Atlanta Bankruptcy Attorney Blog

As if it's not bad enough that we may fall victim to yet another recession, we also have to worry about falling victim to double-dip scams.

With the economy looking poised to take another nosedive, more folks than ever are dealing with recession-related difficulties - things like getting laid off, losing our homes to foreclosure and struggling to pay the bills. And scam artists are taking full advantage, say Atlanta bankruptcy attorneys. Fraudsters know many of us will do anything to earn a steady paycheck or save our home, including giving them our hard-earned dollars.

Fortunately, there's a way to tell the scams from the real deal.

Continue reading "Ways Atlanta Consumers Can Avoid Double-Dip Recession Scams" »

You win some, you lose some - at least, that's the way it seems with this year's new credit card laws.

On the one hand, recent consumer protection rules will give consumers a chance to get current on credit card payments and remedy mistakes before they're hit with penalties they can't afford, like suddenly rocketing interest rates. On the other hand, with banks unable to increase rates and fees on delinquent borrowers, they're increasing rates for everyone. That means paying more interest on your debt, even when you pay the bills on time.

Continue reading "Atlanta Consumers Faced With Higher Credit Card Interest Rates" »

It's probably no surprise that making the switch from name brands to generics can save you a bundle. But despite the still-dragging economy, some Atlanta consumers are continuing to hold out.

Yes, it's true that some generic brands don't get the job done as well - think scratchy toilet paper and leaky baby diapers. But the vast majority of store-brand goods perform the same function at a fraction of the cost, potentially saving you thousands of dollars a year, say Atlanta bankruptcy attorneys. That's nothing to sniff at when you're looking for ways to pay down debt.

Continue reading "Can Purchasing Generic Brand Products Help You Lower Debt?" »

Up until now, banks have been the bad guy in the mortgage crisis. But it seems like America's most hated corporations are finally trying to redeem themselves.

Banks are working to offer better loan modification programs to troubled borrowers, according to a recent article in Newsweek. And the timing couldn't be better, with recent reports that half of homeowners in the government's Making Home Affordable program ended up throwing in the towel. Unfortunately, banks won't be able to help every one of the millions of homeowners at risk of foreclosure.

Continue reading "Bank Programs Offer More Flexible Loan Modifications Than Making Home Affordable" »

Look at it as flowers rising from the ashes: despite two-plus years of tough economic times, Americans have managed to significantly lower credit card debt.

The credit card debt of an average family is less than $5,000 - the lowest level in eight years and more than 13 percent less than just last summer, according to the Associated Press. To top it off, more credit cardholders are paying their bills before the due date. It looks like all that coupon clipping and budgeting is slowly paying off - at least for most people. However, some of us are making a dangerous trade-off, say Atlanta bankruptcy attorneys.

Continue reading "Some Atlanta Homeowners Swapping Mortgage Payments for Credit Card Bills" »

With half a billion people using Facebook, it almost seems like a crime not to join the social networking site. But in fact, that might be the best way to avoid crime.

Most of us don't think twice about posting our names, photos, birthdays - even the week we're going to be gone on vacation - to our Facebook page. After all, what's a little sharing between friends, right? But we forget that millions of other people can see that info, too, say Atlanta bankruptcy attorneys. And with looser privacy settings, more folks than ever can access our personal information - putting our finances at risk.

Continue reading "Protecting Privacy Can Help Atlanta Facebook Users Avoid Financial Scams" »

Most of us don't think twice about paying for health, home or life insurance - and that's a good thing. The problem is when we don't think twice about paying for collision, identity theft, or cell phone insurance.

There are financial products that are worth the risk, and those that aren't, according to a new list by Consumer Reports. And if we take the time to weigh the pros and cons - instead of blindly buying what companies tell us to - our savings might well exceed the extra gamble, say Atlanta bankruptcy attorneys.

Continue reading "Living Without Phone Insurance and other Financial Products Can Save Money" »

Until now, credit cards have been both a blessing and a curse for consumers - a blessing because you can use them to buy what you need without cash, and a curse because they make it so easy to buy things you don't need without cash.

But all that could change thanks to inControl, a new program by MasterCard that would allow shoppers to set a monthly credit card limit for particular types of stores or purchases. When your limit is reached, your credit card simply stops working - no overspending allowed. If you've ever had trouble sticking to a budget, this might just be your ticket to financial freedom.

Continue reading "Can Setting Credit Card Limits Stop Atlanta Consumers From Overspending?" »

If you've managed to keep your job in this economy, you probably already consider yourself lucky. But now consider yourself luckier.

As it turns out, the recession might actually offer positive benefits to the employed. According to the New York Times, wages are up, inflation is down and layoffs have all but leveled out. That means that, if you play your financial cards right, you might be able to walk out of the Great Recession in better shape than you walked into it.

Continue reading "Slow Economy Might Pay Off for Atlanta Workers" »

Would it make you happy if I told you that you'll be getting a raise? How about if I said you've won the lottery? If you're like most Americans, the answer is a resounding yes.

But, believe it or not, the recession has revealed a little secret about the key to happiness, according to Atlanta bankruptcy attorneys. Sure, having more money in your pocket can help you put gas in your car, groceries in your cart and bills in the mail. But, as it turns out, having more money to spend probably won't make you happier.

Continue reading "How Spending Less Can Lead to Greater Happiness for Atlanta Consumers" »

The number of underwater mortgages is finally going down - but those of us facing foreclosure aren't out of the woods yet.

In a rare bit of good housing news, Zillow.com recently announced that the amount of homeowners with underwater mortgages - in other words, those of us with a home worth less than what we owe on our mortgage - decreased from 23 percent to 21 percent in the last quarter. Fewer homeowners with negative equity means we might finally start seeing less foreclosures in coming months, according to Atlanta bankruptcy attorneys.

On the other hand, that doesn't do much to help folks currently - or soon to be - at risk of foreclosure.

Continue reading "Filing for Chapter 13 Bankruptcy Can Stop or Prevent Foreclosure for Atlanta Homeowners" »

There's good news and bad news about rewards cards.

First the good news. Despite worry that banks would start ditching rewards cards to make up for their reduced ability to charge fees under the Credit Card Act, most banks haven't changed their programs, say Atlanta bankruptcy attorneys.

The bad news? Rewards cards can be a little bit tricky - sometimes they help you save money, sometimes they make you pay.

Continue reading "Rewards Cards Can Still Pay Off for Careful Consumers" »

By now it's no secret that Americans are cutting back to save money - with most of us struggling to manage our mortgage payments, credit card bills and other debts, it's not like we have a choice.

But while we've cut out obvious costs like gym memberships, cable and land lines, many of us are missing smaller, less visible opportunities to save. But sometimes those little things add up enough to put us back in the black, say Atlanta bankruptcy attorneys. Take the following examples.

Continue reading "Small Savings Adds Up to Large Debt Relief for Struggling Atlanta Consumers" »

The price of gas is always going up - but lately, it's getting especially high for some debit card users.

That's because more and more folks who use debit to pay at the pump are becoming victims of identity theft, according to Atlanta bankruptcy attorneys. Criminals can now attach a device called a skimmer to gas pumps. When you enter your card and PIN, a tiny camera in the skimmer reads the information - and gives scammers all they need to take money right out of your bank account. When you're already low on cash and struggling to manage your debt, having some thief steal your hard-earned dollars is like rubbing salt in the wound.

Despite its risks, debit can be a more responsible alternative to credit. The key is to be careful when and where you use it.

Continue reading "How Atlanta Debit Users Can Avoid Identity Theft at the Gas Station" »

Being optimistic is one thing; being in denial is another. And unfortunately, it seems that millions of American workers are currently in denial about the job market.

It's not that folks are naïve enough to think they won't lose their job. On the contrary, 55 percent of Americans are worried that they could soon be out of work, according to MSNBC.com. And for one in 10 of us, that worry will come true.

The problem is that - even though we know getting laid off is a distinct possibility - we aren't doing anything to prepare for it. But by not preparing for it, we're making the worst case scenario, well, worse.

Continue reading "Building an Emergency Savings Fund Can Help Atlanta Workers Survive Job Loss" »