Atlanta Bankruptcy Attorney Blog

They're right when they say your credit score won't be the same after bankruptcy - chances are, it will be better.

Despite the pervasive myth that bankruptcy will leave a permanent mark on your credit, those who file can still reach numbers of more than 750 - the Holy Grail of FICO scores, says an expert at Bankrate.com. While it is true that your score will drop immediately after filing, it can then begin a steady increase as the bankruptcy process helps you get your finances back under control. Want your credit score to climb even faster? Here are a few tips from Atlanta bankruptcy attorneys.

Continue reading "How the Bankruptcy Process Really Affects Atlanta Consumers' Credit Scores" »

You can't always get what you want. But if you try sometimes, well - you know how the song goes - you just may find you get what you need.

The Rolling Stones must have known what many folks are just learning today thanks to the recent recession - a little effort goes a long way, at least when it comes to lowering rates. According to Yahoo Finance, service companies are increasingly allowing customers to name their own price. The only catch? You have to give them a call, say Atlanta bankruptcy attorneys.

Continue reading "Atlanta Customers Call Service Companies To Snag Lower Rates" »

Most of the time, it's a good idea to listen to age-old advice. When it comes to your finances, though, you might want to think twice, caution Atlanta bankruptcy attorneys.

It's not that there's anything wrong with long-held personal finance beliefs, like the idea that you should pay down debt before saving up. It's just that even the most classic wisdom can backfire in certain circumstances, according to a recent article by TheStreet.

The problem is that everyone's financial situation is different.

Continue reading "Money Myths That Can Make Your Debt Situation Worse" »

Uncle Sam was hoping a recent tax cut would get pumped back into the economy - but it looks like it might just get pumped into our gas tanks.

In December, President Obama signed a payroll tax cut that would slash Social Security withholdings from 6.2 percent to 4.2 percent in 2011- essentially a 2 percent annual raise. But just as the cut started taking effect this month, gas prices began climbing upward. Prices today are 37 cents a gallon more than they were at this time last year. And economists estimate that more than half of all drivers will have to adjust our finances accordingly, say Atlanta bankruptcy attorneys.

Continue reading "Atlanta Consumers Look For Ways To Pay Increasing Gas Prices" »

I always thought senior citizens spent their retirement golfing and gardening. Turns out they spend it much like the rest of us - stressing over how to pay growing bills.

Since the recession began, the number of senior citizens filing for bankruptcy has skyrocketed. Expensive prescriptions, decreasing home values and stock market crashes have left today's grandparents with tens of thousands of dollars in debt - and with no income to pay it off. That means that eventually their burdens will get passed on to us, say Atlanta bankruptcy attorneys.

Continue reading "Why More Senior Citizens Are Filing For Bankruptcy In Retirement" »

It looks like the new year is already bringing new costs - and there's no getting around at least one of them.

If gas gets too expensive, we can take the bus. When our bank adds new fees to our checking account, we can switch banks. But when the price of food goes up - as it has recently - we can't exactly stop eating. Fortunately for those of us already drowning in debt, there are choices we can make to lessen the blow, say Atlanta bankruptcy attorneys.

Continue reading "Atlanta Consumers Feel the Pinch at the Grocery Store As Food Prices Increase" »

Atlanta residents might not be looking forward to paying taxes on April 15. But hey, at least Georgians don't have to worry about a state income tax increase like the ones in California and Illinois - and potentially a handful of other states with major budget gaps.

That said, paying an ordinary tax bill is no cakewalk in today's economy. On the one hand, many Americans will save a little bit of money thanks to the Social Security payroll tax cut President Obama signed last December. On the other hand, years of tough financial times and growing debts are really starting to take a toll on U.S. consumers, say Atlanta bankruptcy attorneys.

Continue reading "Many Americans Will Struggle to Pay Taxes Amid This Year's State Income Tax Hikes" »

Millions of Americans are about to finally get a pay raise. But here's the really surprising part - millions aren't even going to realize it until the money's all gone.

If you haven't already heard, President Obama signed a payroll tax cut into law in December. Starting this month, just 4.2 percent--instead of the typical 6.2 percent--will be withheld from your paycheck for Social Security. That means you'll get to keep the extra 2 percent--or about $1,000 for a person earning $50,000 a year ($2,000 if you also have a spouse who brings home 50K). But because the money will be divided throughout the year among your paychecks, chances are most people won't even notice the increase--and therefore won't spend it wisely, say Atlanta bankruptcy attorneys.

Continue reading "Increase the Impact of Your Tax Cut By Paying Down Debt" »

Why should homeowners in Atlanta care about a foreclosure in Massachusetts?

Because a recent court ruling there could have a drastic impact on foreclosures in the future, affecting the entire U.S. banking industry - and millions of Americans currently at risk of losing their homes, say Atlanta bankruptcy attorneys. Last week the highest court in Massachusetts reversed foreclosures on two residences because the banks could not prove they held the mortgages at the time they seized the homes. Experts say the decision could set a precedence for increased consumer protection.

But that doesn't necessarily spell good news for homeowners facing foreclosure.

Continue reading "Court Ruling Could Affect Foreclosure Process for Atlanta Homeowners" »

How would you like to get money back on qualifying purchases? Or transfer your high-interest balance to a card with 0% interest for an introductory period? Credit card companies are betting that you'll say yes.

After a few years of tightening up credit during the recession, creditors are courting customers more aggressively than ever - in fact, credit card offers almost doubled last year, according to a recent study. And the deals seem sweeter than they've been in a long time - we're talking tons of new rewards cards, low-cost balance transfers, longer introductory periods and, of course, limitations on fees and interest rate hikes thanks to last year's consumer protection legislation. But all is not what is seems, say Atlanta bankruptcy attorneys.

Continue reading "Why Atlanta Consumers Should Weigh Pros and Cons of New Credit Card Offers " »

Hoping for a lower house payment but not sure if you qualify for a refinance? You've still got options, say Atlanta bankruptcy attorneys.

With interest rates still relatively low, many homeowners are trying to refinance for a better payment and terms. Unfortunately, not many actually succeed. Not only is the process of refinancing expensive and time-consuming, it's also increasingly exclusive. Thanks to tightening credit requirements, it's almost impossible to qualify for a refinance without a good credit history and a well-paying job. But that doesn't mean you have to keep struggling to make your current mortgage payment.

Continue reading "How Atlanta Homeowners Can Lower House Payments Without Refinancing" »

A little mystery can be a good thing, at least when it comes to relationships, birthday presents and detective novels. But when it comes to your finances? Not so much.

For many folks, bankruptcy represents the unknown. We have a hunch that it could drastically lower our debt, but we continue to avoid it for fear of those nagging bankruptcy myths: Won't it leave a black mark on our credit report for the next decade? What will our family and friends or - worse - our employer think? Will the repo man come take away all our stuff? Unfortunately, most Americans do more damage to our finances by avoiding bankruptcy than by filing for it, say Atlanta bankruptcy attorneys.

Continue reading "Bankruptcy Myths Help Keep Consumers in Debt" »

You've made the resolution to get out of debt this year. Now comes the hard part, say Atlanta bankruptcy attorneys - sticking to it.

If merely wanting a goal was enough, we'd all be skinny, rich non-nail biters. Obviously that's not the case. In reality, most folks fail to keep New Year's resolutions because their plans don't adhere to the "three Rs," according to CreditCards.com. If you want to improve your finances this year, you need a blueprint that's reasonable, realistic and rewarding.

Continue reading "Debt-Free in 2011 Part II: How to Stick to Your Goals " »