Atlanta Bankruptcy Law Blog

Private student loans may soon be dischargeable in bankruptcy

On behalf of Gingold & Gingold LLC posted in Bankruptcy on Tuesday, July 31, 2012.

On our Atlanta bankruptcy blog, we recently wrote a blog post asking a question that many economists and debtors' advocates have asked in recent months: why are student loans still nondischargeable in bankruptcy? But although no one has been able to come up with a good answer, a recent report has prompted a discussion about whether private student loans should be made dischargeable, indicating, at the very least, progress.

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Tags: bankruptcy, student loan debt, student loans

Debunking common bankruptcy myths, part one

On behalf of Gingold & Gingold LLC posted in Bankruptcy on Friday, June 29, 2012.

Although bankruptcy has grown increasingly common in Georgia and across the country, it is still largely misunderstood as a frightening, life-changing, shameful process. Of course, bankruptcy can be intimidating, and it will probably change your life in some way. Shameful, however, it is not: bankruptcy is often the product of a major life event that results in unmanageable debt, and very rarely do filers not make every possible effort to pay that debt before filing for Chapter 7 or Chapter 13.

Continue reading Debunking common bankruptcy myths, part one...

Tags: Chapter 13, Chapter 7, bankruptcy, credit report, credit score

Shelters aim to protect the four-legged victims of foreclosure

On behalf of Gingold & Gingold LLC posted in Foreclosure on Thursday, July 26, 2012.

Regular readers of our Atlanta bankruptcy blog are well aware that, for the past several years now, Georgia has remained among the states with the highest number of mortgage defaults, repossessions and foreclosures. We have previously written about the effects of foreclosure on children and families, but what about the less-discussed victims of the foreclosure process?

Continue reading Shelters aim to protect the four-legged victims of foreclosure...

Tags: foreclosure, foreclosure rates, homeowner, renters

Study: Bankruptcy filings caused drop in credit card debt

On behalf of Gingold & Gingold LLC posted in Bankruptcy on Monday, July 23, 2012.

Recently, the U.S. Federal Reserve released a study containing two pieces of information that seemed to completely contradict one another. First, the study found that the average American family experienced a drop in income and net worth during the recession. But the study also found that credit card debt also fell sharply during that period. So how were American families able to pay down their debt if they were dealing with a significant drop in income and wealth?

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Tags: bankruptcy, credit card debt, debt

Common habits that can hurt your credit score, part two

On behalf of Gingold & Gingold LLC posted in Bankruptcy on Friday, July 20, 2012.

Earlier this week, we began a discussion of the ways that Atlanta readers can unknowingly damage their credit scores, including failing to pay library late fees and parking tickets, and not filling out a change of address form when you move. Today, we will discuss three additional common habits that can harm your credit score and potentially result in long-term financial issues.

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Tags: credit card debt, credit report, credit score

Common habits that can hurt your credit score, part one

On behalf of Gingold & Gingold LLC posted in Bankruptcy on Wednesday, July 18, 2012.

Most of our Atlanta blog readers know how to protect and keep their credit scores high: pay credit card and loan bills on time, don't take out a lot of unnecessary credit and basically just act responsibly in all matters that are money-related.

Continue reading Common habits that can hurt your credit score, part one...

Tags: bankruptcy, credit report, credit score, debt collector

What makes medical bills different from other debt?

On behalf of Gingold & Gingold LLC posted in Bankruptcy on Friday, July 6, 2012.

Last month, we discussed the effects on medical debt on the finances of people in Georgia and throughout the country. Specifically, we detailed various studies and surveys in that earlier bankruptcy blog post, reporting that more than 40 percent of working-age Americans, or 72 million people, have significant medical debt.

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Tags: credit report, credit score, debt collector, medical bills, medical debt

Debunking common bankruptcy myths, part two

On behalf of Gingold & Gingold LLC posted in Bankruptcy on Monday, July 2, 2012.

Last week, we began a discussion of common bankruptcy myths that are prevalent among potential bankruptcy filers in Atlanta and throughout the U.S. Unfortunately, these myths often obscure the true purpose and effect of a personal bankruptcy filing, which is to help people get out of debt and get a fresh financial start. Hopefully, with greater awareness of the bankruptcy process, fewer people will be too intimidated to file.

Continue reading Debunking common bankruptcy myths, part two...

Tags: Chapter 13, Chapter 7, bankruptcy, debt