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Upcoming holidays may mean late payments for credit card holders Atlanta, GA

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Upcoming holidays may mean late payments for credit card holders

Ira and Jamie Gingold Bankruptcy Attorneys in Atlanta GA

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. 

Americans slipped on credit card payments last quarter — attributed in part to back-to-school spending — and experts project it will happen again in the last quarter of 2013 because of holiday spending. 

For statistical purposes, late credit card payments include those that are 90 days or more past due. In the third quarter of this year, late payments rose from 1.27 percent to 1.36 percent. Despite the rise, this is still very low compared to rates in recent years. Since 2007, the average rate for late credit card payments has been roughly 2.2 percent.

Of course, part of the reason late-payment rates are so low is that consumers are more conservative with their spending after a difficult few years during the Great Recession. In fact, people across the country are depending less on credit cards.

When you have the means to avoid using a credit card, it may be a good financial choice to do that. However, not everyone is in that position. While the worst of the recession may be over, many people continue to struggle with circumstances like job loss and illness that make it difficult to avoid credit card debt. When debt becomes overwhelming and even debilitating, it may be wise to consider bankruptcy.

Source: USA Today, “Credit card late payment rate rises slightly,” Alex Veiga, Nov. 20, 2013

Posted on behalf of Gingold & Gingold

1718 Peachtree St NW, #385
Atlanta, GA 30309

Phone: (404) 685-8800

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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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