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Overwhelmed by Debt Atlanta, GA

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Overwhelmed by Debt

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It is estimated that 8 out of 10 Americans are in debt. That is 80% of all Americans who are in debt, and most of them are carrying debt into retirement. Debt is a huge burden to many people, and the circumstances that have gotten them into financial trouble vary from medical bills to credit cards to student loans to bad investments to reduced income to divorce. If you are overwhelmed by debt, no matter what led to your financial troubles, there are ways to avoid being overwhelmed by debt in the future.

  • Learn to budget. If you have a large amount of debt that is a result of too many expenses and charges, it is time to learn to prioritize your debts and necessary living expenses. Your bills that require essential payment (e.g. mortgage, utilities, child support) need to be at the top of your priority list in your budget. Once you are on a good schedule for paying those, then it is time to add in debts that may be less important (e.g. department store credit cards, a loan from a family member). Once you have a budget in place, stick to it. Getting out of debt through budgeting takes time and perseverance, but if you stick to it you will be successful.
  • Shred your credit cards. If you are already overwhelmed by debt, there is absolutely no reason why you should incur any more debt. Other than food, gas, and the absolute necessities in clothing, no other money should be spent on anything other than paying off the debt you already have. By shredding your credit cards, you will omit the opportunity to acquire more debt.
  • Contact your creditors. Creditors want to be paid, and they are often easier to work with than many people assume. By contacting them and letting them know of your financial situation, they are often quite willing to work with you. Many times, a payment plan can be agreed upon, or they may let you skip a few payments now and tack them on at the end of a loan term. Know this: creditors are more willing to work with those who are willing than those who ignore them.
  • Save. Even just a little. Emergencies will arise no matter how careful you are – you will get a flat tire, your child will break a bone, you will need dental work, or something else will come up. Even if you can only put away $20 a month in an envelope at home, that is $20 bucks you will have when you need it. By saving even a small amount each month, it will add up, and over time that amount will be a substantial savings. 

At Gingold & Gingold, LLC, we want to help you manage your current debt and take the steps to avoid future debt. Contact us today to learn more.

Posted on behalf of Jamie L. Gingold, PC

195 14th Street NE #1604
Atlanta, GA 30309

Phone: (678) 915-2634


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    Our Client Reviews

    Jamie L. Gingold, PC
    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!

    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.

    Julie T.

    I contacted getting old and getting old regarding some old tax debt and credit card debt that I needed to address and had been putting off. miss Irving in the office was very very nice and put me at ease. I met with Jaime Gingold. She was very nice and explained the procedure to me and what would be left owing to the Internal Revenue Service and the State of Georgia after my case was done. My case has now been completed and I am on my way to a new start. Thank you Gingold and Gingold for all of your help.

    Anna T.

    Amazing! Outstanding!! They went over and beyond..I would recommend them to anyone needing a lawyer!!

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