Atlanta Bankruptcy Law Blog

Should we be able to refinance student loans?

On behalf of Gingold & Gingold LLC posted in Bankruptcy on Tuesday, March 5, 2013.

Student debt has been a major topic of conversation in recent years as the amount of student debt in the nation has become the largest pool of debt in the country. Overtaking even credit card debt, more than 37 million Americans have student debt and many of those borrowers are struggling with delinquency and default.

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Tags: debt relief, interest rates, refinancing, student loan debt

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

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

Student loans may be delaying retirement for many older Americans

On behalf of Gingold & Gingold LLC posted in Bankruptcy on Thursday, November 15, 2012.

We often think of student loan debt as an issue that only affects young people. Unfortunately, that is not the case. According to recent reports, the fastest-growing age group for student loan debt is people over 60. Currently, that group owes a total of $43 billion in student loans, and nearly 10 percent of them are at least 90 days delinquent on their loan debt. To compare, the number of over-60 debtors that were behind on loans in 2005 was just 6 percent.

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Tags: elderly bankruptcy, retirement, student loan debt, student loan repayment, student loans

1 in 5 Georgia households have student debt, study says

On behalf of Gingold & Gingold LLC posted in Bankruptcy on Friday, October 5, 2012.

According to a new study from the Pew Research Center, nearly one out of every five U.S. households had student debt in 2010. This amounts to more than 22 million households in Georgia and across the country, and that number has probably increased in the two years since that data was accumulated.

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Tags: debt, student loan debt, student loans

Average medical school graduate has $183k in student loan debt

On behalf of Gingold & Gingold LLC posted in Bankruptcy on Friday, September 28, 2012.

In a recent survey of medical students in Georgia and across the U.S., the respondents listed the cost of medical education and their resulting student loan debt as the biggest challenge for med students. With an average student debt load of nearly $200,000, this finding is not terribly surprising. That doesn't mean that it is any less taxing on med school graduates, however.

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Tags: bankruptcy, debt, student loan debt, student loan repayment, student loans

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

Student loan bankruptcy bill introduced in Congress

On behalf of Gingold & Gingold LLC posted in Bankruptcy on Wednesday, August 22, 2012.

Last month, we wrote a blog post about the recent efforts to make private student loans dischargeable in bankruptcy. Now, it seems that those efforts may become a reality following the introduction of federal legislation that aims to regulate the private student loan industry and, ultimately, give debtors the ability to discharge those loans in bankruptcy.

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Tags: bankruptcy, student loan debt, student loans

Private student loans may soon be dischargeable in bankruptcy

On behalf of Gingold & Gingold LLC posted in Bankruptcy on Tuesday, July 31, 2012.

On our Atlanta bankruptcy blog, we recently wrote a blog post asking a question that many economists and debtors' advocates have asked in recent months: why are student loans still nondischargeable in bankruptcy? But although no one has been able to come up with a good answer, a recent report has prompted a discussion about whether private student loans should be made dischargeable, indicating, at the very least, progress.

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Tags: bankruptcy, student loan debt, student loans

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

Study: College students lack financial literacy

On behalf of Gingold & Gingold LLC posted in Bankruptcy on Friday, May 4, 2012.

Despite the efforts of the federal government to reduce the availability of credit cards to college students, credit card use has skyrocketed among young people in Gainesville and across the state and country. And according to a recent study, members of this demographic are severely lacking in knowledge about credit cards and the impact of credit card debt on their financial future.

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Tags: college students, credit card debt, debt, student loan debt

Why are student loans still nondischargeable in bankruptcy?

On behalf of Gingold & Gingold LLC posted in Bankruptcy on Friday, April 27, 2012.

In a recent survey of bankruptcy lawyers in Georgia and throughout the U.S., more than 80 percent of respondents stated that they have seen an increase in clients with student loan debt in recent years. However, this growing number of student loan debtors are unlikely to garner any significant relief from the bankruptcy process, due to a federal law that prevents the discharge of student loan debt in bankruptcy.

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Tags: bankruptcy, student loan debt, student loan repayment, student loans