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Should You Consider Bankruptcy? Atlanta, GA

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Should You Consider Bankruptcy?

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Debt is an issue that most Americans face each year. While some have manageable debt that they are able to budget payments for and pay off in a decent amount of time, others have insurmountable debt that they see no way out of. It is important that you understand how bankruptcy affects you, your credit, and your future. If you are in debt up to your eyeballs and see know way out, it is time for you to ask yourself if you should consider bankruptcy.

There are four main signs that you should consider bankruptcy:

  • No matter what you do, your debts are not decreasing. If you have been paying on your debts but the balances just will not go down, it is time to consider bankruptcy. In many cases where high interest in involved, only paying minimum payments can actually increase the full amount that you owe. If you are unable to pay more than the minimum payment(s) for your debt and you are getting no where near your final balance, filing for bankruptcy may be the best solution for a clean slate.
  • If you are dipping into your retirement in order to pay off debt, it is probably a good time to consider filing for bankruptcy. Once you begin stealing from yourself, you are doing yourself no good. While it may seem like a short-end solution, paying off debt fast with money that is meant for retirement, is truly only hurting your future. Bankruptcy can often provide the relief that you need now without using precious retirement funds to pay off debts.
  • If you have dependents and your debt is out of control, it is time to consider bankruptcy. Women who are single parents are the most likely victims of bankruptcy. However, filing at an appropriate time instead of waiting until it is a necessary last resort can be a beneficial financial decision. Other people who have children, a disabled spouse, or elderly parents who are dependent on them must also weigh the advantages of bankruptcy. The more people that are dependent on you financially, the greater likelihood that a financial disaster will strike. If you are already facing insurmountable debt, considering bankruptcy can help to protect yourself and those you love.
  • If you are upside down on your home, it is time to consider bankruptcy. It is estimated that 7 million Americans remain underwater on their home mortgages. Bankruptcy is one option for providing relief that homeowners need.

If you are facing insurmountable debt, do not lose hope. Contact Gingold & Gingold, LLC today to schedule an appointment for legal advice. Knowing when it is beneficial to you to file bankruptcy can help protect yourself, your family, and your future.

Posted on behalf of Jamie L. Gingold, PC

195 14th Street NE #1604
Atlanta, GA 30309

Phone: (678) 915-2634


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    Our Client Reviews

    Jamie L. Gingold, PC
    5.0 / 5.0

    Based on 28 reviews

    Jack L.

    They did an excellent job with my case. Jamie took the time to really listen and understand things. She delved into the details and was extremely knowledgeable and non judgmental. Very professional and they know what they are doing. Would definitely recommend!

    Karen B.

    Dear Mr Gingold, There are so many reasons to be thankful for all you have done and will do. Anyone who has ever had unfavorable experiences with an attorney or the legal system will feel the trepidation that I experienced once I realized that my situation seemed hopeless. It was by chance and happily good luck that I decided to put my future and sanity into your hands. I was mortified at having to deal with my debts by claiming bankruptcy. I remember in our first meeting how you assured me that I was not alone and should not feel ashamed. And, anyone in this position obviously does not have money to spare and you were clear about all the costs and allowing me to pay according to my own ability to do so. You advised me in all aspects of the law, but also, you were at each meeting incredibly supportive and complementary of my personal and professional plans. Anyone else in this situation should feel blessed to have access to your expertise and support.

    Lyla B.

    I thought the process of filing bankruptcy was going to be a difficult one. However, Gingold & Gingold treated me with respect and dignity from the moment I walked through their door. I had the pleasure of working with Jamie. She is very responsive, professional, and knowledgeable. She took the time and listened to my every concern and handled each and every one of them to my satisfaction. My experience with filing bankruptcy under Gingold & Gingold's representation exceeded my expectations in a major way. They gave me such a peace of mind. I am very pleased with my decision of going with Gingold & Gingold to represent me when I filed Chapter 13 bankruptcy.

    Julie T.

    Wow! I am finally out of debt and can say that I am debt free after completing my chapter 7 bankruptcy case with Gingold and Gingold. Mr dangled was very knowledgeable and direct with regard to my debt situation. there were no surprises and the case went as I was advised. The staff was also very helpful whenever I had a question. I will definitely recommend them in the future to my friends.

    Julie T.

    I contacted getting old and getting old regarding some old tax debt and credit card debt that I needed to address and had been putting off. miss Irving in the office was very very nice and put me at ease. I met with Jaime Gingold. She was very nice and explained the procedure to me and what would be left owing to the Internal Revenue Service and the State of Georgia after my case was done. My case has now been completed and I am on my way to a new start. Thank you Gingold and Gingold for all of your help.

    Anna T.

    Amazing! Outstanding!! They went over and beyond..I would recommend them to anyone needing a lawyer!!

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