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Georgia ranks second in the ten worst states for credit Atlanta, GA

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Georgia ranks second in the ten worst states for credit

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With the continuing flood of bankruptcies and foreclosures, many Atlanta families are dealing with the ramifications of a low credit rating. However, many do not realize that these negative effects can go beyond the individual or family and affect the community as a whole. If a city or state has a cumulatively low credit rating, companies will be less likely to do business in the area, with a resulting negative effect on unemployment and quality of life in the state.

According to a new study, Georgia is among the top 10 worst states for credit. The research was conducted by the website CardRatings.com, which examined states’ average credit scores, foreclosure rates, bankruptcy rates, unemployment rate, and credit card delinquency rates, in order to determine which areas had the worst cumulative credit rating.

Georgia ranked second on the top ten list, scoring low in all five categories analyzed by the website. The state is the second worst for bankruptcies, behind only Nevada, and also ranked the fourth worst for credit card delinquencies. Other states in the top 10 are Nevada, as previously stated, as well as California, Florida, Arizona, Alabama, Tennessee, Michigan, Mississippi and Idaho.

In general, a state’s low collective credit score will have a slowing effect on the local economy, negatively affecting unemployment, home prices and the real estate market. In addition, local institutions may not have the ability to lend money, and national businesses may not want to extend credit to Georgia citizens if they have a record of inability to make payments on time.

Source: Fox Business, “Ten Worst States for Credit,” Curtis Arnold, 21 July 2011

Posted on behalf of Gingold & Gingold

1718 Peachtree St NW, #385
Atlanta, GA 30309

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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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