Atlanta Bankruptcy Law Blog

Possible expiration of foreclosure law puts renters at risk (1)

On behalf of Gingold & Gingold LLC posted in Foreclosure on Wednesday, December 19, 2012.

Last week, we wrote about a mortgage debt law that will expire at the end of this month unless Congress takes action to extend it. Today, we will discuss another federal housing law that is dangerously near expiration, and could potentially put thousands of Georgia renters at a serious risk of eviction and similar financial harm if it is allowed to expire.

Continue reading Possible expiration of foreclosure law puts renters at risk (1)...

Tags: Protecting Tenants at Foreclosure Act, eviction, foreclosure, landlords, renters

Should you co-sign for a stranger?

On behalf of Gingold & Gingold LLC posted in Bankruptcy on Friday, December 14, 2012.

The ongoing economic slowdown has caused many people in Atlanta and throughout the country to consider options and seek assistance in ways they never thought they would have to. One example of this is co-signers. If you don't have the credit to qualify for a car, personal, business, home or student loan, and you don't have a family member or friend who is willing or able to co-sign for you, what can you do?

Continue reading Should you co-sign for a stranger?...

Tags: co-sign, loans, student loans

Pending tax break expiration is driving Georgia short sales

On behalf of Gingold & Gingold LLC posted in Foreclosure on Tuesday, December 11, 2012.

Unless federal lawmakers take action to extend it, the Mortgage Debt Forgiveness Act is scheduled to expire on December 31 of this year. This means that, in a few short weeks, homeowners who sell their homes in a short sale will be forced to pay income tax on the portion of their mortgage debt that is forgiven by the bank. This could amount to several thousand dollars in additional debt for these already-struggling homeowners.

Continue reading Pending tax break expiration is driving Georgia short sales...

Tags: foreclosure, foreclosure sales, income tax debt, short sale, taxes

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.

Continue reading Consumer debt falls while student loan debt continues to rise...

Tags: bankruptcy, consumer spending, debt, student loan debt, student loans

Atlanta woman travels north to save home from foreclosure

On behalf of Gingold & Gingold LLC on Tuesday, December 4, 2012.

If your house has gone into foreclosure, one of the most difficult aspects of that process can be simply figuring out who owns your mortgage, to whom you owe mortgage debt and who you should call to try to work out a solution. Recently, one Atlanta woman was forced to travel all the way up to Minnesota to meet with her mortgage provider, in an attempt to work out a deal that will hopefully allow her to avoid being evicted from her foreclosed home.

Continue reading Atlanta woman travels north to save home from foreclosure...

Tags: foreclosure, mortgage, mortgage lenders

How to avoid debt this holiday season (2)

On behalf of Gingold & Gingold LLC posted in Bankruptcy on Friday, November 30, 2012.

Earlier this week, we discussed a few ways in which our Georgia bankruptcy blog readers can avoid incurring large amounts of debt as they shop for family and friends this holiday season. Having a debt-avoidant mentality may be more important this year than in years past, as retailers adopt increasingly aggressive and tricky methods for getting consumers to spend money in their stores.

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Tags: credit card debt, debt, holiday shopping, spending

How to avoid debt this holiday season (1)

On behalf of Gingold & Gingold LLC posted in Bankruptcy on Thursday, November 29, 2012.

With Thanksgiving and Black Friday already a distant memory, the holiday shopping season has officially begun in Georgia and all throughout the United States. And while buying and giving gifts to family and friends can be fun and meaningful, it is important to remain within your means while shopping for loved ones. After all, no one that truly cares about you would want you to incur huge debts to buy them a Christmas present.

Continue reading How to avoid debt this holiday season (1)...

Tags: credit card debt, debt, holiday shopping, spending

Will health care reform reduce Georgians' medical debt? (2)

On behalf of Gingold & Gingold LLC posted in Bankruptcy on Saturday, November 24, 2012.

Earlier this week, we began a discussion on medical debt and bankruptcy, and whether the Affordable Care Act would relieve any of the pressure of high medical bills on Georgia families. This is an issue that affects a huge portion of the U.S. population: economists say that medical debt is the most common type of debt owed in this country. It is, they say, more common than car loans, student loans, credit card debt, mortgages and other forms of debt.

Continue reading Will health care reform reduce Georgians' medical debt? (2)...

Tags: bankruptcy, health, medical bills, medical debt

Will health care reform reduce Georgians' medical debt? (1)

On behalf of Gingold & Gingold LLC posted in Bankruptcy on Friday, November 23, 2012.

Although the Affordable Care Act has been touted as a major, much-needed reform of the American health care system, many Georgia residents remain uncertain on just how the new law will change their health insurance and the way that they seek and pay for medical care. And they are not alone. Many people, even state and federal officials, are not yet sure whether the health care law will reduce the average American's medical debt load.

Continue reading Will health care reform reduce Georgians' medical debt? (1)...

Tags: bankruptcy, health, medical bills, medical debt

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.

Continue reading Student loans may be delaying retirement for many older Americans...

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

Federal agency sues over mortgage relief fraud

On behalf of Gingold & Gingold LLC posted in Foreclosure on Friday, November 9, 2012.

The U.S. Federal Trade Commission (FTC) has filed lawsuits against three companies, accusing the companies of using fraudulent means to swindle homeowners out of millions of dollars. The ultimate goal of the lawsuits is to immediately force the companies to shut down.

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Tags: FTC, foreclosure, foreclosure fraud, mortgage, mortgage fraud

Average household debt falls to pre-recession levels

On behalf of Gingold & Gingold LLC posted in Bankruptcy on Monday, November 5, 2012.

New reports indicate that households in Georgia and throughout the country have cut their debt down to record low levels. The average debt load held by U.S. households is now at or below the amounts reported before the economic recession hit in 2008.

Continue reading Average household debt falls to pre-recession levels...

Tags: credit card debt, debt, recession, student loans