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

Reaffirming a car loan after Chapter 7 bankruptcy

On behalf of Gingold & Gingold LLC posted in Chapter 7 on Wednesday, September 19, 2012.

If you are dealing with unmanageable debt, Chapter 7 bankruptcy may be an excellent way for you to eliminate that debt and get back on your financial feet. However, there are a few drawbacks to a Chapter 7 filing. Your credit score may take a hit, and it will probably take some time for it to recover. In addition, if you have any secured debt such as a car loan, you may have to give up the car or other item that is securing that debt in order to have the debt forgiven.

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Tags: Chapter 7, bankruptcy, car payment, debt, loan modications

Georgia poverty report shows slight improvements

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

According to a new Census Bureau report on household income and poverty, the economic situation in Georgia has improved, slightly, in recent years. However, Georgia residents remain in far worse financial situations than they were before the economic recession, due largely to the stagnation of industries such as construction and the sluggish recovery of the housing market.

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Tags: Georgia, debt, economy, poverty, recession

Foreclosure notices continue to decline in Atlanta

On behalf of Gingold & Gingold LLC posted in Foreclosure on Wednesday, September 12, 2012.

Continuing the downward trend, the number of foreclosure notices filed in the Atlanta metro area once again fell this month. Now, analysts are working to identify the cause of the continuing decline, with many hoping it means that the worst of the foreclosure and housing crisis has come and gone in Atlanta.

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Tags: Atlanta, foreclosure, home prices, housing market, underwater mortgage

Medical debt drives Atlanta women into bankruptcy

On behalf of Gingold & Gingold LLC posted in Bankruptcy on Saturday, September 8, 2012.

According to recent data from the Commonwealth Fund, a non-profit that advocates for health care reform, more than a quarter of women in Georgia and across the U.S. had trouble paying their medical bills in 2009-2010. That is more than double the rates in any of the 10 other countries studied, indicating that medical debt is driving more U.S. women into difficult financial situations than in other similar nations.

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Tags: Chapter 13, Chapter 7, bankruptcy, medical bills, medical debt

In 2000s, middle class saw declines in income, net worth

On behalf of Gingold & Gingold LLC posted in Bankruptcy on Wednesday, September 5, 2012.

The first decade of the 2000s was hard on the middle class, according to a new study from the Pew Research Center. During those 10 years, both median income and median net worth fell for middle class households, and the middle class itself shrunk. The reasons for these declines are the common culprits behind so many of the lasting negative effects of the economic recession: unemployment, underemployment, the loss of home equity and underwater mortgages.

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Tags: debt, middle class, recession, unemployment

Evidentiary issues plague Georgia credit card debt lawsuits (2)

On behalf of Gingold & Gingold LLC posted in Bankruptcy on Friday, August 31, 2012.

Earlier this week, we began a discussion of the growing problem of inaccurate or outright fraudulent credit card debt lawsuits. Thousands of these suits are filed every month in metro Atlanta courts, and advocates say that number will probably continue to rise.

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Tags: Georgia, credit card debt, creditors, debt collector, lawsuit

Evidentiary issues plague Georgia credit card debt lawsuits (1)

On behalf of Gingold & Gingold LLC posted in Bankruptcy on Wednesday, August 29, 2012.

Throughout the economic recession and its aftermath, much attention has been paid to mortgage fraud and the other issues that led to the foreclosure crisis. Lawmakers and advocates continue to work to identify those issues in order to ensure that innocent homeowners can no longer be harmed by fraud and other predatory practices.

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Tags: Georgia, credit card debt, creditors, debt collector, lawsuit

Underwater mortgages plague half of Atlanta homeowners

On behalf of Gingold & Gingold LLC posted in Foreclosure on Saturday, August 25, 2012.

In a recent report on mortgage equity in the U.S., there was good news and bad news for residents of metro Atlanta. In the former category, the percentage of Atlanta homeowners who owe more on their mortgage than their home is worth declined by nearly one percent from the first quarter of 2012 to the second.

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Tags: Atlanta, foreclosure, home prices, homeowner, underwater mortgage

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

Unemployment benefits reinstated for Georgia school employees

On behalf of Gingold & Gingold LLC posted in Bankruptcy on Thursday, August 16, 2012.

In January, the Georgia State Labor Commissioner instituted a change to the state's unemployment program, under which seasonal school workers such as bus drivers and cafeteria employees could no longer receive unemployment benefits during the summer months. As could be expected, this change placed many of the affected workers into a precarious financial position, forcing them to borrow money, forego paying bills or even file for bankruptcy as a result of the forced loss of income.

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Tags: Georgia, bankruptcy, unemployment

Unemployment benefits reinstated for Georgia school employees

On behalf of Gingold & Gingold LLC posted in Bankruptcy on Thursday, August 16, 2012.

In January, the Georgia State Labor Commissioner instituted a change to the state's unemployment program, under which seasonal school workers such as bus drivers and cafeteria employees could no longer receive unemployment benefits during the summer months. As could be expected, this change placed many of the affected workers into a precarious financial position, forcing them to borrow money, forego paying bills or even file for bankruptcy as a result of the forced loss of income.

Continue reading Unemployment benefits reinstated for Georgia school employees...

Tags: Georgia, bankruptcy, unemployment