Atlanta Bankruptcy Law Blog

Loan modification offer leads to wrongful foreclosure by bank

On behalf of Gingold & Gingold LLC posted in Foreclosure on Tuesday, May 28, 2013.

A bus driver and father of three says that Wells Fargo bank began foreclosure proceedings on his home despite the fact that he was completely up to date on his payment schedule.

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Tags: foreclosure, homeowner

Survey reveals regret among students over loans

On behalf of Gingold & Gingold LLC posted in Chapter 13 on Thursday, May 23, 2013.

A recent survey by Wells Fargo Bank showed a surprising amount of regret among college graduates, many of whom said that they would be in a better financial situation today if they had chosen to go right to work instead of attending college and taking out student loans.

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Tags: credit card debt

Supreme Court clarifies bankruptcy misconduct definition

On behalf of Gingold & Gingold LLC posted in Chapter 7 on Monday, May 20, 2013.

The United States Supreme Court recently weighed in on an issue that has been creating confusion in the bankruptcy courts since the 1841. The meaning of the term "defalcation" has a similar meaning to willful fraud, according to the recent decision about when a debt is eligible or not eligible for discharge in a bankruptcy proceeding.

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Tags: Chapter 7

Avoid tax liens by coming clean

On behalf of Gingold & Gingold LLC posted in Liens on Thursday, May 16, 2013.

When Atlanta residents encounter tough economic times, it can be difficult to find the funds to pay for basic expenses or to stay current on bills. For some, this means figuring how which payments can wait and which cannot and trying to prioritize and pay off the most urgent bills. Many people make the mistake of thinking that taxes are not a particularly urgent bill, believing what they have heard second hand or from a friend that the IRS is slow to react and may never notice a year of a missing income tax return.

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Tags: garnishment, income, wage garnishment

Student debt may be slowing down economic recovery

On behalf of Gingold & Gingold LLC posted in Wage Garnishment on Monday, May 13, 2013.

Federal regulators at the Consumer Financial Protection Bureau are continuing to work on solutions for the growing student debt crisis, which experts say could have a long-term impact on economic growth and the financial health of the country. There is more than $1 trillion in outstanding student loans in the United States, about 15 percent of which is held by private banks. One suggestion in the recent CFPB report is to create a program that allows borrowers to refinance private debt with public loans.

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Tags: wage garnishment

Many home buyers confused about mortgage terms

On behalf of Gingold & Gingold LLC posted in Foreclosure on Friday, May 10, 2013.

A recent survey by the popular real estate site Zillow found that about one-third of the time, homebuyers have incorrect information about how to choose a mortgage and what the different terms or a mortgage agreement are. For example, many people don't know that APR stands for annual percentage rate. Another example is the availability of mortgages with varying levels of down payments. 31 percent of people buying homes are under the false impression that it is impossible to get a mortgage that requires a down-payment of less than five percent.

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Tags: foreclosure, homeowner

Banks under fire for loan modification failures

On behalf of Gingold & Gingold LLC posted in Foreclosure on Tuesday, May 7, 2013.

A state-level Attorney General is says he will file a lawsuit against the nation's largest and most powerful banks if they do not come into compliance with the recent settlement agreement over unfair foreclosure practices.

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Tags: foreclosure, homeowner