Matthew T. Berry Bankruptcy Law Blog on Lawyers.com

The answer is a difficult one.  But this week, an article ran in the Atlanta Journal Constitution about a new proposal for a casino to be built at Atlanta Underground.  According to the article, partners for the popular Atlanta attraction outlined a $450 million proposal to add upscale restaurants, retail stores, a hotel, and 5,000 video lottery terminals. 

It’s exciting to think what impact this kind of development could have on those struggling to pay their bills.  Certainly, many in Atlanta have been hit hard by the economic crisis.  Bankruptcy filings in Georgia are at all time highs, and foreclosures are rising daily.  The mass creation of jobs would be a welcome relief to many families in this region. 

Of course, there are also those that say gambling will create more problems than it would solve.  A recent study conducted by the president of PKF Hospitality in Atlanta may provide ammunition for their position.  It found that states with gambling at least initially saw increases in crime, bankruptcies and divorce.

At Berry & Associates, we will continue to monitor the economic climate in Atlanta and Northern Georgia, as well as things that may impact the community.  We will also continue to stand shoulder to shoulder with those needing a fresh start as provided by the bankruptcy laws.

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