Atlanta Bankruptcy Attorney Blog

Forget about your sweetie - why not show your wallet some love this Valentine's Day?

OK, maybe your significant other still deserves a little something. But my point is, you shouldn't have to break the bank just because Hallmark wants you to. And whether you're a diehard romantic or a Valentine's Day skeptic, you can use tomorrow as an excuse to start working towards a financial life that you'll love all year round - particularly if you're in debt right now, say Atlanta bankruptcy attorneys.

Continue reading "Atlanta Bankruptcy Attorneys Offer Advice on Saving Money This Valentine's Day" »

Just because that scarf Grandma gave you isn't your style doesn't mean you can't get what you really want - or need - this Christmas.

With most folks struggling to make ends meet, there's nothing wrong with admitting you want to squeeze the most use out of your presents - especially when you've dropped big bucks on gifts for friends and family over the past several weeks. Fortunately, stores are giving us a break this year.

Retailers like Best Buy, Wal-mart, Sears and even Overstock.com are making it easier than ever to return or exchange gifts by extending deadlines and loosening formerly strict policies, according to an article on MSNBC.com.

Continue reading "Gift Returns and Exchanges Could Become Easier This Year" »

Citibank is giving a few thousand Americans the ultimate Christmas gift this year. Problem is, there isn't enough to go around.

The megabank recently announced it would put foreclosures and evictions on hold for some 4,000 homeowners this holiday, according to MSNBC.com. The break applies to homeowners with Citibank-owned loans and lasts through the middle of January.

It's intended to reduce stress during this already crazy time of year, said a company spokesman. And I'm sure it will for those 4,000 people, temporarily anyway. But what about the millions of other Americans that are on the brink of losing their homes?

Continue reading "Bank Lets Some Homeowners Stop Foreclosure This Christmas" »

With the dawning of the gift card age, gift givers thought we had finally moved past the days of fruitcakes and ugly sweaters. Because you can't go wrong with plastic, right?

Maybe you can. It turns out that much of our good intentions are still going unused. But instead of going in the trash or to the thrift store, our gifts are going to making businesses richer. Retailers call it breakage, the portion of gift cards and certificates that never get spent. And breakage is no chump change. Most retailers like to keep it on the hush-hush, but here's an idea of how much we're "donating" to stores each season. Home Depot made $37 million off gift cards last year, while Best Buy brought in $38 million, according to the NY Times.

For shoppers on an already tight budget, it's an insult.

Continue reading "Gift Cards Might Be Convenient, But They Aren't Always Cheap" »

When most folks worry about maxing out their credit cards this season, they're thinking of gift shopping. But there are a lot of forgotten small expenses that can leave you deeper in debt come January.

For example, let's look at the annual holiday get-together. Maybe you always throw your own Christmas party. Or maybe between work and friends, you're invited to a half dozen holiday fetes this month. The result can be the same - between groceries for cooking, festive decorations, hostess gifts, and (if you really go crazy) new outfits, you could bust your budget before you make it through your gift list.

It's hard to maintain financial control this time of year, what with the festive feeling in the air, tempting sale displays on store shelves and holiday advertisements bombarding you from the TV screen, magazine pages, billboards and radio. But use the following advice to help you stick to that budget like you do the rest of the year and you'll be in better shape when the tree and lights come down and we all return to our regular lives.

Continue reading "Learn How to Lower the Cost of the Holiday Season" »

Grandma had it right all along - coupons are cool. But instead of clipping them from newspapers, magazines or the backs of cereals boxes, today's consumers are going online.

With most holiday shoppers looking for the best way to stretch their dollar this year, Cyber Monday - the new, online version of Black Friday - has exploded in popularity, mostly because of all the coupons available on the Internet. Since last holiday season, coupon websites like RetailMeNot, CouponCabin and BradsDeals.com saw traffic grow by 57%, 65% and a whopping 174% respectively, according to USA Today (some other discount sites include Savings.com and CoolSavings.com). Additionally, more than 20% more consumers printed online coupons this year than last year.

But while sales are appealing, they're only good deals under the right set of circumstances.

Continue reading "Consumers Looking Online for Discount Coupons" »

'Tis the season for Christmas cards and phone calls from family and friends, but some of us are receiving more hostile greetings over the phone and in the mail this season - from bill collectors.

Unlike most folks, bill collectors don't like to give breaks over the holidays. When you're late on your debt payments, it's their job to bully you into coughing up the cash. That means calls at home and work and letters in the mailbox - even after you've explained the circumstances that are currently preventing you from paying.

But though it might feel like they've got you surrounded with no way out, you still have rights. And with help from a professional bankruptcy attorney, you might be able to silence those bill collectors for good.

Continue reading "Put a Stop to Harassing Creditors With Bankruptcy" »

With money tighter than ever this season, folks are looking for ways to cut back without cutting out Christmas gifts.

On the positive side, sticking to a budget is encouraging us to be less materialistic and more creative, giving homemade and small but thoughtful gifts (not to mention it's a lot easier on our wallet that the standard Christmas shopping spree). But some seemingly "free" presents can actually cost us more money than a store-bought gift - and, in the worst-case scenario, can leave us deep in debt.

Co-signing loans can seem especially appealing during tough economic times. Our friends and family need help buying cars and homes, and we're looking for affordable ways to show them we care. Let's say your cousin is in the market for a new car, but she's having trouble getting the loan. You figure you'll offer to put your name on her car loan in lieu of a physical Christmas gift. It's a win-win, right?

Not necessarily and here's why.

Continue reading "Atlanta Bankruptcy Attorneys Warn That Becoming a Loan Cosigner Isn't Worth the Cost" »

Today, we give thanks for food, family and friends. Tomorrow, many of us are giving thanks for the Internet.

In the past few years, online shopping has revolutionized Black Friday and the rest of the holiday shopping season. Instead of braving long lines and crowded shopping malls on a quest for the best deals early Friday morning, we can find some of the same sales - and some better - from the comfort from our own homes. And it couldn't have happened at a better time.

With most folks already struggling to pay the bills, we don't have much to spare when it comes to shopping for Christmas gifts. Unlike traditional shopping, the Internet allows instant price comparisons, access to way more stores - and potential deals - than we'd ever be able to visit on foot or by car, and less temptation for spur-of-the-moment spending, since there are no distracting window displays or sales people (though those pop-ups can be annoying).

But as with any good thing, there's always a catch - in this case, online scams.

Continue reading "More Online Shopping Means More Online Scams This Season" »

'Tis the season for giving, but if many of us don't curb our spending habits, the only thing we'll be giving is our home - back to the bank.

Just as the media was reporting in September that an economic recovery was underway, there were still roughly 4 million homeowners either in some stage of foreclosure or at least three months behind on mortgage payment, according to the Mortgage Bankers Association. Even worse, those foreclosures have been pushing down home values in the cities that are already struggling with the highest unemployment rates.

So why are things getting worse when they're supposed to be getting better? Maybe it's because, bad economy or not, consumers are plain out of cash. Many of us have gone without a raise for years - or worse, without a job for months. In the meantime, we're using credit cards to make ends meet, adding to our already bloated debt burdens. And now with the arrival of the holiday season we're struggling to put fancy meals on the table and gifts under the tree, adding even more financial stress. At some point, homeowners are throwing in the towel. But it doesn't have to be that way.

Continue reading "More Borrowers Default On Mortgages As Holidays Approach" »

I could swear that grocery prices inch higher every day, but apparently (and fortunately for my wallet) I'm wrong - the price of a Thanksgiving meal has actually declined this year. Don't believe me? The proof is in the (corn) pudding.

A survey by the American Farm Bureau Federation found that a family of 10 will pay just under $43 for a Turkey Day spread of bird, mashed potatoes, stuffing, cranberry sauce and the like - that's 4% less than last year and the first decline in nearly a decade. In fact, most food prices have dropped recently due to lower energy costs and the poor economy. According to an American Farm Bureau Federation economist, you can feed your family a hearty Thanksgiving meal for less than the per-person cost of dinner at the nearest fast food joint.

Now, $43 still isn't cheap when you've spent the rest of the year scrimping and saving and generally getting by on as little as possible. But hearing that prices are stabilizing - and in some cases, declining - sure is a relief. When you're struggling to make ends meet, it's easy to think the rest of the world is out to get you, be it the grocery store, the gas station, the mechanic or the doctor's office. But while prices may go up and down, you still have the ability to control your finances.

Continue reading "Consumers Can Be Thankful for Decreasing Grocery Store Prices" »

The best deals this shopping season might already be in your closet.

If you're looking for some extra cash, why not just purge some of your junk? You know, the clothes that don't fit, the gifts that just aren't your thing, the outdated cell phones sitting in a desk drawer. Forget gathering dust -- they could be gathering dough!

Just look at the price of gold, now at a staggering $1,119 an ounce. If you've got some jewelry that's just not your style, you'll probably never be able to sell it for more money than right now. Just a hint, though - there are a lot of scammers out there after your money. Take your jewelry somewhere reputable to be appraised rather than a pawn shop or someone you found in an Internet or TV advertisement if you want to get your money's worth. Read on for even more ways to save money this season.

Continue reading "Clean Out Your House for Extra Cash This Season" »

It takes more than a budget to shop smart this holiday season - it takes open eyes.

Stores everywhere are offering discounts for opening credit card accounts. For instance, they'll knock 15% off your purchases when you sign up. At first glance, it seems like a bargain. Hey, you've got to buy gifts anyway - why not get them for cheap? But look a little deeper and you'll see it's less of a deal and more of a scam.

Store cards are notorious for having high annual interest rates - sometimes 30% or more - and very low minimum payments. With that combination, your bill payments are mostly covering interest rather than your principal. Without paying down your original purchase, you'll be obligated to keep paying interest year after year. Do you really want to spend decades paying for this year's shopping spree? And that's not all. Every time you apply for and/or open a new account, your credit rating is negatively affected. The more cards you have, the worse for your score. Closing them doesn't help - you'll get dinged for that, too.

Rather than fall for a store's gimmick, why not get a real bargain?

Continue reading "How Store Credit Cards Can Hurt Your Finances" »

Looking for a good scare this Halloween weekend? Just drive to the nearest gas station.

Summer might be long behind us, but it seems to have left us with a souvenir - high gas prices. In the past couple weeks, the price at the pump has climbed more than 20 cents a gallon. It's a jump typically seen during the warmer months when people are on the road for vacations and oil is in high demand, not after the kids are back in school and traveling has calmed down.

With money already tight, retailers are worried the unexpected inconvenience will cause consumers to be more careful with their money this holiday season. And they might be right. A few more bucks might not seem like a big deal, but with most folks barely scraping by on the mortgage, credit card bills and groceries (not to mention taxes, medical bills, car repairs or any other unexpected costs) any small change could be the last straw. Fortunately, there's a way to ensure that pricier gas - or utilities, milk and bread, you name it - doesn't get the best of you.

Continue reading "Fight Back Against Scary Gas Prices with Bankruptcy " »

Halloweens shoppers this year will spend billions of dollars on spooky costumes, gruesome props, and spine-tingling horror movies in order to scare ourselves silly. But I bet none of our creepy exploits will induce as much dread as we get opening the mail box and seeing (blood-curdling shriek) our credit card bill!

Or mortgage bill. Or, worse, a notice of foreclosure. You fill in the blank. But despite our fears, many of us refuse to consider a solution that can free us financially, like bankruptcy. Why? Because, as anyone who's ever been afraid of the dark can tell you, it's what we can't comprehend that frightens us the most.

Bankruptcy has frightened consumers for ages. Usually, they're afraid bankruptcy will tarnish their reputation or wreck their credit. And maybe it did in the olden days - back when women were considered risqué for showing their ankles and people only bathed once a month - but fortunately our culture has become a lot more sophisticated now.

Continue reading "Get Over Your Biggest Financial Fears This Halloween" »