Atlanta Bankruptcy Law Blog

Georgia resident's Chapter 7 bankruptcy discharges $400k in debt

On behalf of Gingold & Gingold LLC posted in Bankruptcy on Tuesday, February 19, 2013.

Earlier this month, a former chief of staff for an out-of-state big city mayor was allowed to discharge more than $400,000 in debts. This former mayoral staff member filed for Chapter 7 bankruptcy in Georgia where she moved following a scandal that resulted in her pleading guilty to felony obstruction of justice charges after a newspaper published text messages which indicated she had indeed lied under oath in a court trial involving her former boss, Kwame Kilpatrick. Although the judge in the bankruptcy court approved the discharge of almost $400,000 in debt, she was not able to discharge back taxes she owes to the IRS or the restitution she agreed to pay the city of Detroit after pleading guilty to the obstruction charges. Certain debts, such as taxes, court judgments or criminal or civil restitution or even the majority of student loans are not dischargeable in bankruptcy. Student loans currently may be discharged but only under extreme long-term demonstrated hardship cases.

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Tags: Chapter 7, bankruptcy, bankruptcy filings

Georgia's bankruptcy rate rises above national average

On behalf of Gingold & Gingold LLC posted in Bankruptcy on Thursday, January 10, 2013.

While a majority of states are reporting a drop in the number of bankruptcies filed, Georgia's rate continues to grow; now showing that the state is 70 percent above the national average.

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Tags: Georgia, bankruptcy filings, bankruptcy rates, financial security

Bankruptcy filings drop in first half of 2012

On behalf of Gingold & Gingold LLC posted in Bankruptcy on Friday, August 3, 2012.

According to recently released federal data, the number of bankruptcies filed in the first half of 2012 was significantly lower than the number of filings made during the same time period last year. In fact, both consumer and business bankruptcy filings fell to levels that were last seen prior to the economic recession in 2008. If these numbers remain constant through the end of the year, they may indicate that the national economic picture is, slowly but surely, improving.

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Tags: bankruptcy, bankruptcy filings, economy, recession

Court dismisses Octomom's bankruptcy petition

On behalf of Gingold & Gingold LLC posted in Chapter 7 on Wednesday, May 16, 2012.

Just last week, we wrote about the personal bankruptcy filing of Nadya Suleman, the woman who gained notoriety (as well as the unfortunate nickname of 'Octomom') after giving birth to octuplets in 2009. Now, it appears that Suleman's Chapter 7 bankruptcy petition has been dismissed after the mother of 14 reportedly failed to file required documents with the bankruptcy court overseeing her case.

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Tags: Chapter 7, bankruptcy, bankruptcy filings, foreclosure, foreclosure sales

Bankruptcy case forces NBA star to sell championship ring

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

Former professional basketball player Antoine Walker has reportedly found a buyer for his National Basketball Association Championship ring, which he was forced to put on the market as part of his bankruptcy case. Walker will reportedly receive $21,500 for his championship ring, which he earned in 2006 while playing for the Miami Heat.

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Tags: assets, bankruptcy, bankruptcy filings, debt

Fewer Americans filed for bankruptcy in 2011

On behalf of Gingold & Gingold LLC posted in Chapter 7 on Friday, January 6, 2012.

These days, it seems that any good news about the economy or how Americans are faring in the wake of the recession always comes with some sort of negative caveat. Well, what we are going to report today is no exception. According to a report from the National Bankruptcy Research Center, fewer Americans filed for Chapter 13 or Chapter 7 bankruptcy in 2011 in comparison to 2010. However, experts expect that decline to be only temporary, and personal bankruptcies to increase once again the coming year.

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Tags: Chapter 13, Chapter 7, bankruptcy, bankruptcy filings

Singer Tionne Watkins files for bankruptcy

On behalf of Gingold & Gingold LLC posted in Bankruptcy on Wednesday, November 30, 2011.

Entertainment news websites are reporting that singer Tionne Watkins, better known by her stage name of T-Boz, has filed for bankruptcy. In her court filings, the singer claims that she is unable to pay her bills because of her ex-husband's failure to make his court-ordered child support payments.

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Tags: bankruptcy, bankruptcy filings, child support, mortgage

Study: Bankruptcy rises among those with college degrees and jobs

On behalf of Gingold & Gingold LLC posted in Bankruptcy on Friday, September 16, 2011.

The recession has hit most sectors of society extremely hard, and that fact is showing up in the profiles of those filing for bankruptcy, according to a recent study by the nonprofit Institute for Financial Literacy. While the unemployed and those with less education continue to be among the most likely to have serious financial problems, the number of bankruptcy filings among people with college degrees and those with relatively high-paying jobs has risen dramatically. The study also found that being married, which has traditionally been one factor that keeps people financially stable, no longer has the protective effect it once did.

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Tags: bankruptcy, bankruptcy filings, college graduates, economy, recession, student loans

Metro Atlanta small business bankruptcy filings decrease

On behalf of Gingold & Gingold LLC posted in Bankruptcy on Wednesday, March 16, 2011.

In the metro Atlanta area, small business bankruptcies decreased during the fourth quarter of 2010. This marked the fewest number of small business bankruptcy filings since the first quarter of 2008, when the economic recession was beginning to take hold in Georgia and throughout the country.

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Tags: Atlanta, bankruptcy, bankruptcy filings, small business, unemployment

Bankruptcy Filings Expected to Slow in 2011

On behalf of Gingold & Gingold LLC posted in Bankruptcy on Friday, January 14, 2011.

Although 2010 saw a continuation of the years-long increase in the number of both business and consumer bankruptcy filings, experts and analysts are encouraged by one small indicator of progress. The growth in bankruptcy filings that has persisted over the past several years slowed significantly in the past year, with multiple months showing a drop in bankruptcies over the previous year for the first time in four years.

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Tags: bankruptcy, bankruptcy filings, economy, medical bills, unemployment

Georgia Consumer Bankruptcy Filings Slow in November

On behalf of Gingold & Gingold LLC posted in Chapter 7 on Monday, December 6, 2010.

In Georgia and across the country, the steady increase in Chapter 13 and Chapter 7 bankruptcy filings finally slowed in November for the first time in several months. However, consumer analysts are hesitant to be optimistic about the decrease, as the United States is on track to reach a record high 1.6 million consumer bankruptcy filings in 2010.

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Tags: Chapter 13, Chapter 7, Georgia, bankruptcy, bankruptcy filings