Atlanta Bankruptcy Law Blog

Payments to borrowers to begin in foreclosure settlement

On behalf of Gingold & Gingold LLC posted in Foreclosure on Thursday, February 28, 2013.

Federal Officials have released information that they will begin distributing payments to borrowers who were wronged by the nation's 13 largest banks during the housing crisis. Payments will being in April of this year and will be distributed among those who qualify under 11 different categories.

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Tags: bank misconduct, foreclosure, loan modifications

Horror stories involving outrageous debt collection practices

On behalf of Gingold & Gingold LLC posted in Bankruptcy on Thursday, February 21, 2013.

Many Georgia residents can relate to having been harassed by a bill collector at one time or another. Although there are numerous protections under the Fair Debt Collection Practices Act as well as state laws that specifically prohibit abusive and threatening behavior by debt collectors, many of them still employ these tactics when attempting to collect on a debt. Some of the tactics include threats of violence, using obscenities, incessant telephone calls and claims by the caller that he or she is an attorney.

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Tags: Fair Debt Collection Practices Act, abusive debt collector, bankruptcy, debt collector

Georgia resident's Chapter 7 bankruptcy discharges $400k in debt

On behalf of Gingold & Gingold LLC posted in Bankruptcy on Tuesday, February 19, 2013.

Earlier this month, a former chief of staff for an out-of-state big city mayor was allowed to discharge more than $400,000 in debts. This former mayoral staff member filed for Chapter 7 bankruptcy in Georgia where she moved following a scandal that resulted in her pleading guilty to felony obstruction of justice charges after a newspaper published text messages which indicated she had indeed lied under oath in a court trial involving her former boss, Kwame Kilpatrick. Although the judge in the bankruptcy court approved the discharge of almost $400,000 in debt, she was not able to discharge back taxes she owes to the IRS or the restitution she agreed to pay the city of Detroit after pleading guilty to the obstruction charges. Certain debts, such as taxes, court judgments or criminal or civil restitution or even the majority of student loans are not dischargeable in bankruptcy. Student loans currently may be discharged but only under extreme long-term demonstrated hardship cases.

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Tags: Chapter 7, bankruptcy, bankruptcy filings

Atlanta foreclosures reach lowest level since recession

On behalf of Gingold & Gingold LLC posted in Foreclosure on Thursday, February 14, 2013.

It's easy to focus on the negative news about the housing market and the economic recovery here in Atlanta and around the country. Atlanta homeowners still have a long way to go before the city is out of the financial state that resulted from the recession, but the good news is that statistically speaking, the city has made a lot of progress.

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Tags: foreclosure rates, housing market, recession

Georgia bankruptcy lawyers warn against debt settlement companies

On behalf of Gingold & Gingold LLC posted in Bankruptcy on Tuesday, November 13, 2012.

When you are deep in debt with no foreseeable way of getting back on solid ground, you may be desperate for any relief from your financial situation. This is why many people who are seeking debt relief see debt settlement companies as a good way - or perhaps the only way - to get back on their feet.

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Tags: bankruptcy, debt, debt settlement

Debt collectors using Facebook to harass borrowers

On behalf of Gingold & Gingold LLC posted in Bankruptcy on Tuesday, February 12, 2013.

Atlanta readers may not be surprised to see that aggressive debt collectors have found a new way to pursue overdue borrowers, now intruding into every communication platform they can find and employing social media sites like Facebook and Twitter.

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Tags: Facebook, bankruptcy, creditor harassment, creditors, debt collector

Former NBA star's Atlanta home auctioned in foreclosure action

On behalf of Gingold & Gingold LLC posted in Foreclosure on Friday, February 8, 2013.

Former NBA star Alan Iverson's home in Atlanta, Georgia, was auctioned recently as a part of a foreclosure action by a bank that Iverson owed an estimated $1.2 million to on the mortgage.

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Tags: Atlanta, divorce, foreclosure sales, professional athletes

Investors allege self-dealing in mortgage modifications

On behalf of Gingold & Gingold LLC posted in Foreclosure on Tuesday, February 5, 2013.

In our last post we discussed the settlement between government regulators and mortgage servicing companies that will compensate borrowers for faulty foreclosure practices. Many readers may be aware that this is not the only legal battle raging over bank conduct before and during the housing bubble burst, and in fact many major banks are also facing scrutiny over their lending practices which arguably lead to the housing bubble.

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Tags: bank misconduct, foreclosure, loan modifications, mortgage-backed securities

Lawmakers push bank regulators to transparency about settlement

On behalf of Gingold & Gingold LLC posted in Foreclosure on Friday, February 1, 2013.

Senator Elizabeth Warren and Representative Elijah Cummings wrote a letter to bank regulators this week asking for transparency and accountability about how the government reached a settlement agreement with the nation's 13 largest mortgage servicing companies.

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Tags: bank misconduct, foreclosure, foreclosure fraud