Atlanta Bankruptcy Law Blog

Pong and Centipede creators file for bankruptcy

On behalf of Gingold & Gingold LLC posted in Chapter 7 on Wednesday, January 30, 2013.

If you are a fan of Atari, you may want to break out the tissue box for the tears you are about to shed. It appears that the tough economic times have hit the creators of Pong hard and they are having trouble recovering. On a good note, they are learning to adapt.

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Tags: Chapter 11, Chapter 7, High Income and Business Bankruptcies, bankruptcy

Bankruptcy offers protection from lawsuits

On behalf of Gingold & Gingold LLC posted in Bankruptcy on Monday, January 28, 2013.

As some Atlanta readers already know, bankruptcy can offer protection from civil lawsuits. A recent bankruptcy filing by former criminal defendant Casey Anthony will likely take advantage of that benefit, since Ms. Anthony remains the subject of some current and possible civil lawsuits related to the criminal charges that she was acquitted of in 2011.

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Tags: automatic stay, bankruptcy, lawsuit

Loan modification assistance scams target distressed homeowners

On behalf of Gingold & Gingold LLC posted in Foreclosure on Friday, January 25, 2013.

Homeowners who are no longer able to afford their mortgage payments are often faced with a difficult choice between foreclosure, short sales, or attempting a loan modification. For families who want to stay in their homes, loan modifications are often the best option, but many people need help to secure a modification that will actually benefit them.

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Tags: foreclosure, fraud, loan modifications

Study finds young people likely to carry debt into old age

On behalf of Gingold & Gingold LLC posted in Bankruptcy on Wednesday, January 23, 2013.

A recent study found that people who are currently in their late 20s and early 30s are likely to carry debt for a longer amount of time and more consistently throughout their lives than older generations. In fact, the study found that based on borrowing and payment trends, many people know in that age group are on track to have debt into their 70s.

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Tags: bankruptcy, consumer spending, credit card debt, loan modications

New consumer protection rules help prevent foreclosure

On behalf of Gingold & Gingold LLC posted in Foreclosure on Friday, January 18, 2013.

Mortgage servicers have until January of 2014 to come into compliance with some bold new consumer protection rules. The new regulations come courtesy of the Consumer Financial Protection Bureau, a new agency that regulates the banking industry on behalf of the average borrower.

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Tags: Consumer Financial Protection Bureau, debt collector, foreclosure, mortgage servicer

Bank settlement offers partial relief for some wronged borrowers

On behalf of Gingold & Gingold LLC posted in Foreclosure on Tuesday, January 15, 2013.

Federal regulators announced a deal worth approximately $8.5 billion in a settlement with ten different banks which promises justice for borrowers who were wronged by careless foreclosure practices. The deal may offer relief for many homeowners who were unfairly foreclosed upon by the banks, but some worry that the hasty conclusion of a partial review of the records by government regulators means that the sum will be insufficient to remedy the full scope of the damage.

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Tags: bank misconduct, distressed homeowners, foreclosure fraud, loan modications

Will Congress finally tackle student loan debt?

On behalf of Gingold & Gingold LLC posted in Bankruptcy on Friday, January 11, 2013.

We have written about the mounting problem of student loan debt on our Atlanta bankruptcy blog on multiple occasions, detailing the many issues that are having serious effects on borrowers in Georgia and throughout the country. In those posts, we have bemoaned the lack of a federal response to the growing student debt load and the inability of borrowers to pay off their debt. However, that may be changing in the near future.

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Tags: debt, interest rates, student loan debt, student loan repayment, student loans

Georgia's bankruptcy rate rises above national average

On behalf of Gingold & Gingold LLC posted in Bankruptcy on Thursday, January 10, 2013.

While a majority of states are reporting a drop in the number of bankruptcies filed, Georgia's rate continues to grow; now showing that the state is 70 percent above the national average.

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Tags: Georgia, bankruptcy filings, bankruptcy rates, financial security