Atlanta Bankruptcy Law Blog

Trustee seeks recovery from casinos in Atlanta bankruptcy case

On behalf of Gingold & Gingold LLC posted in Chapter 7 on Friday, July 18, 2014.

The ins and outs of filing for bankruptcy are complicated. There is no form 1040EZ to fill out as there is for taxes. The nuances are many and it can be easy for someone unfamiliar with them to overlook legitimate opportunities that might exist.

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Tags: Chapter 7, Chapter 7 bankruptcy

Supreme Court rules some IRAs not protected in bankruptcy

On behalf of Gingold & Gingold LLC posted in Chapter 7 on Thursday, June 19, 2014.

Back in April, we posted about a legal challenge that had made its way to the U.S. Supreme Court. It involved a question over whether funds in certain inherited individual retirement accounts are provided protection from creditors during bankruptcy proceedings. The answer is now in.

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Tags: Chapter 7, Chapter 7 bankruptcy

Are inherited retirement accounts protected in bankruptcy?

On behalf of Gingold & Gingold LLC posted in Chapter 7 on Monday, April 7, 2014.

When a person in Atlanta files for personal bankruptcy, his or her retirement accounts are protected from being used to pay off debts in most cases. This rule was established to ensure that people who go through bankruptcy are not left worse off than before they filed.

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Tags: Chapter 7, Chapter 7 bankruptcy

Nonprofit lists 130 creditors in Chapter 7 bankruptcy claim

On behalf of Gingold & Gingold LLC posted in Chapter 7 on Tuesday, February 18, 2014.

There are a lot of expenses that come with running a business. However, the hope is typically that money coming into the business not only pays for these expenses, but there is also a profit to be made.

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Tags: Bankruptcy, Chapter 7 bankruptcy

Partner's shady dealings cause man to file Chapter 7 bankruptcy

On behalf of Gingold & Gingold LLC posted in Chapter 7 on Wednesday, January 29, 2014.

Starting one’s own business is always a gamble. Sometimes you hit it big and become wildly successful, and other times you end up having to file for Chapter 7 bankruptcy. Even if you’ve done everything right, you could still find yourself in financial trouble. It may not even be your fault.

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Tags: Chapter 7, Chapter 7 bankruptcy, debt relief, fresh financial start, struggling with debt

With millions in debt, international airline files for bankruptcy

On behalf of Gingold & Gingold LLC posted in Chapter 7 on Thursday, January 9, 2014.

It is a proud American tradition to start a business. You start small and hopefully can build your business into a large brand that generates income for you and your employees. You might even have issued stock and have shareholders. Starting a business, however, is no easy feat. It takes a lot of money to get a business going, and not all ventures make it up in the end. At this point, a company might consider filing for Chapter 7 bankruptcy.

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

Bank of America will pay for trying to collect discharged debts

On behalf of Gingold & Gingold LLC posted in Chapter 7 on Friday, October 18, 2013.

Many people in Atlanta benefit from filing Chapter 7 bankruptcy in order to obtain a fresh financial start and rid themselves of creditor harassment once and for all. Filing bankruptcy can grind creditor harassment to a halt, as well as allow people to discharge debts or reorganize them into more affordable plans.

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

Many Georgia residents struggle with student loan payments

On behalf of Gingold & Gingold LLC posted in Chapter 7 on Wednesday, October 16, 2013.

If you are among the Georgia residents who are cash-strapped due to high monthly student loan payments, you are not alone. Student loan debt accounts for more consumer debt in this country than any other type of debt other than mortgages.

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Tags: Chapter 7, Chapter 7 bankruptcy

How is the government shutdown affecting workers in Atlanta?

On behalf of Gingold & Gingold LLC posted in Chapter 7 on Thursday, October 10, 2013.

People from all over the country have been reading about the current government shutdown. No matter what a person's political stance is on the situation, the fact is that the partial shutdown is taking a profound toll on people in Atlanta and elsewhere who are currently unable to work.

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

Belle Foods receives 'stalking horse' bid of $16.3 million

On behalf of Gingold & Gingold LLC posted in Chapter 7 on Friday, September 27, 2013.

Although bankruptcy auctions are more commonly associated with Chapter 7 bankruptcy, they may be utilized in a Chapter 11 filing as well. This was the case for Belle Foods, a southern grocery store chain.

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Tags: Chapter 7, Chapter 7 bankruptcy, liquidation

Is it possible to negotiate lower medical bills?

On behalf of Gingold & Gingold LLC posted in Chapter 7 on Wednesday, August 21, 2013.

As we've previously discussed in this blog, medical bills are a leading cause of bankruptcy in the Atlanta area. Often, people incur huge medical expenses when they suffer illnesses or injuries while they are uninsured. However, one does not have to be without medical insurance to end up facing unmanageable medical debt. Sky-high deductibles, mounting premiums and sudden injuries or health troubles can, and often do, result in thousands of dollars of debt.

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Tags: Chapter 7, Chapter 7 bankruptcy, debt relief

How soon can you file for Chapter 7 again?

On behalf of Gingold & Gingold LLC posted in Chapter 7 on Wednesday, August 14, 2013.

Some Atlanta residents have gone through a Chapter 7 bankruptcy filing in the past five years. Ever since the Great Recession in 2008, people have been struggling; and while things are getting better, some people are still trying to get their finances in order. May it be a crushing loan or a tumultuous job situation, some people need bankruptcy protection -- even after filing for bankruptcy recently.

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Tags: Chapter 7, Chapter 7 bankruptcy, liquidation