Atlanta Bankruptcy Law Blog

Will Congress finally tackle student loan debt?

On behalf of Gingold & Gingold LLC posted in Bankruptcy on Friday, January 11, 2013.

We have written about the mounting problem of student loan debt on our Atlanta bankruptcy blog on multiple occasions, detailing the many issues that are having serious effects on borrowers in Georgia and throughout the country. In those posts, we have bemoaned the lack of a federal response to the growing student debt load and the inability of borrowers to pay off their debt. However, that may be changing in the near future.

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Tags: debt, interest rates, student loan debt, student loan repayment, student loans

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?

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Tags: co-sign, loans, student loans

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

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

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.

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

1 in 5 Georgia households have student debt, study says

On behalf of Gingold & Gingold LLC posted in Bankruptcy on Friday, October 5, 2012.

According to a new study from the Pew Research Center, nearly one out of every five U.S. households had student debt in 2010. This amounts to more than 22 million households in Georgia and across the country, and that number has probably increased in the two years since that data was accumulated.

Continue reading 1 in 5 Georgia households have student debt, study says...

Tags: debt, student loan debt, student loans

Average medical school graduate has $183k in student loan debt

On behalf of Gingold & Gingold LLC posted in Bankruptcy on Friday, September 28, 2012.

In a recent survey of medical students in Georgia and across the U.S., the respondents listed the cost of medical education and their resulting student loan debt as the biggest challenge for med students. With an average student debt load of nearly $200,000, this finding is not terribly surprising. That doesn't mean that it is any less taxing on med school graduates, however.

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

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.

Continue reading Student loan bankruptcy bill introduced in Congress...

Tags: bankruptcy, student loan debt, student loans

Private student loans may soon be dischargeable in bankruptcy

On behalf of Gingold & Gingold LLC posted in Bankruptcy on Tuesday, July 31, 2012.

On our Atlanta bankruptcy blog, we recently wrote a blog post asking a question that many economists and debtors' advocates have asked in recent months: why are student loans still nondischargeable in bankruptcy? But although no one has been able to come up with a good answer, a recent report has prompted a discussion about whether private student loans should be made dischargeable, indicating, at the very least, progress.

Continue reading Private student loans may soon be dischargeable in bankruptcy...

Tags: bankruptcy, student loan debt, student loans

College dropouts struggle with student debt

On behalf of Gingold & Gingold LLC posted in Bankruptcy on Friday, June 1, 2012.

In the past ten years, the college enrollment rate has increased by nearly 40 percent. However, what was previously considered to be a logical, if not necessary next step after high school is now being looked at more closely, with the jump in student debt and the lack of jobs for new graduates.

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Tags: college graduates, college students, debt, student loan debt, student loans

Why are student loans still nondischargeable in bankruptcy?

On behalf of Gingold & Gingold LLC posted in Bankruptcy on Friday, April 27, 2012.

In a recent survey of bankruptcy lawyers in Georgia and throughout the U.S., more than 80 percent of respondents stated that they have seen an increase in clients with student loan debt in recent years. However, this growing number of student loan debtors are unlikely to garner any significant relief from the bankruptcy process, due to a federal law that prevents the discharge of student loan debt in bankruptcy.

Continue reading Why are student loans still nondischargeable in bankruptcy?...

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

Report: Mounting student loan debt may harm housing market

On behalf of Gingold & Gingold LLC posted in Foreclosure on Wednesday, April 18, 2012.

With ever-increasing tuition costs and high student debt amounts, it is no surprise that fewer recent college graduates are finding themselves a financial position to buy a home than members of previous generations. But now, financial analysts are saying that the mounting student loan debt and resulting inability to make large-scale purchases could cause significant damage to the already-struggling housing markets in Georgia and throughout the country.

Continue reading Report: Mounting student loan debt may harm housing market...

Tags: housing market, student loan debt, student loans