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?" »

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?" »

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" »

Summer is barely halfway over, but retailers are already trying to turn our attention - and our dollars - to back to school shopping.

Coming off a couple years of dismal sales, stores are desperate to pep up their bottom lines. And they're using the fall season as an excuse to launch an all-out attack on our wallets. So how are they convincing even the most frugal of shoppers to part with money we don't have to buy things we don't need?

Sales - and lots of them, say Atlanta bankruptcy attorneys.

Continue reading "The Best Way to Save Money on Back to School Sales " »

As a culture, we seem inherently drawn to new, shiny things. Which begs the question: when the economy finally rebounds, will our spending do the same?

One way to tell is by the kind of cars we buy in the future. Before the economic meltdown, most folks bought their cars brand new. It was simply the thing to do. Sure, buying new was more expensive, but we figured that's what car loans and leases were for. Unfortunately, it didn't turn out too well for many of us.

Those new cars lost approximately 20% of their value the minute we drove them off the lot, according to Bankrate.com. After a year, another 10% in value went down the drain. Couple that with high loan payments, and you get a car that we couldn't afford to keep, and couldn't afford to sell.

Continue reading "Consider Buying a Used Car to Avoid Debt and Depreciation" »

They say that the best things in life are free. And when it comes to lowering debt on your own, they could be right.

As the number of Americans struggling with debt grows, so do the options for free financial advice at websites like Mint.com and HelloWallet.com.

Of course, do-it-yourself has its drawbacks. You can't ask questions and you don't have a real, live person to make sure you stay on track. But for folks who are too embarrassed to ask for help - or who need simple advice, like assistance creating a budget - online software is a step in the right direction.

Continue reading "Financial Websites Offer Free Advice for Your Debt Troubles" »

Credit cards bear the brunt of the blame for our overspending - sometimes deservedly, sometimes not.

Sure, paying with plastic can make it all too easy to make impulse buys - leading to credit card debt and an empty checking account. But for some folks, paying with paper makes it too easy to lose track of where all that money's going because, unlike with credit, there's no statement to hold you accountable at the end of the month. So how do you know what's right for you - cash or credit card? Take a look at your spending habits, say Atlanta bankruptcy attorneys.

Continue reading "Spending with Cash or Credit Has Benefits and Drawbacks for Atlanta Shoppers " »

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" »

Did you know your credit score can go up and down each month, even if you're usually a responsible credit user?

Your credit score isn't some static number - it's actually a monthly assessment based on the information your lender provides to credit bureaus, say Atlanta bankruptcy attorneys. It's a snapshot of your credit behavior at one point in time. So if you ring up an unusually high credit card balance one month, all of a sudden you look like a riskier borrower - even if your past history says otherwise.

That's good and bad news. Good, because it means you have more power to change your credit score than you may realize. Bad, because your behavior one month can jeopardize your finances the next.

Continue reading "Why Getting Too Close to Your Credit Limit Can Hurt Your Score" »

What's the difference between a real rebate and an advertising gimmick? The answer lies in the fine print.

Retailers are making it harder than ever for Atlanta consumers to get money back on purchases, thanks to early expiration dates and fees for inactivity on rebates. In tough economic times, making sure you take advantage of every opportunity to save can be the difference between drowning in debt and doing away with debt to find a fresh financial start, say Atlanta bankruptcy attorneys. Fortunately, with a little detective work, you can make sure you get the discount you deserve.

Continue reading "Rebate Cards Don't Always Offer Advertised Savings to Atlanta Consumers" »

If proposals in a new finance bill passed by the Senate come true, the finance industry could get a lot easier to navigate for Atlanta consumers.

We're talking free credit scores, a reduction in mortgage penalties and the creation of a new oversight agency to protect consumers. Watch out, lenders - the game might be played differently when consumers actually have a fair shot.

Here's a quick summary of some of the bill's most intriguing possibilities. But first, a disclaimer: this is all still speculation. We don't know when the bill will be finalized, or what will be left in it when it is. If you're looking to lower debt and improve your finances, you can't afford to wait for the government to hold your hand - not when there are effective ways to take matters into your own hands, like bankruptcy.

Continue reading "Proposals in Finance Bill Could Help Atlanta Consumers Save Money and Improve Credit" »

Forget the old question, "What came first, the chicken or the egg?" The new riddle is, "What came first, the spending or the debt?"

Millions of Americans currently spend more than they earn, say Atlanta bankruptcy attorneys. Sometimes it's because they have too much debt. But other times, they have too much debt because of their spending. In order to free up your finances once and for all, it's important to identify whether your shortfall is caused by circumstances beyond your control - or a spending addiction.

If your paycheck just isn't cutting it, maybe it's time you asked yourself a few questions.

Continue reading "Shopping Addictions Are Keeping Some Atlanta Consumers in Debt" »

If your mailbox seems a little fuller lately, it's probably not your imagination.

After all but drying up during the recession, credit card offers are making a comeback. Banks are feeling optimistic that consumers are ready to spend, and to take advantage they're stuffing mailboxes with advertisements, say Atlanta bankruptcy attorneys.

It's a bittersweet milestone. On the one hand, credit card offers indicate the economy - and consumer confidence - is finally improving. On the other, it means new opportunities for us to damage our credit and add to our debt.

Continue reading "After Months of Tight Credit, Banks Begin to Mail Credit Card Offers to Atlanta Consumers" »