Atlanta Bankruptcy Law Blog

Can you file for bankruptcy while living at home?

On behalf of Gingold & Gingold LLC posted in Bankruptcy on Friday, September 21, 2012.

In the years during and since the economic recession, many recent college graduates and other Atlanta young people have found themselves somewhere they likely never thought they would be: back at home, living with their parents. Several factors are behind the recent trend of twenty- and thirty-somethings living at home, namely a high unemployment rate and increasing student loan burdens.

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Tags: bankruptcy, college graduates, debt, student loan debt, unemployment

College dropouts struggle with student debt

On behalf of Gingold & Gingold LLC posted in Bankruptcy on Friday, June 1, 2012.

In the past ten years, the college enrollment rate has increased by nearly 40 percent. However, what was previously considered to be a logical, if not necessary next step after high school is now being looked at more closely, with the jump in student debt and the lack of jobs for new graduates.

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Tags: college graduates, college students, debt, student loan debt, student loans

Unemployment and debt force young adults to live with parents

On behalf of Gingold & Gingold LLC posted in Bankruptcy on Tuesday, November 8, 2011.

College graduation is supposed to be an exciting time, as students celebrate their accomplishments and look forward to the life and career ahead of them. However, as the economy continues to struggle, many young adults in Georgia and throughout the country are finding out that their college graduation may not be the beginning of a successful, prosperous life, after all.

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Tags: bankruptcy, college graduates, housing market, student loans, unemployment

Bankruptcy increases among college graduates

On behalf of Gingold & Gingold LLC posted in Bankruptcy on Monday, September 26, 2011.

Although bankruptcy has become more common in Georgia and throughout the United States, there are still several common misconceptions about bankruptcy and the people who file for it. Many believe that the only people who need the protections of bankruptcy are those who are unemployed or living in poverty. But according to a new study, that is not the case.

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Tags: bankruptcy, college graduates, unemployment

Study: Bankruptcy rises among those with college degrees and jobs

On behalf of Gingold & Gingold LLC posted in Bankruptcy on Friday, September 16, 2011.

The recession has hit most sectors of society extremely hard, and that fact is showing up in the profiles of those filing for bankruptcy, according to a recent study by the nonprofit Institute for Financial Literacy. While the unemployed and those with less education continue to be among the most likely to have serious financial problems, the number of bankruptcy filings among people with college degrees and those with relatively high-paying jobs has risen dramatically. The study also found that being married, which has traditionally been one factor that keeps people financially stable, no longer has the protective effect it once did.

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Tags: bankruptcy, bankruptcy filings, college graduates, economy, recession, student loans

Study: debt has positive impact on young adults' self-esteem (2)

On behalf of Gingold & Gingold LLC posted in Bankruptcy on Thursday, June 9, 2011.

Earlier this week, we wrote about a portion of the National Longitudinal Survey of Youth, which reported a significant surge in self-esteem and empowerment among young adults between the ages of 18 and 34. While this alone is not uncommon, the reason for this boost makes the study results interesting and fairly surprising: the survey questioned young adults about the effects of their credit card and education debt.

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Tags: bankruptcy, college graduates, credit card debt, student loan repayment, student loans

Study: debt has positive impact on young adults' self-esteem (1)

On behalf of Gingold & Gingold LLC posted in Bankruptcy on Tuesday, June 7, 2011.

In a surprising new study, researchers found that young adults who are facing significant education and credit card debt actually experience a sense of empowerment from their debt, instead of feelings of stress and worry. Interestingly, these positive feelings were stronger among young adults from low-income backgrounds. Researchers speculate that the self-esteem boost comes from a sense of accomplishment and control over their lives and finances.

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Tags: bankruptcy, college graduates, credit card debt, debt, student loans

Most Georgia parents support adult children financially, part two

On behalf of Gingold & Gingold LLC posted in Bankruptcy on Thursday, May 26, 2011.

As we discussed earlier this week, approximately 60 percent of parents now provide financial support for their adult children. Certainly, college graduates and other twenty- and thirty-something adults face unique difficulties in this economy, with a dismal job market and increasing student loan debts. However, financial experts have expressed concerns that this practice could end up harming both parents and children in the long run.

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Tags: bankruptcy, college graduates, economy, retirement accounts, student loans

Most Georgia parents support adult children financially, part one

On behalf of Gingold & Gingold LLC posted in Bankruptcy on Monday, May 23, 2011.

Last week, we wrote that college graduates are one of the fastest-growing groups of bankruptcy filers in the United States. Due largely to the struggling job market, mounting college costs and student loan bills, and high credit card use among young people, college grads now make up 55 percent of bankruptcy filers in the U.S.

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Tags: bankruptcy, college graduates, credit card debt, student loans, unemployment

College grads are increasingly likely to file for bankruptcy

On behalf of Gingold & Gingold LLC posted in Bankruptcy on Thursday, May 19, 2011.

Despite the financial and employment benefits that typically come with a college degree, recent statistics report that college graduates now make up approximately 55 percent of bankruptcy filers in the United States. Therefore, this means that those who complete more years of schooling are now at a higher risk for bankruptcy, despite having average salaries that are over 100 percent higher than individuals who do not earn college degrees.

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Tags: Chapter 13, bankruptcy, college graduates, credit card debt, student loans