The only bidder on the property was CRM Central Properties LLC, a division of Suntrust Bank which held the mortgage that forced the foreclosure sale.

The site, in front of State Mutual Stadium where the Rome Braves play, was originally meant to be a Hooters Restaurant but those plans were scuttled after the local franchise ran into financial difficulty in 2008.

With unemployment in Rome, Dalton and the surrounding area higher than anywhere else in Georgia, it isn’t suprising that more people are going to school than before.

I just hope that those going back to school are taking advantage of as many grants and low cost solutions as possible and not sinking themselves into a hole with student loans to support them.

Should their income after training not increase enough to allow repayment of any student loans they receive, there are few solutions.

Bankruptcy will not discharge student loan debt unless the petitioner can show that repayment causes an “undue hardship.” 

While paying hundreds of dollars a month in student loan debt when you can’t afford to pay for food, rent and car payments may seem like an undue hardship to you, bankruptcy judges may think otherwise.

I hope that everyone is considering the consequences of borrowing to go to school.

Georgia ranks number three in U.S. bankruptcy filings, according to statistics released recenlty by the U.S. Courts System.

Our attorneys will help you select the best bankruptcy option for your situation, and ensure that all of your creditors are included in the debt relief settlement. They will guide you through the complexities of this difficult decision, including mapping out every step you must take to qualify for bankruptcy protection and appearing with you in court.

Federal law requires that your debts are a financial hardship beyond control. Common situations that create such circumstances include:

• Loss of employment,
• Medical bills,
• Stopping foreclosure on your home, or
• Divorce.

We understand that your situation is unique, and you may be experiencing any number of the common or other financial hardships. We are here to help you change your situation and gain control of your debt.

The Georgia Labor Department issued its report on unemployment claims in January leaving many wondering when the joblosses will end.

The state’s seasonally adjusted jobless rate came in at a record 8.6 percent, the highest since the U.S. Department of Labor standardized the way unemployment rates were calculated across the states.

According to the Georgia Labor Department, 412,770 unemployed Georgians are looking for work, an increase of 62.9 percent over the year. Of that number, 183,829, or 44.5 percent, are receiving unemployment insurance benefits.

High jobless numbers have also translated into large numbers of consumer bankruptcy cases. Georgia ranked third in the nation with per capita bankruptcy filings.

According to the U.S. Bankruptcy Courts, there were 6.35 bankruptcy filings for every 1,000 residents of Georgia. Tennessee and Nevada topped out the list with 7.65 and 7.2 bankruptcy filings per 1,000 residents.

Court records showed that 1,074,225 personal bankruptcy cases were filed in 2008. That is the largest number of bankruptcy filings since Congress passed changes to bankruptcy law in 2005 limiting the debts that could be discharged and setting income limits for Chapter 7 bankruptcy protections.

The number of foreclosures in Cherokee County north of Atlanta quadrupled in 2008, according to John Adams, the county’s chief assessor.

There were about 1,900 foreclosures in Cherokee County, compared to the 400 to 500 officials say they see most years. Adams said that the high number might have a bearing on assesments, according to an article that appeared in the Atlanta Journal Constitution.

Foreclosures typically drive down the price of homes near them. Market value plays an important part in tax assessments.

The county had enjoyed rapid increases in the value of its tax base over the last few years, according to Cherokee County Commission Chairman Buzz Aherns. 

Efforts by President Obama’s administration to stem the rising tide of foreclosures are likely to be a hit with local governments across the country that depend upon property taxs to generate revenue.

A report in the Atlanta Journal Constitution says that Hill was recently ordered by his bankruptcy trustee to turn over $25,000 in cash that was in a day-trading account set up for an on-line stock trading company incorporated in Nevada.

The former sheriff filed for bankruptcy two days before his term expired Jan 1 of this year. He lost his bid for reelection in an August run-off of last year’s Democratic primary. A number of federal lawsuits and other issues clouded Hill’s term in office.

But all of that is beside the point. When filing bankruptcy, the trustee and bankruptcy court will have access to all of your financial information. Attempting to hide cash or other assets is not a good idea. You could be making an enemy of the very system that you are reaching out to for help.

Bankruptcy laws are designed to shield some assets so that a person can start their life over fresh. In some cases, the assets may be exempted from the bankruptcy estate. A bankruptcy lawyer can explain how to best protect your property and assets.

Knowing nothing about Hill’s case personally, I can only imagine that his attorney knew nothing about the money in question. In order to have the best representation possible in your bankruptcy case, it is vital that you are open, forthright and honest about your situation with your bankruptcy attorney.

The non-profit organization that provides assistance to persons across the country in financial crisis said that 509,718 persons attended classes or received counseling last year, up from 403,763 in 2007.

Officials said that they expect to serve 700,000 people in 2009 due in large part to the worsening economic conditions and housing crisis.

Counselors at the agency provide individuals with information and assistance with credit issues, bankruptcy, budget and housing.

The number of homeowners served by the organization has skyrocketed since the housing bubble burst in 2006, growing 9,668 to 73,573 in 2008.

If your life revolves around your debt, you should seek counseling or speak to an experienced bankruptcy attorney to learn what your options are.

Filing a Chapter 13 bankruptcy case can prevent foreclosure on your home. It will allow you to restructure your back payments into an affordable payment plan that will allow you to pay off the arrears over a three to five year term.

Once the case is filed, if you are able to continue to make your payments and the payments on the arrears, you will be able to keep your home.

Contact a bankruptcy attorney and learn how Chapter 13 bankruptcy can stop foreclosure on your home.

We will also provide you with information about bankruptcy that will help you to make the right decisions for your financial well-being. Bankruptcy may not be the most satisfying solution to your financial problems, but it might be the most responsible one for you and your family.

Bankruptcy protections can stop foreclosure on your home, stop unsecured creditors from harassing you and restructure your debt to be paid off in a shorter term.

Understanding bankruptcy can be difficult. That is why you need the experienced attorneys at RomeBankruptcy.com to help you assess your situation and chart the best course of action.