Atlanta Bankruptcy Attorney Blog

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?" »

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" »

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" »

I don't what makes me sweat more - hot summer weather, or the big air conditioning bill that comes with it.

Most folks spend more than half of their energy bill on air conditioning and heat, according to the U.S. Department of Energy. That's a lot of money to spend - but it could become a lot to save, too.

Obviously, you could reap the biggest savings by giving up air conditioning cold turkey. But even if you can't bear to live without the comfort of artificial air during the dog days of summer, just a few small changes here or there can keep you cool without causing you to break a sweat when that bill arrive, say Atlanta bankruptcy attorneys. And for those of us already struggling with debt before the thermometer rises, that's no small change.

Continue reading "How to Reap Cool Savings on Air Conditioning Bills During Summer in Atlanta" »

Have you ever stopped by the grocery store for a box of cereal only to exit with four bags worth of food - and a hefty receipt? If so, take heart - you're not alone.

Even the most budget-minded shoppers are guilty of falling victim to impulse buys - and it's not all our fault, say Atlanta bankruptcy attorneys. Stores have a few tricks up their sleeves to get us to spend more than we should. And being aware of those tricks could lead to lower bills and less debt.

Continue reading "How to Avoid the Spending Traps Retail Stores Set for Atlanta Shoppers" »

Most folks think of summer vacation as a time to be lazy and spontaneous - basically, the opposite of work.

But putting a little work into planning your vacation can actually make it all the more relaxing because you won't have to worry about busting your budget - and going into debt (or, if you're like most people, adding to the debt you already have). By mapping out your trip ahead of time, you can take advantage of the cheapest locations and the best travel deals.

Continue reading "Give Yourself a Permanent Summer Vacation By Lowering Debt With Bankruptcy" »

The days of sticker shock at your cell phone bill may be coming to an end, say Atlanta bankruptcy attorneys.

On Tuesday, the Federal Communications Commission announced it's considering a plan to alert wireless customers of unusually large cell phone bills - for instance, if one month you take a vacation and accumulate roaming charges that aren't covered by your regular plan, your provider will need to let you know before your bill arrives.

It's a move that could certainly save cell customers some change. But why wait? You have the power to keep track of - and prevent - such high bills. All you have to do is keep closer tabs on your account.

Continue reading "Tracking Wireless Charges Can Help Customers Lower Cell Phone Bills" »

In tough economic times, it's good to have tight purse strings - but if you keep them pulled too tight, they might snap.

Not literally, of course, but figuratively. If all of your money is going to the bills, the house payment, your savings, etc, you probably don't have much left for yourself. And all work and no play means that you're either leading a very dull life or that you're slowly increasing the odds that you'll go on a massive spending binge and hurt your credit.

So what's your best option? Allow yourself a splurge now and then to take the edge off. Just make sure to do it in moderation lest you end up with even more debt problems, caution Atlanta bankruptcy attorneys.

Continue reading "Improving Economy Triggers Small Shopping Splurges for Frugal Atlanta Consumers " »

There's a benefit to tough economic times: you might emerge financially stronger - and smarter.

It was announced recently that coupon usage increased last year for the first time in, well, a long time. Before the recession, most folks had renounced scanning the newspaper for coupons and sales as a hobby better suited for Grandma. As it turns out, our grandmas must have finally taught us a thing or two. Clipping coupons is a quick, easy way to start saving -- and maybe even lowering debt.

Coupons take almost no time to collect. They come right to you in your paper, your mailbox or your inbox. And yet they can make your everyday life cheaper. Look at them as free money - under the right circumstances, anyway.

Continue reading "Clipping Coupons Regains Popularity Among Atlanta Shoppers Looking to Save Cash" »

Sometimes the easiest way to save money is simply to ask, according to Atlanta bankruptcy attorneys.

Take your cable bill, for instance. Most cable or satellite companies offer hundreds of channels - a seemingly good deal, right? But the truth is, you'll never have time to watch them all - and probably wouldn't want to. Most folks focus on a few favorite shows on a few favorite channels. And for that, we typically pay upwards of $100 a month. That's more than $1,000 a year! Not really such a great deal.

But did you realize you could decrease your cable bill without missing your must-watch shows?

Continue reading "Lowering the Cable Bill Can Free Up More Money for Atlanta Residents Each Month" »

Relaxation and spending money do not go hand in hand. So then why do so many people believe they need to take an exotic (read: expensive) vacation come springtime?

Sure, after a long winter, we could all use a sunny getaway. But with many folks in Atlanta dealing with debt and even thinking about bankruptcy, this might not be the ideal time to go on a spending spree.

Now that doesn't mean you can't enjoy some downtime - or even a vacation - this Spring Break. It just means that you're going to need a strategy if you don't want to break the bank.

Don't think of it as being frugal. Think of it as getting more bang for your buck. Whatever you save this spring can be applied towards several smaller vacations later this year. Or you can use it to help pay for gas, groceries or the mortgage - or even better, to pay down debt. That way, you'll free up more fun money in the future.

Continue reading "Atlanta Vacationers Can Travel on the Cheap This Spring Break with the Right Spending Plan and Destination" »

You know how when you hear something a million times, you start to tune it out? I think we've started to do just that when it comes to the b-word.

I'm talking about a budget. The advice is true - a budget really is the most effective way to start saving so that you can pay down credit card debt, loans or other obligations and eventually use your money for the things you really want: a house, a nice vacation, some spending money, college for your kid and a comfortable retirement. But the problem is, Atlanta consumers have heard so much about the benefits of budgeting, they've become sort of meaningless to us.

Sure, setting up a budget takes a bit of work, while ignoring the need to budget doesn't. But you'll pay a price - i.e. more money wasted each month - for taking the easy way out. Whereas with just a little effort, a budget can help you reap long-lasting rewards.

Continue reading "Setting Up a Budget Can Help Atlanta Residents Lower Debt and Start Saving" »

Even though a weak job market is threatening to stall economic recovery, Americans increased their spending in January, Atlanta bankruptcy attorneys say.

With unemployment still hovering just under 10 percent, incomes remained almost flat in January - rising by around 0.1 percent, significantly lower than what economists expected. And for those lucky enough to retain our jobs, cost-of-living raises are still far and few between - not to mention the fact that some of us have seen reduced hours, furlough days or other paycheck-lowering actions. Yet we spent, on average, 0.5 percent more last month, according to The Commerce Department.

The good news is that we're feeling optimistic. The bad news is that we're threatening to derail our progress. See, the Great Recession has been good for at least one thing. It's increased our savings rate from a negative number for most of the last decade to more than 4.3 percent last year. Now we're starting to see that rate drop again - last month, for instance, we only saved 3.3 percent.

If we want our newfound responsible behavior to stick around, we're going to have to start slowing our spending to match our income. Fortunately, there's a formula to make saving a little more manageable.

Continue reading "Atlanta Bankruptcy Attorneys Are Saving Less But Spending More" »

Parents of spend-happy teenagers everywhere will breathe a collective sigh of relief Feb. 22.

That's when new credit card legislation goes into effect preventing anyone under 21 from getting a credit card, unless they can prove they have an independent source of income (i.e. not from Mom and Dad) or parental permission, according to Atlanta bankruptcy attorneys.

At first glance, it's a good idea. Credit card companies have for years set up booths on college campuses to prey on financially-uneducated freshman (I only wish there would have been some age limit in place when I got my first credit card - and shortly after, my first credit card debt). But there's one big problem the new legislation doesn't address. Whether you open a credit card account when you're 16, 21 or 50, you're still going to have to learn how to manage your credit to prevent winding up in debt.

Continue reading "Atlanta Bankruptcy Attorneys Say Creditors Are Making It Harder For College Students to Get Credit Cards" »