Atlanta Bankruptcy Law Blog

Student loan borrowers in Atlanta have many options for repayment

On behalf of Gingold & Gingold LLC posted in Chapter 7 on Friday, August 9, 2013.

We have discussed the student loan debt crisis previously on this blog, and many Atlanta residents are all too familiar with this issue due to their own personal experiences. Student loan debt in this nation recently hit the $1.2 trillion mark and many Georgia residents are hurting as a result. In fact, the average student loan borrower is now graduating with about $26,000 in debt--and 10% of borrowers are at least $40,000 in the red before they toss their caps.

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Tags: Chapter 7, Chapter 7 bankruptcy, debt relief, struggling with debt

Bennigan's CEO has a post-bankruptcy plan for success

On behalf of Gingold & Gingold LLC posted in Chapter 7 on Friday, July 12, 2013.

When small business owners here in Atlanta begin drowning in debt, a number of them feel like they have no options other than putting up a "Going out of Business" sign and calling it a day. However, in many cases business do have a number of opportunities that can help resolve debt problems and keep doors open. In some cases, bankruptcy allows business owners to do this.

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Tags: Chapter 7, Chapter 7 bankruptcy, debt relief, struggling with debt

Toni Braxton finally settles bankruptcy case

On behalf of Gingold & Gingold LLC posted in Chapter 7 on Wednesday, July 10, 2013.

Toni Braxton fans here in Atlanta may have heard that the Grammy-award winning musician recently settled her second bankruptcy case. Her first bankruptcy occurred in 1998.

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Tags: Chapter 7, Chapter 7 bankruptcy, fresh financial start

Study: Medical debt is the number one cause of bankruptcy

On behalf of Gingold & Gingold LLC posted in Chapter 7 on Wednesday, June 26, 2013.

Many Atlanta families who were once financially secure may have experienced an ovewhelming debt load caused by a sudden medical expense. These families are not alone. A recent study has found that the biggest cause of personal bankruptcy filings in the U.S. is now medical debt. In fact, this year alone medical bills were expected to cause about 1.7 million American families to file for bankruptcy protection.

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Tags: Chapter 7, Chapter 7 bankruptcy

In tax debt bankruptcy case, parties dispute company ownership

On behalf of Gingold & Gingold LLC posted in Chapter 7 on Friday, June 14, 2013.

In a previous post we discussed Grammy Award-winning singer Dionne Warwick's financial troubles and the fact that she recently filed for bankruptcy because of a mounting tax debt. As we noted earlier, it can be difficult or impossible to discharge tax debt during bankruptcy except in very special circumstances.

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Tags: Chapter 7, Chapter 7 bankruptcy

My kid's in college on a 529 plan, will bankruptcy affect it? II

On behalf of Gingold & Gingold LLC posted in Chapter 7 on Saturday, June 8, 2013.

College education 529 plans and treatment during Chapter 7 bankruptcy were the topic of our recent post. This is the second part of the two-part post. The first discussed why a 529 plan is beneficial and the first "beneficiary" test used to determine if the funds can be excluded from the bankruptcy estate. In this post, we discuss the second major consideration.

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Tags: Chapter 7, Chapter 7 bankruptcy, filing for Chapter 7

My kid's in college on a 529 plan, will bankruptcy affect it?

On behalf of Gingold & Gingold LLC posted in Chapter 7 on Thursday, June 6, 2013.

Giving their children the best opportunities in life is something that parents strive to do in Atlanta, Georgia. This often includes saving for college, and savvy parents often do this through a 529 plan that maximizes the money under certain tax advantages. This type of plan allows the funds to be treated as "completed gifts" by the Internal Revenue Service.

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Tags: Chapter 7, Chapter 7 bankruptcy