Atlanta Bankruptcy Attorney Blog

Consumer spending has been rapidly on the rise in 2011. That means the economy is rebounding, right? Well...not exactly, say Atlanta bankruptcy attorneys.

It turns out that most of the increase is actually due to - you may have guessed it - higher gas prices. Prices at the pump saw record increases in the past couple months, and it's only predicted to get worse. Talk about bad timing - economic growth was just starting to pick up in the last quarter. So how are we supposed to get back on our financial feet when prices keep going up?

Continue reading "Atlanta Consumers Spending More, But Higher Gas Prices Play a Part" »

First food prices, then gas - now it looks like ATM fees are on the rise. But the good news is, you can choose not pay the higher price, say Atlanta bankruptcy attorneys.

Currently, using another bank's ATM means about a $2.50 charge from the competitor bank - and a fee of $1-$1.50 from your own bank. But Chase recently shared its plan to hike ATM fees for non-customers in Illinois to an unheard-of $5 per transaction. Rates in Texas, another state involved in the trial, will increase to $4. That means that, for a simple $20 withdrawal, you would be paying 20-25% interest - or 30% interest when you include the charge by your own bank.

Financial wisdom has long held that you can get more with cash than with credit, because you don't have to pay a premium - i.e. credit card interest - to use paper money. But if customers simply roll over and pay these crazy new rates, we could lose the freedom to save money with cash.

Continue reading "Big Bank Raises ATM Fees for Struggling Consumers in Some States" »

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" »

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" »

Has your spouse been cheating on you - with his credit card?

Now that the most romantic holiday of the year is officially over, maybe it's time to look a romance-killer - debt. Earlier this month we discussed the fact that, thanks to the recent recession, more and more couples are hiding money troubles from each other. With half of marriages ending in divorce - and almost half of those divorces caused by money problems - it's never been more important to understand how your partner's financial baggage can affect your relationship, for better or for worse, say Atlanta bankruptcy attorneys.

Continue reading "When Debt Comes Between You and Your Spouse" »

We wouldn't dream of taking a road-trip without a map or building a house without a blueprint. So how is it that most of us are running our household finances without a family budget?

Not only is a budget one of the most important tools for getting a grip on finances, it's also one of the simplest. At its most basic level, a budget is just a way to track money coming in versus money going out. Easy, right? Not for most Americans. The problem is that many of us never learned how to build a budget, so what should be something simple actually seems complicated and overwhelming - leaving us to avoid one of the most effective solutions for getting out of debt.

The good news is that it's never too late to learn.

Continue reading "Budget Challenge Offers Chance for Atlanta Consumers to Finally Find Financial Freedom" »

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" »

Remember when having a million dollars meant you were filthy stinkin' rich? Now it just means you have enough to live modestly - though probably still comfortably - when you retire.

Being a millionaire has lost some of its allure. That's the bad news. The good news? It's still pretty sweet to have a million bucks to draw on in your retirement. And getting there is easier than ever before, say Atlanta bankruptcy attorneys. It just requires that we stop adding to our debt problem and instead start adding to our nest egg.

Continue reading "How Making a Million Dollars By Retirement Is Possible For Atlanta Savers" »

We all know that saving money means spending less - that's just simple math. But where you choose to make the cut is up to you.

If you're anything like most Americans, you're a little worried about how you're going to make it though the holiday season without bleeding money. And ultimately you've got a couple choices, say Atlanta bankruptcy attorneys. You can pare back on Christmas costs - maybe spend less on presents, opt for a potluck instead of a gift exchange or stay away from the stores altogether. Or you can indulge within reason and cut back costs elsewhere to make up the difference. In fact, if you play your cards right, you may even be able to come out ahead when the holiday festivities are all said and done.

Continue reading "Best Ways for Atlanta Consumers to Lower Debt During the Holidays" »

There's a reason that our grandparents weren't thousands of dollars in credit card debt - and now there's a way we can follow in their footsteps.

Most of our financial problems today stem from our tendency to spend money before we have it, say Atlanta bankruptcy attorneys. Grandma and Grandpa, on the other hand, knew not to spend what they couldn't afford. But that didn't mean they had to go without, either. By using layaway instead of credit, people of past generations could make affordable payments towards Christmas gifts and other large purchases without the hassle of interest, fees and growing debt.

Continue reading "Atlanta Consumers Turn to Layaway to Avoid Holiday Shopping Debt" »

Credit cards have their pros and cons. On the one hand, credit is convenient. You don't need exact change, you don't have to stop at the ATM and you get a written record of all your credit purchases at the end of the month, no tracking tools necessary. On the other hand, as many of us know too well, credit cards can be the fast track to too much debt.

So how can Atlanta credit users find middle ground? According to CreditCards.com, it's all about watching out for a few key warning signs.

Continue reading "Warning Signs That Atlanta Credit Card Users Should Watch for When Paying With Plastic" »

Thanks to the Internet, consumers have more access to free financial advice than at any time in history. Yet we also have more debt and bankruptcy filings than at any time in history. What gives?

Turns out we aren't taking much of that available advice to heart. Sure, budgeting programs like Mint.com, goal makers like SmartyPig.com and tools like online banking are all great ways to organize our finances - but they don't do us any good if we don't commit to using them, according to Atlanta bankruptcy attorneys.

Continue reading "Living in Denial Keeps Many Atlanta Consumers in Debt" »

I know folks who clean their closets, de-clutter their desks and alphabetize their music collections every fall - but don't even think about trying to organize their finances.

There seems to be a misguided belief that organizing money is difficult. But you don't have to be a money Martha to manage your finances, say Atlanta bankruptcy attorneys. Sure, earning money can be hard, saving it can be harder - but organizing it actually makes things easier. When you keep clean financial records, money becomes something you can control, rather than the other way around. And that's key when you're overwhelmed by bills, debt and other obligations.

Continue reading "Easy Tricks Can Help Atlanta Consumers Organize Finances and Lower Debt This Fall" »

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?" »

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?" »