NFL Lockout Linked to Lawrenceville Pro Gym Bankruptcy

A recent WSJ article showcased a local Atlanta gym that because of the NFL lockout has caused it to file for bankruptcy protection. The Georgia Training Alliance has filed for Chapter 11 protection, showcasing how the NFL lockout has trickled down to the small business level.

Georgia Training Alliance is a 20,000 square foot gym that was known for being frequented by NFL players. The facility offers extensive power lifting equipment and features a 60 yards of field turf. About two dozen NFL players would typically pay $1,500 per week for access to the training facility during the off-season. Today the gym is quiet, both because of the uncertainty of players, especially rookies, from getting paid and the ability for players to access their team’s medical support.

David Irons Sr., owner of Georgia Training Alliance, warns that other Atlanta small business are going to be affected by the lockout. Those established on the Atlanta sports scene, including financial planners, cooks, and massage therapists are likely to continue to see business drop, if not be faced with needing to shut down.

Irons has filed for Chapter 11, which will allow his company to hold off its creditors during the NFL lockout. A July filing with the U.S. Bankruptcy Court in Atlanta showed that the company’s assets are worth less than $50,000. The company owes its creditors about $200,000.

Read NFL Lockout Blamed for Georgia Gym’s Bankruptcy

Berry & Associates offers Chapter 7 and Chapter 13 bankruptcy. The Georgia bankruptcy law firm is based in Atlanta and has 11 regional offices, including a Duluth bankruptcy office. Duluth, like Lawrenceville is in Gwinnett County.

Filed under: Bankruptcy News, Economic News — Tags: , — admin @ 1:03 pm

Berry and Associates Spotlight: Atlanta Bankruptcy Office

The Berry & Associates Atlanta office is the headquarters for our law firm. Within this office we have a team of experienced attorneys that can help with a Chapter 7 or Chapter 13 case. Don’t know which type of bankruptcy filing is best for you? Want to learn more about your finanical options? Ask our friendly legal team a question by calling 404-235-3328. We’ll be happy to help you.

This office is easy to find. Just off of I-85, we are minutes for I-75 and GA-400. Open 6 days a week, including Saturdays from 9-1, this office is the number one choice for many seeking the help of an Atlanta bankruptcy attorney.

2751 Buford Highway
Suite 400
Atlanta, GA 30324
Tel: (404) 235-3328


5 Steps to a Successful Chapter 7 Bankruptcy Discharge

Filing Chapter 7 bankruptcy in Georgia is about saving money. It’s no secret: bankruptcy solves problems, whether you have a home and car or not, whether you have a job or not, and no matter how much or how little you owe. But the discharge, the most important part of a Chapter 7 bankruptcy, takes legal help and knowledge. Hopefully this blog guide can give you some help and information when trying to eliminate debt.

Get the Right Lawyer

First off, you need an experienced Georgia bankruptcy lawyer. He or she is your right hand when it comes to discharging debt. A good lawyer has knowledge on the laws, such as Georgia bankruptcy eligibility, knows how best to discharge your main debts, gives you legal protection, and can stop creditor harassment immediately.

Know Your Rights
You have a right to file bankruptcy. It can save you from losing your home, car, and getting wage garnishments. Remember that bankruptcy is for more than those in debt; it can also help protect your home and car. You have options beyond Chapter 7, namely Chapter 13 bankruptcy. Sometimes you may not be eligible to file for Chapter 7, or maybe Chapter 13 is preferred in order to file.

You have a right to file bankruptcy, but sometimes Georgia state laws limit your choices. However, in most cases, it is your right to file for a bankruptcy discharge, save money, and protect your assets.

Discharge Major Debts
If you want to eliminate the most debts, you need to play your cards right. That means filing at the moment you have the most debt possible to discharge. Chapter 7 bankruptcy is all about timing; if you can file at the right time, you can use effectively. For example, you may owe only $10,000 in credit card debt, and have a job capable of paying this off in 3-5 years. However, you or a loved one have no medical coverage, and a huge bill is coming in the mail. In this case, by waiting until you get the bill you can discharge the most debt. You want to eliminate the majority of your debts, and this requires timing.

Protect Your Property
Chapter 7 bankruptcy may not be as effective in protecting your home and car, but remember you have Chapter 13 as an option too. Also, a little known fact is you can negotiate with creditors outside the bankruptcy. Say you file Chapter 7, and you have a home you want to keep. Because you may lose it in the bankruptcy, you can negotiate with the mortgage company outside the bankruptcy. If that does not work, you may also consider Chapter 13.

Avoid A Second Bankruptcy
Finally, filing bankruptcy should not be a regular event. You can only file so often too (every 8 years for Chapter 7). So take advantage of your right to bankruptcy only once. While sometimes a second bankruptcy is wise, if you can keep your finances in order, stay out of debt, and keep up on bills, you can avoid a second filing.


Timing, Money, And Atlanta Chapter 7 Bankruptcy

Bankruptcy solves problems. Thousands in Atlanta file successfully every year at the right time and save money. How much money? You can discharge most if not all your credit, medical, contract, and personal debts owed.

Though rare, a creditor can appeal your decision for being discharged of a debt. Since most filers make less than the average Georgia income, the amounts discharged are not necessarily huge. But cases of tens of thousands in credit card debt to hundreds of thousands in medical debts (common with lack of coverage) can and often are discharged at no cost to the filer.

For Atlanta residents stuck with debt, the good news is if you time this right, you can save quite a lot of money. You obviously save money by not having to pay these debts. This is no loophole; if you are eligible, you can save thousands of dollars.

Timing is important. If within the past six months you made more money than average for Georgia individuals or families, you cannot use Chapter 7. If you have enough disposable income, along with more money coming in from a job, you may be forced to file Chapter 13.

Because Chapter 13 has its own inherent advantages, consulting with legal help is smart. While many Atlanta families fall within the income limits for Chapter 7 bankruptcy, in some cases a Chapter 13 filing may be necessary or more effective.

Timing is also important on what debts you owe, what you do with what money you have, and what debts you can discharge. For example, you might be expecting an impossible-to-pay medical bill to come in because you lost your job and lack coverage. In this case, timing is critical to discharging the debt. If you file before the bill comes, you will not be able to discharge the debt. If you wait long enough, if possible, until you get the bill, it can save you a lot of money.

Thousands of Atlanta residents and over 1.5 million U.S. citizens have successfully used bankruptcy to discharge or repay debts in the pasty year. The great majority of these are Chapter 7 bankruptcies.

The reasons are clear: jobless rates and the mortgage depression have hurt many individuals and families. More have filed in the past 12 months since last July than filed bankruptcy in the 12 months before that. The numbers are up almost 20%.

What does this mean to you? Filing bankruptcy is not always about whose at fault and who spent too much money. Bankruptcy is part of the system, and a fact of life. If you have a family, if you just lost your job, if you fear losing your home to foreclosure, it’s time to speak with an Atlanta bankruptcy attorney.


Major Benefits of Atlanta Chapter 7 Bankruptcy

Filing bankruptcy in Georgia is unfortunately a bitter reality. Georgia has been in the top 5 for bankruptcies since the mortgage crisis began. What happened was sub prime mortgages, where people could no longer afford to pay on homes they likely should not have ever bought, forced many to start filing for help. Because of this, the economy was hurt, and there have been millions of bankruptcies since 2006.

There are some basic statistics on who’s filing for bankruptcy. The average filer is about 38, about half who file are couples, women file alone more than men, filers are actually better educated than most others, the majority have lost a job, and almost half have had major health problems. The numbers point out this isn’t only happening to one group, but to many. Both single men and women are filing, but a small percentage more are single women. Though job loss is a prime reason in many cases, the key result of many Chapter 7 bankruptcies in Atlanta and Georgia is a serious health problem which leads to medical bills.

That may all be a lot to swallow. Unfortunately, we are not quite through all of it, but in Georgia and other states jobs are starting to be created. More jobs mean more income which in turn means a better economy. Still, filing for bankruptcy is far from giving up. In fact, it’s about stepping up, deciding you want to rebuild, and taking the advantages.

What are the main advantages of Chapter 7 bankruptcy?

Medical Bills
If you got sick or someone you love got hurt, and you had no insurance, it’s very common to have tens of thousands in medical bills. Many have no medical coverage, and going to the emergency room or staying in a hospital for weeks can empty your checking account quickly. Chapter 7 bankruptcy can eliminate this debt in a matter of months.

Credit Card Bills
Just like medical bills, credit card debt can be discharged with a Chapter 7 bankruptcy. Many Atlanta residents had no problem with credit card payments until they lost jobs or were hurt. If you owe more money than you can ever pay, Chapter 7 bankruptcy is very smart.

Mortgage Debt

The bad news is you may lose your home in a Chapter 7 bankruptcy. The good news is that you can either negotiate to keep it or file for bankruptcy and discharge any debt you have. If you discharge the debt, you will likely lose the home and have to find a new residence. You do get some time before that happens. If you decide you want to file bankruptcy and keep your house, you can negotiate with the creditor and make payments on it.

No Job
If you have no job, Chapter 7 bankruptcy is very smart. You have little to no income coming in, so you rarely can pay on debts. Chapter 7 can discharge them and give you a fresh start. When you start working again, your paychecks can be used for something other than credit, medical, and mortgage debt.

It’s Cheap
Finally, it costs you a fraction of the amount for an Atlanta Chapter 7 bankruptcy than your debts actually are. You hire an experienced lawyer, and that does cost you money. You need an experienced bankruptcy lawyer who can make your case for Chapter 7 case successful. They cost about $1,000 to $2,000. Then you pay a court fee of $299. That’s it. You can have $50,000 in debt and be free of it for a fraction.


Is Bankruptcy Still a Problem for Atlanta Residents?

Yes, bankruptcy is still a major problem for not only Atlanta residents but also the state of Georgia and nationwide. A recent study published that bankruptcy filings in March of 2010 were not only the largest of the year, but also the largest in some time. 150,000 bankruptcies were filed in March of 2010 nationwide.

Why the spike?
A study by the National Bankruptcy Research Center pointed out how bankruptcies did increase between February of 2009 and March of 2009, but not nearly the same level. Traditionally, bankruptcies have spiked in March, but the increase between months in 2010 was over 20 percent, while between the months in 2009 the spike was only 5 percent. So 15 percent more filed between those months this year. The spike then may not be just seasonal. However, with jobs being created more in 2010 than in past years, there may be answers.

Who is filing?
Middle class consumers who have homes, moderate paying jobs, and common medical bills are the main people filing for bankruptcy.

What is the main cause of filing?
There are many different ways to look at this. Historically, job loss and wage deduction was a major reason for filing bankruptcy. Since the mortgage crisis, filing Chapter 13 bankruptcy was much more common. However, other studies have highlighted how medical debt is forcing thousands to file bankruptcy. So it would be safe to say medical, foreclosure, and job loss are the prime culprits.

Where are the answers?
The best news we have, especially in Georgia, is that new jobs are being created nationwide. It may seem odd that jobs are growing as bankruptcies increase, but it may portend to an improving economy. Also, Chapter 7 is still the main form of filing. Abut 75 percent of filings are Chapter 7, while Chapter 13 is only about 25 percent.

When will this slow?
If job creation continues perhaps home owners will be safer. With medical reform on the horizon, medical debt may be a thing of the past for many. While the economy improves, bankruptcies will still be a fact of life but perhaps less so.

How should you file?

You need an experienced bankruptcy attorney to take your case. Because Atlanta specifically has been hit hard by bankruptcies, especially because of subprime mortgages, you need to know your options. If you hire an attorney, he or she can walk you through the process. Chapter 13 bankruptcy is a solution for home owners as it can help you keep your home. Chapter 7 can eliminate the main reasons for filing: credit, medical, and mortgage debt.


Why Georgia Chapter 7 Individual Bankruptcy is a Fresh Start

Bankruptcy isn’t for everyone, and can be confusing. For Georgia residents,  the positives and negatives can be confusing. You may have no choice … you may have options … you may be scared … or you’re just ready to move on and get a fresh start. No matter your reason for wanting bankruptcy, clearly Georgia residents just like you are taking advantage of it. Why? Chapter 7 bankruptcy, the focus of this post, is very beneficial, especially when you break down the numbers.

-You can eliminate medical debt.
-You can discharge mortgage debt.
-Credit card debt can be completely discharged.

There are cases where you might desire filing in Georgia Bankruptcy Court with Chapter 13 bankruptcy. This too can give you a fresh start if you want to rework your debts, buy time to keep your possessions, and save your home from foreclosure.

Which is better, Chapter 7 or Chapter 13? In the past years, both have been used by millions across the country. And in Georgia, unfortunately the rates for both are have been high in recent years. Why are so many filing? Because quite often the advantages outweigh the disadvantages.

Chapter 7 bankruptcy does more than eliminate debt. It can also buy you time to stay in your home with what’s called an “automatic stay,” it can immediately stop creditor harassment, and you can get that fresh start.

Chapter 7 bankruptcy can save both individuals and families.

Families can file joint bankruptcy to consolidate debt. It’s far better than working with a debt consolidation company. If a wife loses her job, and the husband cannot support the family and pay debts on his own, Chapter 7 bankruptcy can discharge thousands if not tens of thousands in debt. Even better news, rarely will Georgia bankruptcy filers lose any assets.

What happens is you hire a bankruptcy attorney, file for Chapter 7 in the Georgia Bankruptcy court in your area, and meet with a trustee. This trustee will hold what’s a called a 341 meeting, where you appear and answer questions regarding your filing. In this short session, with the help of a Georgia attorney you will confirm your right to filing Chapter 7.

Once you get it over with, your debts can be discharged in a matter of months. In Chapter 13, it typically takes 3-5 years for the debt management plan, and you have to pay back debtors.

One negative often addressed is that you may lose valuable assets such as your home and car. True, the trustee can sometimes sell these in order to pay back your debts — that’s his or her job. However, rarely does this occur, and you can often negotiate with the trustee yourself to pay the debt for our car or home and keep it.

As you can see, Chapter 7 bankruptcy should not be  scary. It’s a decision thousands of Georgia residents make every year.  You can get the fresh start and lose practically nothing.


Advantages of Hiring an Atlanta Chapter 13 Bankruptcy Attorney

If you file with the Georgia Northern District Bankruptcy court, you’ll see how complex the process can be. Who can help?

No matter your personal bankruptcy choice — Chapter 7 or Chapter 13 — you might wonder how a lawyer actually helps. With Chapter 7, it’s clear that the 341 meeting, where you’re asked questions and creditors can optionally participate, is about gathering information. If you fear you’ll lose assets, you may consider filing Chapter 13 Atlanta bankruptcy.

Why file Atlanta Chapter 13?
Since Atlanta as a city has very high foreclosure rates in the past years, Chapter 13 is being recommended by expert lawyers to help residents save their homes. Simply put, Chapter 13 bankruptcy  is the best way to save your home. For Atlanta residents, there are details.

You must be eligible. You must create a repayment plan. And you will have to appear in court to explain your situation.

According to the U.S. government, “Any individual, even if self-employed or operating an unincorporated business, is eligible for chapter 13 relief as long as the individual’s unsecured debts are less than $360,475 and secured debts are less than $1,081,40.” Secured debt  would be debt backed up with collateral,such as your home. Unsecured debt is the opposite: you are backing it up with nothing.

The debt management plan includes details on what creditors you owe money to, how you intend to pay, among other things. This will be how you intend to stay solvent on paper.

What does an Atlanta Chapter 13 lawyer do?

Say you want to know more about the process of Atlanta Chapter 13 bankruptcy. Who do you call? You can find information online, but you really need an experienced attorney to help with your case. For example, you may not be eligible for Chapter 13, but Chapter 7 is wise (or the other way around). Also, in Chapter 13, usually in about 30 days you have a 341 meeting with the U.S. trustee. An experienced attorney can help you in in the meeting and make sure your proposal for debt management is sound.

The attorney can do far more than answer questions. A good one will help you with the proposals, documentation, requirements, and save you time and money doing so.

How will creditors act?

Creditors are technically still going to get their money in most cases. If you have difficult creditors, an experienced Atlanta Chapter 13 attorney can handle them for you. They do have the option to appear with the trustee at the 341 meeting, but most don’t. You will rarely have any more dialogue with creditors you owe money to after any form of personal bankruptcy, usually during it too.

How do you get started?
To get started, you should hire an experienced attorney, prepare all necessary documentation, pay the fee for filing, and create a proposal for your debt management plan.

Is an Atlanta Chapter 13 bankruptcy lawyer really important?

Finally, the question may come up: can you do all this alone? Yes, you can. Even if you have legal experience, the paperwork, 341 meeting, creditors, and dangers of making mistakes, however, are far too great to ignore. Atlanta Chapter 13 bankruptcy will change your  life, and is important for your financial future. Hiring an experienced attorney makes the process much easier.


Bankruptcy in Georgia

The good news is Georgia foreclosures and bankruptcy rates, though still a problem, are starting to look better. In 2009, Georgia and more specifically Atlanta had some of the highest rates of foreclosure in the country. And bankruptcy, sometimes as an effect of foreclosure, was common.

This is not to say filing bankruptcy is always to be avoided. In tough economies, when you lose your job, when a foreclosure is close and you want to save your home — these are some of the many cases where filing bankruptcy can be beneficial.

So how do you declare bankruptcy in Georgia?

Some of it’s the same as all other states, but depending on where you live, you’ll either file in Georgia Northern Bankruptcy Court, Georgia Southern Bankruptcy Court, or Georgia Middle Bankruptcy Court. If you live in Atlanta and want to file Chapter 13 or Chapter 7 bankruptcy, for example, you would go to the Georgia Northern Bankruptcy Court.

Now that you know where to go, it’s time to find out how to actually file and successfully declare bankruptcy.

Collect Personal Financial Information
First, you want to collect certain personal information. For personal bankruptcy, you need to show financial information, secured and unsecured debts, tax returns for the last two years, deeds to real estate, car titles, and loan documents.

You may be wondering, what are secured and unsecured debts? Secured debts are debts you have with collateral such as your home and car; unsecured debts are other debts such as credit cards where there is no home or car to be used as collateral on the debt.

Complete Bankruptcy Forms
At this next stage, you should consult with an experienced Georgia bankruptcy attorney in your area. You want one who specializes in personal bankruptcy. Why? You will have to complete some complex bankruptcy forms; you can write them yourself, but it might be wise to hire a professional so you don’t make mistakes. You will also be paying the fee for personal bankruptcy — either $299 for Chapter 7 or $274 for Chapter 13.

File with Local Bankruptcy Court

The next step after filling out all the necessary forms is to file with the court. This is the easiest step. And after you reap the benefits of bankruptcy.

After Filing
The best part of filing personal bankruptcy is what’s called an “automatic stay,” which goes into effect after you file with the Georgia court. Creditors can no longer contact you regarding claims on debts. For Chapter 7, a trustee will be appointed to liquidate your assets and pay off creditors; in most cases, you lose nothing, but some do lose assets such as a home and car. For Chapter 13 bankruptcy, the automatic stay is much more powerful. This is because if you can catch up with the mortgage payments and stay on time paying them, you don’t have to worry about being evicted. In Chapter 7, you do get several months time, but you will likely have to find a new residence.

Who You Should Hire

This may all sound complex, and it filing bankruptcy can be. With the help of an experienced Georgia bankruptcy attorney, you can create the best strategy for you. You have a very good chance of losing absolutely nothing, and pay a small price for all the benefits. If you’re considering filing, don’t wait too long; hire an experienced bankruptcy attorney today.


How to Work with a Georgia Chapter 13 Bankruptcy Attorney for Success

How do you successfully file for Chapter 13 bankruptcy in Georgia? With an attorney’s help is the best way.

Why? Filing any form of bankruptcy requires a lot of work. Not only do you need someone to submit all the documentation, but you also need someone to handle the in court case, help you decide your options, and educate you on the process.

Chapter 13 bankruptcy, unlike Chapter 7, is a lengthy process. Chapter 13 typically takes 3-5 years before it’s over. Filing under Chapter 7 takes a matter of months.

What is Chapter 13 bankruptcy?

Chapter 13 bankruptcy is more common than ever because of new bankruptcy laws, as if you have a median income too high–over about $40,691 in Georgia for a single filer–you are not eligible for Chapter 7 bankruptcy. Many, however, want Chapter 13 bankruptcy.

Chapter 13 bankruptcy is a debt repayment plan which buys you time to pay back major bills. For example, if you are behind on your mortgage payments, falling into credit card debt, and your options of paying them in the short term are dismal, Chapter 13 can help. This is where the length of the process is advantageous. The reason Chapter 13 takes 3-5 years is that’s the time allotted to you to pay back outstanding debts.

Advantages of Chapter 13 Bankruptcy
Since residents of Georgia sometimes make too much money to file Chapter 7, it’s clearly important to know why Chapter 13 bankruptcy is still a good option. Say you are behind on your bills, you make over $41,00 a year as a single resident of Georgia, creditors are harassing you, and you fear home foreclosure. Your best option may be to file for Chapter 13, mainly because you can buy time to pay back outstanding bills, save your home, stop any wage garnishments, and effectively stop creditor harassment of all kinds.

Hiring a Georgia Bankruptcy Attorney
Since these laws change and can get complex, it’s clearly just as important in Georgia Chapter 13 to hire an attorney as Georgia Chapter 7. A professional attorney can see what you’re eligible for, tell you your best options, help you save your home from foreclosure, stop all creditor harassment, and give you the peace of mind of being able to pay bills.

If you’ve never been in court, you might fear standing in front of a judge and pleading your case. While Chapter 13 you must be present, with a bankruptcy attorney working with you, what you’re needed to do is minor.

Clearly, filing bankruptcy is a big step. And just as you would not handle a major lawsuit against you alone, you also should hire a professional Georgia bankruptcy attorney for help. This could impact your finances for the rest of your life.




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