Atlanta Bankruptcy Attorney Blog

As if it's not bad enough that we may fall victim to yet another recession, we also have to worry about falling victim to double-dip scams.

With the economy looking poised to take another nosedive, more folks than ever are dealing with recession-related difficulties - things like getting laid off, losing our homes to foreclosure and struggling to pay the bills. And scam artists are taking full advantage, say Atlanta bankruptcy attorneys. Fraudsters know many of us will do anything to earn a steady paycheck or save our home, including giving them our hard-earned dollars.

Fortunately, there's a way to tell the scams from the real deal.

Continue reading "Ways Atlanta Consumers Can Avoid Double-Dip Recession Scams" »

If you've managed to keep your job in this economy, you probably already consider yourself lucky. But now consider yourself luckier.

As it turns out, the recession might actually offer positive benefits to the employed. According to the New York Times, wages are up, inflation is down and layoffs have all but leveled out. That means that, if you play your financial cards right, you might be able to walk out of the Great Recession in better shape than you walked into it.

Continue reading "Slow Economy Might Pay Off for Atlanta Workers" »

Being optimistic is one thing; being in denial is another. And unfortunately, it seems that millions of American workers are currently in denial about the job market.

It's not that folks are naïve enough to think they won't lose their job. On the contrary, 55 percent of Americans are worried that they could soon be out of work, according to MSNBC.com. And for one in 10 of us, that worry will come true.

The problem is that - even though we know getting laid off is a distinct possibility - we aren't doing anything to prepare for it. But by not preparing for it, we're making the worst case scenario, well, worse.

Continue reading "Building an Emergency Savings Fund Can Help Atlanta Workers Survive Job Loss" »

Not much compares to the surprise of finding a forgotten $10 bill in the dryer - except stumbling upon $1,000 in forgotten money.

Believe it or not, it happens, say Atlanta bankruptcy attorneys. No, not in the dryer. But occasionally money gets forgotten in closed bank accounts, payments relating to long-ago jobs, insurance policies, dividend checks, and more. It used to be that the money went unclaimed for the rest of our lives. But thanks to the Internet, there's a new way to track down that missing cash.

Continue reading "Identifying Missing Money Is One Way to Increase Your Income" »

Just when we think the economic downturn might be safely behind us, economists start talking about a double-dip recession. Talk about bad timing.

Thanks to unemployment, the dire debt situation in Europe and an unstable housing market, it seems that the current economic recovery might not stick. For folks who have been barely scraping by for the last couple years, the news is understandably discouraging. But the truth is, the economy has always been unpredictable - this is nothing new.

Instead of focusing on whether things get better tomorrow, in six months, or in two years, why not focus on what we can do to make them better? You don't have to wait for the economic green light to improve your credit, lower debt or start a savings plan, say Atlanta bankruptcy attorneys. But if you do those things, you'll be better able to handle another downturn - and you'll be better poised to take advantage of the economic upturn, whenever it comes.

Continue reading "Atlanta Consumers Ready Finances for Potential Double-Dip Recession" »

Most folks today don't think picking up a penny is worth the effort. After all, it's only one-hundredth of a dollar, right?

But over time, one percent adds up - especially when you've been slacking in the saving department thanks to a lot of debt, too little pay and overall financial fallout from the recession.

Don't believe me? Just check out a new calculator tool from the New York Times. A few more dollars saved today can become a lot more tomorrow. Let's look at an example.

Continue reading "A Little Savings Today Can Add Up to a Big Nest Egg Tomorrow for Atlanta Residents" »

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" »

Most of us would agree that 50% interest is way too much to pay for a credit card. Yet many Atlanta residents are paying annual rates of 500% or more - we just don't realize it.

How? Payday loans. Maybe you know the drill. For whatever reason, you come up short on the bills one month and payday is still a week away. A short-term loan seems like a quick, easy way to get the cash you need upfront -you figure you can worry about the fees later.

Problem is, these are no ordinary fees. In the payday loan world, fee is code for interest. And with interest rates like these, you might end up in debt - and more strapped for cash than you were in the first place.

Continue reading "Payday Loan Centers Are Leaving Atlanta Workers In Debt" »

My piggy bank has served me well, but he's just not cutting it anymore.

It's not that putting money in a jar doesn't work. Socking away my spare change every week actually helped me pay for college. It's just that, in this day and age, we don't really have spare change since we rely on credit and debit cards rather than cash. And that means folks that rely on their change for saving aren't really saving that much anymore.

But there's hope - today there are virtual savings methods to match our virtual spending habits. You might say that they make saving automatic.

Continue reading "Atlanta Consumers Save Money With Virtual Savings Accounts and Automatic Payments" »

You've got a killer resume, you nailed the job interview and you know you'd be perfect for the position. So why didn't you get the job?

The answer might be in your wallet, according to Atlanta bankruptcy attorneys.

Potential employers often request a copy of an applicant's credit report. And if they see too much credit card debt and a history of late payments, it's going to reflect poorly on your character - no matter how responsible and hard-working you might be on the job.

Debt doesn't just impact your finances - it can affect every aspect of your life, including work. Fortunately those effects are reversible. But before you can devise a solution, you have to identify the problem.

Continue reading "Credit Card Debt Can Keep Atlanta Job Seekers from Getting Hired" »

What if you worked hard all week, only to find that someone else was using your paycheck?

It sounds like a bad dream, but it's a real-life scenario for a growing number of Atlanta debtors who have become subject to wage garnishment - an occurrence that's increased 55 percent in Atlanta since 2004, according to the New York Times.

It starts when a bank sues you for failing to pay your credit card balance. If you don't defend yourself - either because you're intimidated, unable to afford legal representation or are simply unaware you are being sued - the bank can get legal permission to dip into your paycheck. But there's good news: even if you're already handing over wages against your will, you might still be able to take back control of your money with bankruptcy.

Continue reading "Bankruptcy Can Put a Stop to Wage Garnishment for Atlanta Debtors" »

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" »

First, credit cards starting adding annual fees and raising rates. Next, bank accounts started getting more expensive. Now health insurance premiums are on the rise, say Atlanta bankruptcy attorneys. What gives?

Employee healthcare plans went up about 5 percent last year, according to the Associated Press. It's even worse for people who buy their own healthcare - those plans are poised to rise by 50 percent or more. But the worst part isn't that we have to pay more each month for health care - it's that new rates might discourage some of us from paying at all. And that's a risk we can't afford, no matter how appealing the savings.

Americans have a right to affordable health care, whether Uncle Sam is paying for it or not. But meanwhile, canceling our plans to save money won't get us anywhere - except in more debt if the worst happens and we get sick. Fortunately, there are ways to cut back without cutting out your plan.

Continue reading "Save on Health Insurance as Premiums Increase, Say Atlanta Bankruptcy Attorneys" »

Think Uncle Sam will take care of you if you lose your job? You're right - for awhile.

The first $2,400 you receive in unemployment benefits are free for you to keep, according to Atlanta bankruptcy attorneys. Make that $4,800 if you file taxes jointly as a married couple. But after that, you're responsible for paying taxes on benefits just as you would on a regular paycheck. Wondering how much you might owe? You should be receiving a Form 1099-G, which you'll report on your tax return.

Paying taxes even when you've been out of work sounds like a crap deal. But fortunately there are some ways to lessen the blow.

Continue reading "Atlanta Bankruptcy Attorneys Suggest Emergency Savings Funds For Unexpected Taxes" »

Someone once said that the only certain things in life are death and taxes. Apparently, they forgot that we also have to eat.

After the mortgage, food is probably the biggest part of the budget for most folks, with the average family spending roughly $600 a month in groceries not to mention hundreds on eating out. It's also the most unavoidable part of most budgets, according to Atlanta bankruptcy attorneys. Like it or not, we have to eat - even when the cost of staples like bread, milk and meat are skyrocketing while our salaries remain stagnant.

But just because we have to buy groceries doesn't mean we can't find ways to cut costs. Changing just a few of your shopping habits can keep your pantry - and your wallet - from hitting empty.

Continue reading "Atlanta Bankruptcy Attorneys Offer Advice on Saving Money at the Grocery Store" »