her debts, which will allow her to have a fresh start.

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Tags: Chapter 7, Toni Braxton, bankruptcy, debt, foreclosure

Medical debt is a growing cause of bankruptcy

On behalf of Gingold & Gingold LLC posted in Bankruptcy on Friday, September 2, 2011.

As unemployment persists in Georgia and throughout much of the United States, millions of people are now dealing with the long-term loss of their health insurance. Although the federal COBRA program allows the newly unemployed to continue receiving health care coverage, those premiums are often too high for those without a steady income. And as health care costs continue to rise, even people who are employed are having trouble paying higher insurance premiums and deductibles.

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Tags: bankruptcy, credit card debt, medical bills, medical debt