Atlanta Bankruptcy Law Blog

Dependence on a house of credit cards may be debt trouble

On behalf of Gingold & Gingold LLC posted in Credit Card Debt on Tuesday, June 24, 2014.

Atlanta-born comedian Jeff Foxworthy has made a successful career pointing out signs that someone might be a redneck. Did you know that there are also signs that you might be headed into financial trouble that requires debt relief through bankruptcy or some other means?

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Tags: Bankruptcy, credit cards, minimum payments

Will closing a credt card hurt your credit score?

On behalf of Gingold & Gingold LLC posted in Credit Card Debt on Wednesday, April 2, 2014.

Many people in Atlanta have probably experienced some sort of frustration with credit cards. Maybe you ended up over your head in debt after a job loss or medical procedure. Others may simply feel that they have become too reliant on a credit card or two. In either of these situations -- and many others -- people often consider closing a credit card. There are some situations, however, in which closing a credit card may do more harm than good.

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Tags: credit cards

Is that harassing creditor violating debt collection laws?

On behalf of Gingold & Gingold LLC posted in Credit Card Debt on Thursday, March 27, 2014.

Many people in Georgia have likely experienced a less-than-friendly debt collector. Whether you are overwhelmed with credit card debt or stuck with an extremely expensive medical bill because of an injury or illness, debt collectors can be ruthless in their attempts to collect unpaid debts. As a consumer, however, it is important to understand when a debt collector has crossed the line by violating the law.

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Tags: credit cards

Credit card debt outweighs savings for many Americans

On behalf of Gingold & Gingold LLC posted in Credit Card Debt on Friday, February 28, 2014.

We all know the importance of saving money. Having a savings account can help ensure that you are protected and prepared if something unexpected should happen later in life. Divorce, medical bills and other unexpected payments can cause a person to dip into their savings account. However, saving money, as some New Yorkers know, is not always as easy as it sounds.

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Tags: Bankruptcy, credit card debt, credit cards

Credit card debt and the holidays

On behalf of Gingold & Gingold LLC posted in Credit Card Debt on Thursday, January 2, 2014.

Americans love their credit cards. It seems like everyone has at least one or two credit cards. You may even know someone with five or 10 credit cards to their name. If you add up all of the credit card debt across the country, including debt from Georgia, however, you would have nearly $800 billion. The only other type of debt with a higher number is student loans. In addition, credit cards are commonly used for the ever-increasing online holiday gift purchases.

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Tags: Bankruptcy, credit card debt, credit cards, creditors, filing for bankruptcy

Big bank hit with allegations of bad credit card debt practices

On behalf of Gingold & Gingold LLC posted in Credit Card Debt on Thursday, December 26, 2013.

Credit cards are a normal part of life for many people across the country, including those in Georgia. Some use them to pay bills, others use them to build credit, while others simply enjoy earning points that can be used to purchase vacations and other goods. Having access to a credit card is beneficial to people in a number of ways.

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Tags: Bankruptcy, credit card debt, credit cards, financial challenges

Holiday generosity can result in massive credit card debt

On behalf of Gingold & Gingold LLC posted in Credit Card Debt on Sunday, December 1, 2013.

It probably comes as no surprise to Georgia readers that December is the peak time for American consumers to use credit cards. According to reports, Americans will be charging approximately $131 billion during the month of December. That's 16.4 percent above the average. While all those holiday deals seem too good to resist, they can lead to massive credit card debt.

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Tags: Bankruptcy, credit card debt, credit cards, filing for bankruptcy, interest

Upcoming holidays may mean late payments for credit card holders

On behalf of Gingold & Gingold LLC posted in Credit Card Debt on Thursday, November 21, 2013.

It is tradition, it seems, to spend a lot during the holidays. Many Georgia residents rack up huge grocery bills for Thanksgiving dinner and shell out boatloads of cash for the perfect gifts for friends and family members. While purchasing the best ingredients and over-the-top gifts may feel good at the time, it often leads to credit card debt.

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Tags: Bankruptcy, credit card debt, credit cards

National credit card debt levels continue to fall

On behalf of Gingold & Gingold LLC posted in Credit Card Debt on Thursday, November 21, 2013.

The recession that began in 2008 impacted families throughout the country in many ways. However, one legacy of the economic downturn that is really starting to take hold appears to be a change in consumers’ spending habits. According to the Federal Reserve, nationwide credit card debt fell for the fourth straight month.

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Tags: Bankruptcy, credit card debt, credit cards, interest

Can prepaid cards help teens learn to manage their money?

On behalf of Gingold & Gingold LLC posted in Bankruptcy on Tuesday, April 23, 2013.

Prepaid credit cards have been growing in popularity in the last few years, as access to card-based banking has become an important convenience for many Americans. Prepaid cards can be very helpful to those without credit cards or access to a checking account, enabling them to pay bills online and securely transfer money to a family member. Prepaid cards have also become popular among parents who need to provide their children with some spending money but want to limit access and ability to overspend.

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Tags: bankruptcy, banking fees, credit card debt, prepaid credit cards