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Many ways to get out of debt Atlanta, GA

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Many ways to get out of debt

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For Georgia residents who are struggling to make payments on their various financial obligations, the path out of debt can seem insurmountably difficult. However, as we have emphasized many times in the past on this blog, borrowers have various options when debt becomes overwhelming and it is not possible to continue to make payments on all of one’s obligations.

While it can be difficult to take the first steps towards a solution, it is important to realize when help is needed and to seek out the appropriate resources to get the ball rolling towards relief.

For people who are struggling mainly with consumer debt, there are nonprofit organizations in Georgia that can help counsel borrowers on debt repayment strategies and can assist in working with creditors to establish a new payment plan. This option does not allow for a reduction in the balance that is due and the repayment time can be lengthy. There are also many organizations out there trying to mislead distressed borrowers into believing that they are not-for-profit when in fact the opposite is true. Before working with one of these organizations, check their credentials and make sure their nonprofit status with the IRS has not been revoked.

Another option, which our firm assists clients with, is bankruptcy. Both Chapter 7 and Chapter 13 bankruptcy filings offer a reduction in the total amount owed through various means including liquidations of assets and refinancing of loans. Bankruptcy filing can offer a finality and a court approved debt management solution, although it often comes at the price of disposal of some assets and harm to one’s credit rating.

Source: Fox Business, “Choices for Debt Relief” Fred O. Williams, Feb. 8, 2013

Posted on behalf of Jamie L. Gingold, PC

195 14th Street NE #1604
Atlanta, GA 30309

Phone: (678) 915-2634


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    Jamie L. Gingold, PC
    5.0 / 5.0

    Based on 28 reviews

    Jack L.

    They did an excellent job with my case. Jamie took the time to really listen and understand things. She delved into the details and was extremely knowledgeable and non judgmental. Very professional and they know what they are doing. Would definitely recommend!

    Karen B.

    Dear Mr Gingold, There are so many reasons to be thankful for all you have done and will do. Anyone who has ever had unfavorable experiences with an attorney or the legal system will feel the trepidation that I experienced once I realized that my situation seemed hopeless. It was by chance and happily good luck that I decided to put my future and sanity into your hands. I was mortified at having to deal with my debts by claiming bankruptcy. I remember in our first meeting how you assured me that I was not alone and should not feel ashamed. And, anyone in this position obviously does not have money to spare and you were clear about all the costs and allowing me to pay according to my own ability to do so. You advised me in all aspects of the law, but also, you were at each meeting incredibly supportive and complementary of my personal and professional plans. Anyone else in this situation should feel blessed to have access to your expertise and support.

    Lyla B.

    I thought the process of filing bankruptcy was going to be a difficult one. However, Gingold & Gingold treated me with respect and dignity from the moment I walked through their door. I had the pleasure of working with Jamie. She is very responsive, professional, and knowledgeable. She took the time and listened to my every concern and handled each and every one of them to my satisfaction. My experience with filing bankruptcy under Gingold & Gingold's representation exceeded my expectations in a major way. They gave me such a peace of mind. I am very pleased with my decision of going with Gingold & Gingold to represent me when I filed Chapter 13 bankruptcy.

    Julie T.

    Wow! I am finally out of debt and can say that I am debt free after completing my chapter 7 bankruptcy case with Gingold and Gingold. Mr dangled was very knowledgeable and direct with regard to my debt situation. there were no surprises and the case went as I was advised. The staff was also very helpful whenever I had a question. I will definitely recommend them in the future to my friends.

    Julie T.

    I contacted getting old and getting old regarding some old tax debt and credit card debt that I needed to address and had been putting off. miss Irving in the office was very very nice and put me at ease. I met with Jaime Gingold. She was very nice and explained the procedure to me and what would be left owing to the Internal Revenue Service and the State of Georgia after my case was done. My case has now been completed and I am on my way to a new start. Thank you Gingold and Gingold for all of your help.

    Anna T.

    Amazing! Outstanding!! They went over and beyond..I would recommend them to anyone needing a lawyer!!

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