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" »

There's good news and bad news about rewards cards.

First the good news. Despite worry that banks would start ditching rewards cards to make up for their reduced ability to charge fees under the Credit Card Act, most banks haven't changed their programs, say Atlanta bankruptcy attorneys.

The bad news? Rewards cards can be a little bit tricky - sometimes they help you save money, sometimes they make you pay.

Continue reading "Rewards Cards Can Still Pay Off for Careful 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" »

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" »

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" »

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" »

When you're looking for a way to save money, canceling your insurance policy can sound pretty tempting - especially when rates keep rising.

Rates for auto, health, life and homeowners insurance policies have been on the upswing as insurance companies struggle with rising expenses, an unstable economy and the costs of the many large-scale disasters in recent decades - including 9/11 and Hurricane Katrina. Those costs get passed on to us, the consumer. And when we're already faced with immediate bills - like the car payment, mortgage or multiple credit card bills - paying for insurance might seem like a hassle, even a waste.

But it's just the opposite, say Atlanta bankruptcy attorneys. Your insurance bill could be the most financially rewarding payment you make.

Continue reading "Insurance Can Be the Difference between Debt and Survival for Atlanta Policy Holders" »

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" »

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" »

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" »

There's nothing more painful than spending your paycheck on bills. But what if paying one of those bills could pay off in the long run?

We all know we need to save money for our future. But it's all too easy to get caught up in the monthly bills, the mortgage, the groceries and gas - and everyday life in general - allowing our plans for investing money to fall by the wayside. But there's a way to make that saving automatic - literally.

We need to save in order to buy that house, take that dream vacation and - maybe most importantly - to retire, right? So stop looking at saving as optional and start looking at it as a necessity, say Atlanta bankruptcy attorneys. Since that's easier said than done, stop giving yourself a choice - instead, set up an automatic savings payment.

Continue reading "Atlanta Residents Can Stop Procrastinating About Saving By Making Investing Automatic" »