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Nation debt is higher but Georgia residents still shop frugally Atlanta, GA

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Nation debt is higher, but Georgia residents still shop frugally

The holiday season in particular is a difficult time of year to be facing financial hardship. Many people plan to throw holiday parties, purchase gifts for friends and family or travel to visit loved ones. Although recent reports show Americans racking up more credit card debt overall, the numbers show that many Georgians are planning a frugal holiday.

Increase in national credit card debt

A recent analysis revealed that credit card debt increased an average of 4.9 percent per borrower in this year’s third quarter. It also revealed that less people are making payments on their credit cards on time. Credit card payments that are at least 90 days late increased 0.04 percent since last year.

Some believe that this could be a sign of economic recovery because it has been noted that since the recession Americans use their credit cards less often. But, despite this increase in credit use, it clear that Americans are still being more careful with their credit than in previous decades.

Georgians remain frugal

Although the national debt is increasing, Georgians are remaining frugal this holiday season, not taking on extra debt. A recent study revealed that only 3.3 percent of Georgians were planning to spend more on the holidays this year than they did the year before. An estimated 48.2 percent plan to spend the same amount as last year and 48.5 percent plan to spend less. Less than half of Georgians were planning to spend more than $500 during the holidays.

The study also showed that Georgians do not appear to be using a lot of credit. Only 12.4 percent of Georgians said they planned to purchase most of their holiday needs with a credit card, while 70.1 percent planned to use cash. The percentage of credit card users has decreased by 3.5 percent from last year’s average of 15.9 percent.

Remaining financially stable

You may try to avoid financial trouble by using your credit cards less. Even with the best of intentions, many run into financial trouble during these difficult economic times. Filing for bankruptcy may be a smart option.

If you run into financial difficulty, relief is available. A Georgia bankruptcy attorney can help you get back on your feet again. As the holiday season approaches, the best gift might be the peace of mind that comes with moving towards financial stability.

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Our Client Reviews

Gingold & Gingold LLC
5.0 / 5.0

Based on 28 reviews

Jack L.

They did an excellent job with my case. Jamie took the time to really listen and understand things. She delved into the details and was extremely knowledgeable and non judgmental. Very professional and they know what they are doing. Would definitely recommend!

All C.

Mr. Gingold was recommended by an attorney I had worked with previously. I met with Ira Gingold to discuss credit issues. He went over each specific issue thoroughly. He advised me of the potential outcomes. He did all this in one meeting for a very reasonable price. When we finished I was confident in moving forward with a resolution. He definitely wants to help people take the appropriate course of action for their circumstance.

Karen B.

Dear Mr Gingold, There are so many reasons to be thankful for all you have done and will do. Anyone who has ever had unfavorable experiences with an attorney or the legal system will feel the trepidation that I experienced once I realized that my situation seemed hopeless. It was by chance and happily good luck that I decided to put my future and sanity into your hands. I was mortified at having to deal with my debts by claiming bankruptcy. I remember in our first meeting how you assured me that I was not alone and should not feel ashamed. And, anyone in this position obviously does not have money to spare and you were clear about all the costs and allowing me to pay according to my own ability to do so. You advised me in all aspects of the law, but also, you were at each meeting incredibly supportive and complementary of my personal and professional plans. Anyone else in this situation should feel blessed to have access to your expertise and support.

Lyla B.

I thought the process of filing bankruptcy was going to be a difficult one. However, Gingold & Gingold treated me with respect and dignity from the moment I walked through their door. I had the pleasure of working with Jamie. She is very responsive, professional, and knowledgeable. She took the time and listened to my every concern and handled each and every one of them to my satisfaction. My experience with filing bankruptcy under Gingold & Gingold's representation exceeded my expectations in a major way. They gave me such a peace of mind. I am very pleased with my decision of going with Gingold & Gingold to represent me when I filed Chapter 13 bankruptcy.

Julie T.

Wow! I am finally out of debt and can say that I am debt free after completing my chapter 7 bankruptcy case with Gingold and Gingold. Mr dangled was very knowledgeable and direct with regard to my debt situation. there were no surprises and the case went as I was advised. The staff was also very helpful whenever I had a question. I will definitely recommend them in the future to my friends.

Sherard W.

I cannot say enough about this law firm. From the initial consultation to our discharge, the entire office kept me updated with every step of the entire process. I came to the Gingold after a bad experience with another law firm. Ira and Jamie immediately began treating me like family through this experience. In the end, they assisted with eliminating many debts including my 2nd mortgage. I cannot say enough about the experience and knowledge that Ira brought to the table from the office visits to the court time. Thank you very much for helping me through this tough time. Thank you.

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