Atlanta Bankruptcy Law Blog

May 2012

Extended unemployment benefits to be cut in several states

On behalf of Gingold & Gingold LLC posted in Bankruptcy on Tuesday, May 29, 2012.

In the next couple of months, more than 115,000 Americans will lose their extended unemployment benefits under a new federal law that forbids states with steady or falling unemployment rates from issuing extended benefits to their residents. With those additional cuts, the number of people who have lost their extended benefits so far this year will total more than 500,000.

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Tags: unemployment, unemployment rate

Study: Half of U.S. households carry medical debt on credit cards

On behalf of Gingold & Gingold LLC posted in Bankruptcy on Friday, May 25, 2012.

In a recent survey of nearly 1,000 adults across the country, researchers found that credit card debt has declined, and that people are paying fewer late fees and generally using credit cards more responsibly. But the survey also revealed a problem that is indicative of a much larger issue in Douglasville and throughout the U.S.: nearly half of U.S. households carry debt from out-of-pocket medical expenses on their credit cards.

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Tags: CARD Act, credit card debt, debt, medical bills, medical debt

Is the cost of bankruptcy preventing Georgians from filing?

On behalf of Gingold & Gingold LLC posted in Chapter 7 on Tuesday, May 22, 2012.

When someone makes the difficult decision to file for Chapter 7 or Chapter 13 bankruptcy, they are likely at the end of their financial rope, drowning in debt with little available income to pay their bills. However, when that person begins the bankruptcy process, he or she will likely be met with the unfortunate truth: bankruptcy is expensive.

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Tags: Bankruptcy Abuse Prevention and Consumer Protection Act, Chapter 7, bankruptcy

Federal benefits are not eligible for garnishment

On behalf of Gingold & Gingold LLC posted in Wage Garnishment on Saturday, May 19, 2012.

About a year ago, a new law went into effect which protects federal benefits from attempts at garnishment by credit card companies and other creditors. While this law is extremely helpful for Georgia residents that receive veterans' or Social Security benefits, it comes with a fairly long list of qualifiers and requirements. As such, it is important to understand the law's fine print in order to avoid an unexpected garnishment.

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Tags: Social Security, bank garnishment, federal benefits, garnishment, wage garnishment

Court dismisses Octomom's bankruptcy petition

On behalf of Gingold & Gingold LLC posted in Chapter 7 on Wednesday, May 16, 2012.

Just last week, we wrote about the personal bankruptcy filing of Nadya Suleman, the woman who gained notoriety (as well as the unfortunate nickname of 'Octomom') after giving birth to octuplets in 2009. Now, it appears that Suleman's Chapter 7 bankruptcy petition has been dismissed after the mother of 14 reportedly failed to file required documents with the bankruptcy court overseeing her case.

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Tags: Chapter 7, bankruptcy, bankruptcy filings, foreclosure, foreclosure sales

Music stars who have filed for bankruptcy

On behalf of Gingold & Gingold LLC posted in Bankruptcy on Monday, May 14, 2012.

If you're dealing with debt, you have probably had this thought: "If only I had more money, all of my debt problems would disappear." However, as evidenced by the many movie stars, professional athletes and musicians who have filed for bankruptcy, that is not necessarily the case.

Continue reading Music stars who have filed for bankruptcy...

Tags: bankruptcy, debt, divorce

Rebuilding your credit after bankruptcy

On behalf of Gingold & Gingold LLC posted in Chapter 7 on Friday, May 11, 2012.

One of the most common reasons that Georgia residents resist filing for bankruptcy is the fear of what such a filing will do to their credit score. And that fear is not unfounded: bankruptcy generally causes your credit to drop, especially if it is a Chapter 7 filing which involves the discharge of your unsecured debts.

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Octomom files for Chapter 7 bankruptcy

On behalf of Gingold & Gingold LLC posted in Chapter 7 on Tuesday, May 8, 2012.

Nadya Suleman, the woman who became famous after she gave eight additional siblings to her six children by having octuplets in 2009, has reportedly filed for bankruptcy.

Continue reading Octomom files for Chapter 7 bankruptcy...

Tags: Chapter 7, bankruptcy, debt, foreclosure, trustee

Study: College students lack financial literacy

On behalf of Gingold & Gingold LLC posted in Bankruptcy on Friday, May 4, 2012.

Despite the efforts of the federal government to reduce the availability of credit cards to college students, credit card use has skyrocketed among young people in Gainesville and across the state and country. And according to a recent study, members of this demographic are severely lacking in knowledge about credit cards and the impact of credit card debt on their financial future.

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Tags: college students, credit card debt, debt, student loan debt

Federal judge files for Chapter 7 bankruptcy

On behalf of Gingold & Gingold LLC posted in Chapter 7 on Wednesday, May 2, 2012.

In news reports and even on our Atlanta bankruptcy blog, it often seems that the only people who file for bankruptcy or let their home go into foreclosure are people who are in relative poverty or are dealing with the loss of a job, medical expenses or some other costly circumstance. However, that is not the case. The economy has had a negative impact on people with a wide range of financial means, from the entry-level office worker who is laid off during downsizing to a federal judge who can no longer keep up with his mounting debt.

Continue reading Federal judge files for Chapter 7 bankruptcy...

Tags: Chapter 7, bankruptcy, debt, mortgage