Atlanta Bankruptcy Attorney Blog

Dealing with your own debt is difficult enough as it is. Why should you be harassed about someone else's?

It's not an uncommon scenario, say Atlanta bankruptcy attorneys. Even I've experienced it. Whoever had our phone number before us - a woman named Brandi - must owe some money, because when we first moved into our house we got several calls a week from debt collection companies. Fortunately, the calls have almost entirely stopped since we said we did not know anything about Brandi or her debts. But many of us have heard horror stories about (or have first-hand experience with) bold bill collectors who didn't give up quite so easily.

Continue reading "When Someone Else's Debt Burden Becomes Your Problem" »

It turns out that filing your income taxes can save you money - even if you don't get that refund.

Have you ever gotten a late fee, but not remembered missing the payment? Have you ever gone to return something you just bought - and found you've already lost the receipt? Tax season is the one time when we're forced to organize our receipts, bank statements, and other important documents. If you can figure out how to maintain that organization all year, not only will you be more prepared when the next April 15 rolls around, but you'll have an easier time paying your bills on schedule, making a budget, and even improving your credit, say Atlanta bankruptcy attorneys.

Continue reading "How Atlanta Taxpayers Can Lower Debt By Getting Organizing For Taxes" »

When debt is spiraling out of control, the first thing most folks do is cut out unnecessary purchases. But for a population of consumers known as binge shoppers, it's just the opposite, say Atlanta bankruptcy attorneys.

Similar to the way a person trying to lose weight might pig out on a whole cake or bag of potato chips, binge shoppers blow off steam by hitting the stores. The average person can turn that out-of-control feeling that comes from opening a too-big bill into motivation for getting a better grip on our finances. But emotional spenders deal with the stress by increasing unneeded expenditures - more shoes, more electronics, more toys for the kids, more stuff for the house, more of everything.

The high shoppers get is a momentary escape from the reality of debt - with 'momentary' being the key word here.

Continue reading "Shopping Binges Make Debt Worse For Overspending Atlanta Consumers" »

At first glance, this year's average tax refund of $3,000 might seem like a lot - but for most Americans, it won't last long.

If you simply put your check in the bank, it won't be long before its whittled away by things like rising gas prices and food costs, growing credit card bills and health insurance premiums, and the occasional shopping spree. But there's a way that many of us can stretch our refund, say Atlanta bankruptcy attorneys. How? By using it to get rid of current debt - and prevent future debt.

Continue reading "How Atlanta Taxpayers Can Boost Their Tax Refund" »

Has grocery shopping been leaving you with sticker shock lately?

You're not imagining things - food prices are creeping upward thanks to a variety of factors, from higher oil prices to rotten weather. To make matters worse, most Americans are still reeling from the recession and dealing with debt. Today's rising food and gas prices can feel like the last straw. But while we can't exactly cut food out of our budget, we can lower costs, say Atlanta bankruptcy attorneys.

Continue reading "Atlanta Consumers Battle Rising Prices At The Supermarket" »

The average rewards card is designed to get consumers to use more credit. But what if it were the other way around?

A new credit card introduced by TD Bank offers an incentive for credit users to lower debt. Instead of giving perks for travel or shopping - which encourages customers to pull out the plastic - this 21.24% APR card offers an interest rate discount for paying more than the minimum each month. In theory, consumers will have more reason to save their money for paying off debt, say Atlanta bankruptcy attorneys.

Continue reading "New Rewards Card Helps Atlanta Consumers Lower Interest" »

It's been two years since the Credit CARD Act was passed and it seems that credit card interest rates have gone nowhere but up.

Despite the common belief, the legislation didn't put a limit on rates - only the way in which credit card companies could charge them, explain Atlanta bankruptcy attorneys. Today, creditors are not allowed to retroactively hike rates whenever they please. Instead, they must state the rate upfront - only raising interest when a customer makes a late payment. In response, banks are offering cards with much higher upfront rates - like the 59.9% APR offered First Premier. And if you think consumers won't go for it, think again. First Premier has issued 700,000 of its high-rate cards - and counting.

Continue reading "High Interest Credit Cards Lure Atlanta Consumers Struggling With Debt" »

Could it be that having a good credit score isn't all it's cracked up to be?

A recent story by Forbes.com explores the idea that Americans are so brainwashed to believe we need to achieve the perfect credit score that we're actually making our finances worse. How? By forgoing things like saving for retirement and paying down credit card debt, explain Atlanta bankruptcy attorneys.

Most Americans mistakenly believe that carrying a credit card balance is the best way to boost a credit score. As a result, millions of Americans are paying high interest on credit card balances that will take decades to pay off without help from bankruptcy.

Continue reading "Why Credit Scores Don't Always Matter For Atlanta Consumers" »

Forget a box of chocolates. The best present you can give your significant other this Valentine's Day is your faithfulness - financial faithfulness, that is, say Atlanta bankruptcy attorneys.

Relationships these days are just as likely to be damaged by financial cheating as by adultery. According to the Minneapolis Star Tribune, more than 50 percent of people report buying something their partner didn't approve of - and 30 percent admitted to hiding said purchase. It seems that when the economy took a nosedive, so did honesty.

None of us get married with the vow, "until debt do us part." So how is it that so many of us are ending up with deep, dark financial secrets?

Continue reading "Is Hidden Debt Taking a Toll On Your Marriage?" »

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" »

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" »

If you've got some time off after Christmas, you probably want to kick back and relax, not work. But there's a reason you might want to spend your downtime doing a little post-holiday housekeeping, say Atlanta bankruptcy attorneys.

By clearing out stuff that you don't need and donating it to charity before January 1, you can save money on your taxes - and if you're really lucky, increase your tax refund.

Continue reading "Donating Unused Goods Can Help Atlanta Taxpayers Save Money Next Year" »

Many workers hoping for a bonus from their employers this month received something a lot less pleasant: a memo stating that their health insurance premium will go up next year.

Health insurance companies are raising rates on employers, who are in turn passing the costs on to us. Insurers often place blame on expenses associated with healthcare reform, but the truth is, health costs have increased every January for years. We should be used to it by now - but that doesn't make it any less painful for those of us who are already struggling to pay the bills as it is, say Atlanta bankruptcy attorneys.

Fortunately, we still have some say in the matter.

Continue reading "Health Insurance Companies Increase Premiums for Atlanta Employees" »