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      September 22, 2018

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Debt Consolidation in Georgia

Georgia MapDuring the Great Recession of 2008, many consumers found themselves getting further and further behind on the bills due to loss of employment and stagnant wages. Many consumers now are in the throes of debt collection an unpleasant process that can cause unnecessary anxiety.

In Georgia, 67.4 percent of consumers currently are behind on their mortgages, according to data released by the Urban Institute. The average debt in Georgia is $46,668, with 42 percent of that debt currently in collections.

Consumers who are in the unfortunate position of having their debt turned over to a collection agency still have protections in place. Under the Fair Debt Collection Practices Act, debt collectors are required to treat consumers fairly and are prohibited from engaging in certain practices in an attempt to recover money owed to creditors.

Additionally, in Georgia, consumers also are protected by the Georgia Industrial Loan Act, which applies to loans or advances of money of $3,000 or less. The law requires consumer loan agencies to possess a license; they are limited to the amount of fees, interest and late charges that can be applied to consumer loans; and they have to follow proper protocol when extending the debt.

Debt collectors or loan agencies that violate the provisions can be reported to the Georgia Industrial Loan Commissioner. Additionally, consumers can opt to file a civil lawsuit against the agency.

Consumers who wish to work toward paying off their debt can employ the services of a consumer credit counseling service. These services are able to negotiate lower payments, and even help consumers apply for debt consolidation if they qualify.


Georgia Chamber launches coalition to protect film tax credit

The Georgia Chamber of Commerce likes Georgia's film tax credit enough that it has launched a statewide advocacy group that will work to keep it. The Georgia Screen Entertainment Coalition (GSEC) laun...

Published:  Wed, 12 Sep 2018 12:45:00 GMT

Even for Californians, federal taxes are going down

Instead of bad-mouthing the federal reforms, Gov. Brown should acknowledge that California's high taxes are detrimental to the economy and encourage the Legislature to follow the example of Georgia, I...

Published:  Fri, 21 Sep 2018 19:00:00 GMT

DICK YARBROUGH: Does anybody care what Georgia's schoolteachers think

"They" are our intrepid public servants under the Gold Dome, who siphoned $100 million out of the state budget for tax credits so parents can avoid sending their kids to public schools in Georgia. In ...

Published:  Fri, 21 Sep 2018 20:51:00 GMT

City of Richmond Hill proposes tax increase for new development

RICHMOND HILL, GA (WTOC) - One of the fastest growing cities in the nation is making plans to support even more growth. Richmond Hill City Council has voted unanimously to propose tax allocation distr...

Published:  Wed, 19 Sep 2018 20:05:00 GMT

Private tax collection, raising much less than expected, hit again

Rep. John Lewis, D-Ga., has another recommendation the tax collectors won't like - stop using outside bill collectors. "The use of private collection agencies is a disservice to the taxpayer and to th...

Published:  Fri, 21 Sep 2018 05:39:00 GMT

Gillum's proposed corporate tax hike: Just as controversial now as in 1970

"Sears paid Georgia to sell those shirts. $500,000 a year to sell those shirts. And people got indigent," said Askew. Now, Gillum is proposing raising the corporate tax "Not one Floridian will pay a d...

Published:  Wed, 19 Sep 2018 00:03:00 GMT

Sales Tax and Bitcoin in the United States Can Be Confusing

and Georgia that have cryptocurrency laws either being drafted or being reviewed by governors, senators and house representatives in those regions. Internationally sales tax law in other countries ...

Published:  Wed, 12 Sep 2018 19:35:00 GMT

Troubled Georgia nuclear project faces another fateful moment

It got hefty support from federal and state political leaders, a streamlined regulatory approval process and big federal tax breaks and loans. But Georgia PSC staff and an independent monitor for the ...

Published:  Fri, 21 Sep 2018 16:44:00 GMT

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