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Other Bankruptcy News in Atlanta

A bankruptcy doesn't happen in a vacuum. Many different types of misfortunes (or strategies) must come together to cause a person to file Chapter 7 or Chapter 13 papers. To file effective papers, a person should have a general idea about the bankruptcy process as it impacts other people, whether it is sports teams, banks, prominent Atlanta business-people, or famous companies. These kinds of other bankruptcy news help provide perspective during what is no doubt a stressful time for any individual.

Also, by reading other bankruptcy news, which could include anything from the rate of foreclosures in Georgia, to new type of credit cards offered by local banks, a person can become more educated about the wide world of bankruptcy. Such awareness will not only be helpful after the bankruptcy has been filed, but will help in communication with an Atlanta Bankruptcy attorney.

Recently in Other Bankruptcy News Category

Can You Be Bankrupt and Live in a Mansion?

Todd Chrisley, of the new reality show "Chrisley Knows Best," filed for Chapter 7 bankruptcy to resolve $49.4 million of debts, but he still looks mighty rich in his lavish 30,000 sq. ft. Atlanta mansion. What gives?

Contrary to popular belief, there are certain assets you can keep when you file for Chapter 7 bankruptcy. But there are also penalties when you try to hide your assets.

Chrisley is currently caught between these two rules.

Can I Keep My Credit Card After Filing Bankruptcy?

In most cases, banks cancel a debtor's credit cards when they receive notice of his or her bankruptcy.

But as always, the general rule has exceptions.

Whether or not you can keep your credit card after filing bankruptcy will largely depend on your bank and under what bankruptcy chapter you are filing.

How a Foreclosure Works in Georgia

Want to know how a foreclosure works in Georgia? While nobody hopes that they'll ever have to deal with one, the reality of the situation might be a little different.

If you have taken out a mortgage on your property and don't make the proper payments, you could end up defaulting, and a lender may foreclose on your home and offer it up for sale.

What does this process look like in Georgia?

Can a Landlord Evict a Tenant in Bankruptcy?

If a tenant files for bankruptcy, both federal and Georgia laws determine whether a landlord can evict the tenant. In particular, the timing of the bankruptcy and eviction proceedings greatly affect the steps a landlord must take to regain possession of the rental unit.

Here are the general rules on if and when a landlord in Georgia can evict a tenant in bankruptcy:

Deciding on the right bankruptcy attorney can be just as draining as the bankruptcy process itself. If you don't know what to look for in a lawyer, the whole experience of researching and meeting with potential attorneys can be pretty overwhelming.

Don't worry. We've got you covered. Here are five tips to help you find the bankruptcy lawyer who's right for you:

3 Famous People Who Survived Bankruptcy

Bankruptcy might sound scary. But sometimes, it's reassuring to know that others have been there and pulled through it.

Some of these people are famous and some even went on to make history.

Here are a few famous people who have declared bankruptcy and survived, courtesy of CNN:

City of Stockton Going for Bankruptcy Proceedings

The City of Stockton, California, is heading further into the bankruptcy process. Next month,the city will go to trial to see if bankruptcy is even a possibility.

While bankruptcy is typically the type of thing that individuals and businesses go through, it’s not unknown for a municipality or county to declare bankruptcy.

A U.S. District Judge just tacked a few more months onto Lenny Dykstra's prison stay. The All-Star outfielder-turned-financial guru is currently serving a three-year prison sentence for grand theft auto.

Earlier in the year, Dykstra was accused of fraudulently concealing assets during his recent bankruptcy. The former ballplayer was found guilty and sentenced to six and a half months in prison and 500 hours of community service, The Associated Press reports.

Cobb, DeKalb, and Fulton counties have filed a lawsuit against HSBC, claiming the bank engaged in predatory lending practices, Channel 2 Action News reports.

The suit, filed in federal court, claims violations of the Fair Housing Act. The counties allege that HSBC made racially discriminatory loans, involving different terms for minorities and persons of color.

Defunct solar-panel maker Solyndra has released its bankruptcy plan, and a lot of people aren’t happy about it.

Under the plan, Solyndra would pay off only a fraction of the $528 million in federally backed loan debt it owes the government, Market Watch reports. On top of that, the company is set to benefit from hundreds of millions of dollars of tax breaks when it exits bankruptcy as a shell company.