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Types of Debt Atlanta, GA

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Types Of Debt

Understanding How Different Debts Are Handled In Bankruptcy

There are many types of debt that can drive people into bankruptcy, and each type must be handled differently when filing bankruptcy. The guidance of an experienced bankruptcy lawyer is needed to make sure you are taking the right steps to deal with your specific debts.

At Gingold & Gingold LLC, our attorneys — Ira D. Gingold, who has been a bankruptcy lawyer since 1971 and Court-appointed Bankruptcy Trustee from 1971-2013, and Jamie L. Gingold, who has practiced bankruptcy, business and real estate law in Georgia since 2001 — have the experience to help clients find solutions to problems with all types of debt, from credit cards to mortgage loans.

Helping Clients With Different Types Of Debts

Debts fall into two general categories: secured debts, which are backed by property that can be taken by the lender if you do not make your loan payments, and unsecured debts, which are not backed by any assets. Some of the most common types of debt that cause people in Georgia to file bankruptcy include:

  • Credit card debts : Credit card balances are unsecured debts. They can be wiped out permanently in Chapter 7 bankruptcy and reduced or eliminated in Chapter 13.
  • Medical bills : Many bankruptcies are the result of medical debts, either directly or through medical expenses that were paid on credit cards. Medical bills are also unsecured debts.
  • Student loans : Student loans are unsecured debts but are hard to wipe out in bankruptcy. However, filing bankruptcy can help many people manage their student loans.
  • Tax debts : Unpaid taxes can also be unsecured debts, but only old or “stale” tax debts can be wiped out in bankruptcy. However, back taxes can be paid in a Chapter 13 voluntary court repayment plan.
  • Home loans: A mortgage or home equity loan is a secured debt. Bankruptcy offers several options for people who have fallen behind on their home loans to avoid foreclosure.
  • Auto loans: An auto loan is a secured debt backed by the vehicle. In bankruptcy, it is often possible to stop repossession and get your car payments current or even wipe out car loans that you cannot afford to keep.

Contact Our Debt Relief Law Firm

At Gingold & Gingold LLC, our attorneys are committed to helping clients relieve their stress about debt and make a fresh financial start. To schedule a free initial consultation, please contact us today at (678) 915-2634 or by e-mail.

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    Our Client Reviews

    Gingold & Gingold LLC
    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!

    All C.

    Mr. Gingold was recommended by an attorney I had worked with previously. I met with Ira Gingold to discuss credit issues. He went over each specific issue thoroughly. He advised me of the potential outcomes. He did all this in one meeting for a very reasonable price. When we finished I was confident in moving forward with a resolution. He definitely wants to help people take the appropriate course of action for their circumstance.

    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.

    Sherard W.

    I cannot say enough about this law firm. From the initial consultation to our discharge, the entire office kept me updated with every step of the entire process. I came to the Gingold after a bad experience with another law firm. Ira and Jamie immediately began treating me like family through this experience. In the end, they assisted with eliminating many debts including my 2nd mortgage. I cannot say enough about the experience and knowledge that Ira brought to the table from the office visits to the court time. Thank you very much for helping me through this tough time. Thank you.

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