Atlanta Bankruptcy Law Blog

Former Georgia coach reaches bankruptcy deal

On behalf of Gingold & Gingold LLC posted in Bankruptcy on Wednesday, June 27, 2012.

The former football coach for the University of Georgia has reportedly agreed to a bankruptcy settlement with a retail liquidation company and several of its former investors who are accusing the coach of illegally profiting off of a Ponzi scheme. Under the agreement, Jim Donnan will pay nearly $30 million to both the company and its investors.

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Tags: Georgia, Ponzi scheme, bankruptcy

Illegal debt collectors launch operations overseas

On behalf of Gingold & Gingold LLC posted in Bankruptcy on Thursday, June 21, 2012.

If you are deep in debt and unable to pay your bills, the ring of your telephone may be a truly frightening sound. That is because you know, when you pick up the phone, there will be a person on the other end demanding that you pay your bills. It doesn't matter whether you are dealing with an abusive debt collector or an understanding company representative. When you don't have the money to pay your bills, being confronted about them can be a stressful, humiliating experience.

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Tags: abusive debt collector, bankruptcy, debt, debt collector

Medical bills drive Georgia residents to bankruptcy

On behalf of Gingold & Gingold LLC posted in Bankruptcy on Tuesday, June 19, 2012.

Many of our Atlanta blog readers assume that, if they have health insurance coverage, they will not incur significant medical debt if they fall ill or become injured. Unfortunately, that is not the case. Even if you have health insurance, you will probably still find yourself paying high out-of-pocket costs for co-pays, deductibles, medications and other expenses that are not covered by your insurance.

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Tags: bankruptcy, insurance, medical bills, medical debt

Foreclosures are turning homeowners into renters

On behalf of Gingold & Gingold LLC posted in Foreclosure on Wednesday, June 13, 2012.

For many decades, homeownership has been an essential component of the "American Dream." But now, with so many underwater mortgages, repossessions and foreclosures forcing homeowners from their homes, families in Douglasville and throughout the state and country are giving up on that particular aspiration and choosing to rent instead.

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Tags: foreclosure, home prices, homeowner, renters, underwater mortgage

Despite national five-year low, Atlanta foreclosures increase (2)

On behalf of Gingold & Gingold LLC posted in Foreclosure on Friday, June 8, 2012.

Earlier this week, we wrote about the new report which stated that the national foreclosure rate has dropped to a five-year low. As previously discussed, that initial report of a falling foreclosure rate does not paint a complete picture of the situation in states like Georgia, where foreclosures have increased year-over-year.

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Tags: Georgia, foreclosure, foreclosure rates, short sale

Despite national five-year low, Atlanta foreclosures increase (1)

On behalf of Gingold & Gingold LLC posted in Foreclosure on Wednesday, June 6, 2012.

U.S. foreclosures recently fell to their lowest level since July of 2007, hitting a nearly five-year low. However, this seemingly-positive announcement is not as straightforward as it seems, as shown by a closer examination of the data. While foreclosure rates declined in several of the "hardest-hit" states, Georgia is just one of many states that saw a year-over-year increase in foreclosures.

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Tags: Atlanta, Georgia, foreclosure, foreclosure rates, repossessions

College dropouts struggle with student debt

On behalf of Gingold & Gingold LLC posted in Bankruptcy on Friday, June 1, 2012.

In the past ten years, the college enrollment rate has increased by nearly 40 percent. However, what was previously considered to be a logical, if not necessary next step after high school is now being looked at more closely, with the jump in student debt and the lack of jobs for new graduates.

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Tags: college graduates, college students, debt, student loan debt, student loans