Atlanta Bankruptcy Law Blog

Former baseball player sentenced for bankruptcy fraud

On behalf of Gingold & Gingold LLC posted in Chapter 7 on Monday, December 31, 2012.

Many of our Atlanta bankruptcy blog readers have probably heard the sad story of Lenny Dykstra, the World Series winning-baseball player that recently came into trouble with the law as a result of his alcohol and drug addiction and money troubles. Now, Dykstra has been sentenced to more than six months in prison for allegedly committing bankruptcy fraud. That sentence will be added to the nearly four-year sentence that has already been handed down for theft, assault and other criminal offenses.

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Tags: Chapter 11, Chapter 7, Lenny Dykstra, bankruptcy, bankruptcy fraud

Recovery stalls for Atlanta housing market

On behalf of Gingold & Gingold LLC posted in Foreclosure on Wednesday, December 26, 2012.

When the economic recession hit in 2008, home prices in the Atlanta metro area bottomed out, causing thousands of area homeowners to be saddled with underwater mortgages and forcing many into default or foreclosure. And while the housing markets of many other cities and metro areas have significantly improved in the years since the recession, that has not been the case in Atlanta, where home prices have remained low and mortgages have remained underwater.

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Tags: Atlanta, foreclosure, home prices, housing market, underwater mortgage

Possible expiration of foreclosure law puts renters at risk (2)

On behalf of Gingold & Gingold LLC posted in Foreclosure on Friday, December 21, 2012.

In our last blog post, we wrote about the Protecting Tenants at Foreclosure Act, or PTFA, which is scheduled to expire at the end of 2014 unless Congress takes action to extend it.

Continue reading Possible expiration of foreclosure law puts renters at risk (2)...

Tags: Protecting Tenants at Foreclosure Act, eviction, foreclosure, landlords, renters

Possible expiration of foreclosure law puts renters at risk (1)

On behalf of Gingold & Gingold LLC posted in Foreclosure on Wednesday, December 19, 2012.

Last week, we wrote about a mortgage debt law that will expire at the end of this month unless Congress takes action to extend it. Today, we will discuss another federal housing law that is dangerously near expiration, and could potentially put thousands of Georgia renters at a serious risk of eviction and similar financial harm if it is allowed to expire.

Continue reading Possible expiration of foreclosure law puts renters at risk (1)...

Tags: Protecting Tenants at Foreclosure Act, eviction, foreclosure, landlords, renters

Should you co-sign for a stranger?

On behalf of Gingold & Gingold LLC posted in Bankruptcy on Friday, December 14, 2012.

The ongoing economic slowdown has caused many people in Atlanta and throughout the country to consider options and seek assistance in ways they never thought they would have to. One example of this is co-signers. If you don't have the credit to qualify for a car, personal, business, home or student loan, and you don't have a family member or friend who is willing or able to co-sign for you, what can you do?

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Tags: co-sign, loans, student loans

Pending tax break expiration is driving Georgia short sales

On behalf of Gingold & Gingold LLC posted in Foreclosure on Tuesday, December 11, 2012.

Unless federal lawmakers take action to extend it, the Mortgage Debt Forgiveness Act is scheduled to expire on December 31 of this year. This means that, in a few short weeks, homeowners who sell their homes in a short sale will be forced to pay income tax on the portion of their mortgage debt that is forgiven by the bank. This could amount to several thousand dollars in additional debt for these already-struggling homeowners.

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Tags: foreclosure, foreclosure sales, income tax debt, short sale, taxes

Consumer debt falls while student loan debt continues to rise

On behalf of Gingold & Gingold LLC posted in Bankruptcy on Friday, December 7, 2012.

These days, most reports on consumer spending and debt in the United States contain more good news than bad. Unfortunately, every such report contains one caveat. Although consumer debt and delinquency is down in Georgia and throughout the U.S., there is one form of debt that continues to rise with no end in sight: student loans. And because student loans are not dischargeable in bankruptcy, the number of people who have defaulted on those loans is higher than other forms of debt as well.

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Tags: bankruptcy, consumer spending, debt, student loan debt, student loans

Atlanta woman travels north to save home from foreclosure

On behalf of Gingold & Gingold LLC on Tuesday, December 4, 2012.

If your house has gone into foreclosure, one of the most difficult aspects of that process can be simply figuring out who owns your mortgage, to whom you owe mortgage debt and who you should call to try to work out a solution. Recently, one Atlanta woman was forced to travel all the way up to Minnesota to meet with her mortgage provider, in an attempt to work out a deal that will hopefully allow her to avoid being evicted from her foreclosed home.

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Tags: foreclosure, mortgage, mortgage lenders