Atlanta Bankruptcy Attorney Blog

When debt is spiraling out of control, the first thing most folks do is cut out unnecessary purchases. But for a population of consumers known as binge shoppers, it's just the opposite, say Atlanta bankruptcy attorneys.

Similar to the way a person trying to lose weight might pig out on a whole cake or bag of potato chips, binge shoppers blow off steam by hitting the stores. The average person can turn that out-of-control feeling that comes from opening a too-big bill into motivation for getting a better grip on our finances. But emotional spenders deal with the stress by increasing unneeded expenditures - more shoes, more electronics, more toys for the kids, more stuff for the house, more of everything.

The high shoppers get is a momentary escape from the reality of debt - with 'momentary' being the key word here.

Continue reading "Shopping Binges Make Debt Worse For Overspending Atlanta Consumers" »

Has grocery shopping been leaving you with sticker shock lately?

You're not imagining things - food prices are creeping upward thanks to a variety of factors, from higher oil prices to rotten weather. To make matters worse, most Americans are still reeling from the recession and dealing with debt. Today's rising food and gas prices can feel like the last straw. But while we can't exactly cut food out of our budget, we can lower costs, say Atlanta bankruptcy attorneys.

Continue reading "Atlanta Consumers Battle Rising Prices At The Supermarket" »

It looks like the new year is already bringing new costs - and there's no getting around at least one of them.

If gas gets too expensive, we can take the bus. When our bank adds new fees to our checking account, we can switch banks. But when the price of food goes up - as it has recently - we can't exactly stop eating. Fortunately for those of us already drowning in debt, there are choices we can make to lessen the blow, say Atlanta bankruptcy attorneys.

Continue reading "Atlanta Consumers Feel the Pinch at the Grocery Store As Food Prices Increase" »

If you're barely able to afford paying the mortgage and putting gas in your car, surely you're not going to splurge on stuff you don't even need, right?

Or will you? Americans might be cutting back in most areas, but they're spending more than ever on infomercial products - things like ab machines, spray tan bottles and the infamous Snuggies. So why are we spending our dwindling dollars on "As Seen on TV" merchandise that may not even work? It's all in the sales pitch, say Atlanta bankruptcy attorneys.

Continue reading "More Atlanta Shoppers Buying Into Infomercials In Spite of Debt" »

In the classic holiday battle for our hard-earned dollars, consumers seem to have the upper hand over retailers this year.

That's because, for the first time in decades, Christmas shoppers are choosing to spend with cash rather than credit, say Atlanta bankruptcy attorneys. TransUnion reported an 11 percent drop in major credit card use compared to this time last year. And the rate of shoppers using credit during the Black Friday weekend was the lowest in the 27 years since an annual survey began tracking our holiday spending habits. It seems that consumers are finally catching on stores' holiday tricks.

Continue reading "Atlanta Shoppers Choose Cash Instead of Credit Cards in Stores This Season" »

A new washing machine is the really expensive equivalent of getting a pair of socks or underwear for Christmas. It's not fun per se, but it's useful - especially if you can buy said washing machine before Dec. 31.

For the past 24 months, shoppers have been able to get back 30 percent - or up to $1,500 - of the money spent on energy-efficient products like dishwashers, windows, refrigerators and more. It's been an easy way for short-on-cash Americans to upgrade to modern and more environmentally-friendly appliances, say Atlanta bankruptcy attorneys. But it's about to disappear. To get the discount, homeowners must have eligible products installed and ready to go by the last day of 2010.

Continue reading "Atlanta Shoppers Take Advantage of Expiring Credit for New Appliances" »

They say home is where the heart is - maybe it's time to put our money there, too. At least, that's the theory behind Small Business Saturday.

Never mind that the campaign, which starts today, is backed by credit giant American Express - who happens to be offering an incentive in the form of $25 credit to the first 200,000 folks who register their AmEx cards on the SmallBusinessSaturday.com. It's a way to pump money into the local economy - and in theory, back into our own bank accounts. And that's good news for those of us with debilitating personal debt, say Atlanta bankruptcy attorneys.

Continue reading "Atlanta Consumers Encouraged to Shop Local and Save Money Today" »

What's your perfect Thanksgiving? Is it hanging out with family and friends and having your fill of turkey, stuffing and Grandma's famous candied yams? Or is it plotting your Black Friday shopping spree?

Americans are increasingly choosing the latter, say Atlanta bankruptcy attorneys. For the first time, many big box stores aren't even waiting until Friday to unveil their holiday sales - they're opening their doors today. It seems the day that used to be about giving thanks is now about Christmas consumerism. At a time when many folks can barely handle paying the mortgage, it's a costly trend. And it's not just our bank accounts that will suffer.

Continue reading "How Atlanta Families Can Give Thanks for Saving Money This Thanksgiving" »

There's a reason that our grandparents weren't thousands of dollars in credit card debt - and now there's a way we can follow in their footsteps.

Most of our financial problems today stem from our tendency to spend money before we have it, say Atlanta bankruptcy attorneys. Grandma and Grandpa, on the other hand, knew not to spend what they couldn't afford. But that didn't mean they had to go without, either. By using layaway instead of credit, people of past generations could make affordable payments towards Christmas gifts and other large purchases without the hassle of interest, fees and growing debt.

Continue reading "Atlanta Consumers Turn to Layaway to Avoid Holiday Shopping Debt" »

Some Americans are making two trips to the thrift store this season - one to donate, and another to do some holiday shopping.

It's just one example of how consumers have changed since the Great Recession. According to the Associated Press, middle-class Americans have become more comfortable shopping in thrift and consignment stores, using layaway instead of credit and buying generic brands instead of name brands. And it's helping us pay down debt, say Atlanta bankruptcy attorneys.

Continue reading "More Atlanta Shoppers Buy Generic, Discounted and Gently Used This Holiday Season " »

When is saving money not all it's cracked up to be? Maybe when it comes to holiday rebates.

Every holiday season, stores roll out shiny, new merchandise - and new sales pitches to get us to buy it, even when we're short on cash thanks to not-so-great economic times, say Atlanta bankruptcy attorneys. Some of those specials include rebates - purchases in which we can apply to get money back from the company after paying full price at the store. Most shoppers won't argue with a discount, even a delayed one, but maybe they would if they knew the truth - only half of consumers end up redeeming rebates.

Continue reading "Do Holiday Rebates Really Offer Big Savings for Atlanta Shoppers?" »

Christmas might come just once a year - but lately it's been overstaying its welcome.

It used to be that stores waited at least until Halloween was over to stock the shelves for the holiday shopping season. But this year, the red and green decorations started taking over by mid-October. Starbucks hasn't even broken out the holiday cups yet, for crying out loud, and my local Target has three aisles dedicated to tree ornaments.

Even worse, stores are pushing us to buy during a period when rough economic times have most folks struggling more than ever to manage debt and pay the bills.

Continue reading "Longer Christmas Shopping Season Keeps Atlanta Consumers Spending" »

What's the scariest thing about Halloween night? For some folks, it's the realization that there are still two more major holidays to go before the season of spending is over.

A Halloween costume and a bucket of candy probably won't bust your budget. But between food and drinks, parties and presents, what's supposed to be a time of family and fun can quickly evolve into a pile of debt that follows you well into the New Year. But there are ways to enjoy the holiday festivities - and the rest of the year - without winding up in the poorhouse or having to go without, say Atlanta bankruptcy attorneys. In short, it's all about the freebies.

Continue reading "Atlanta Shoppers Can Save Money With Freebies This Holiday Season" »

At first glance, prepaid cards might look like a dream come true for those of us with growing credit card debt, according to a recent MSNBC.com story.

By loading one of the many prepaid debit cards available at the local drugstore or supermarket with a certain amount of money, we can swipe it like a regular credit card, but without the risk of exceeding our credit limit, hurting our credit score or busting our budget. Unfortunately, it turns out that prepaid cards come with costs of their own, say Atlanta bankruptcy attorneys.

Continue reading "How Prepaid Debit Cards Might Be Costing Budget-Conscious Atlanta Consumers" »

If it seems like you always wind up with one too many bags of Halloween candy in your house, your credit card habit might be to blame.

It turns out that paying with plastic can encourage consumers to buy unhealthy food, according to a recent study by the Journal of Consumer Research. Fortunately, shoppers can avoid eating too much junk - or accumulating too much debt - by modifying the way they use credit and debit cards, say Atlanta bankruptcy attorneys.

Continue reading "Using Credit And Debit Encourages Atlanta Consumers to Make Unnecessary Purchases " »