As most Atlantans already know, the poor economy and real estate market is hitting Atlanta very hard. In fact, a new article states that Atlanta has one of the highest consumer bankruptcy filings in the country. http://blogs.wsj.com/economics/2010/08/04/bankruptcy-filings-drop-in-the-south/
According to the article, much of these filings were the result of borrowers being unable to keep up with their mortgage payment, and were forced to turn to bankruptcy in order to get out of their financial situation. Unfortunately, by the time the bankruptcy has been filed, there is little or nothing that an experienced bankruptcy attorney can be do to assist them in adequately protecting their assets because many of them have already spent their last dime trying to dig themselves out of their hole.
This sad fact serves as a reminder to those who are currently experiencing financial difficulties to seek the advice of an experienced bankruptcy attorney as soon as possible so that you know what your options are.
