I represent individuals in Chapter 7 and Chapter 13 cases filed in the Northern District of Georgia, which includes Atlanta, Newnan, Gainesville and Rome. I publish several informative web sites, including https://www.atlanta-bankruptcy.com and an Atlanta bankruptcy blog, https://www.thebklawyer.com/thebkblog. Please mention Bankruptcy Law Network when you call.


Author: Jonathan Ginsberg, Esq.

01 Jun Sub-prime Loans are Back – this time in Auto Loans

credit for credit challenged car buyersAn article in this past week's issue of the online publication Collection & Credit Risk raises the question of whether the spread of sub-prime loans in industries other than mortgages could prompt a replay of the Great Recession of 2009. According to credit bureau Experian, financing for new and used vehicles to borrowers with credit scores less than 680 comprised almost 42% of all automobile financing during the first quarter of 2011, and the trendline for this type of financing is on the rise. Industry experts note that the wholesale (used) car market is very strong. Repossession is relatively easy and used car valuations are up. This has attracted more lenders to market towards credit challenged individuals. GM, which sold GMAC and exited the car financing business several years ago, has quietly re-entered the vehicle financing business by purchasing a sub-prime lender (now named GM Financial). Other large financing companies are expected to follow suit.
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03 May Bankruptcy Judges Try to Protect “Honest but Unfortunate” Debtors

While the recent trend in Congressional tweaking of the Bankruptcy Code and resulting case law decisions from various federal circuit courts and even the Supreme Court has been to reduce the level of protection available to debtors, bankruptcy judges remain extremely protective of the integrity of the automatic bankruptcy stay. A recent Northern District of Georgia case involving a commercial real estate bankruptcy reveals just how seriously bankruptcy judges will go to preserve the core protection of the bankruptcy code.
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30 Apr Do I Need to Disclose Paypal, Barter Dollars or Consigned Items When I File Bankruptcy?

If you have lost your job, or when you are facing financial hardship, you may have looked for creative ways to generate money. Many of my clients use eBay or other auction services to sell off valuables and here in the Atlanta area a number of "jewelry liquidators" (which are essentially high end pawn shops) have opened to service the needs of middle to upper income level clients who need a discreet method to sell or consign jewelry, electronics, paintings, etc.
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13 Apr Federal Government Orders Mortgage Lenders to Reimburse Homeowners for Improper Foreclosures

A joint report by the Federal Reserve, Office of Thrift Supervision and Office of the Comptroller of the Currency found significant irregularities in the foreclosure activities of ten of the nation's largest mortgage lenders, and ordered those lenders to "remediate all financial injury to borrowers caused by any errors, misrepresentations, or other deficiencies." According to the press release issued by the Federal Reserve, "these deficiencies represent significant and pervasive compliance failures and unsafe and unsound practices at these institutions." Under consent orders agreed to by the lenders and the federal agencies noted above, the lenders - which includes Citibank, Bank of America, JPMorganCase and Wells Fargo - must audit foreclosures conducted in 2009 and 2010 within the next 45 days, and compensate injured homeowners.
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