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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.


Bill wants more online retailers to charge Georgia patrons a sales tax

Georgia's new law making more online retailers collect taxes on their sales to state residents just took effect Jan. 1, and already lawmakers are preparing to change it to add millions of dollars more ...

Published:  Fri, 15 Feb 2019 04:38:00 GMT

Georgia Lawmakers: If It Downloads, We Can Tax It

(TNS) - Possibly coming soon to a screen near you: a tax on Netflix and just about everything else you download or stream. Georgia lawmakers, coaxed by dozens of lobbyists swarming the state Capitol, ...

Published:  Tue, 12 Feb 2019 11:48:00 GMT

Georgia Lawmakers Push for Games And Streaming Services Tax

Georgia lawmakers are pushing for a tax on video games, digital video, books, music, and streaming services like Netflix which could result in internet users in the region paying more for download ...

Published:  Tue, 12 Feb 2019 08:00:00 GMT

Georgia tax revenues down for third straight month

Georgia tax collections declined 12.2 percent in January, the third consecutive month state revenues have been down. The state took in $2.25 billion in net tax revenue last month, a decrease of $314.1 ...

Published:  Mon, 11 Feb 2019 09:29:00 GMT

Georgia Lawmakers Aiming To Impose Tax On Streaming Services

Legislators in Georgia are proposing a 4% tax on digital media, which would include videos, books, games, and music. They claim this tax would be used to help fund internet projects in the state's rur...

Published:  Fri, 15 Feb 2019 12:02:00 GMT

2019 Income Tax Season: Filing Under Way In GA, Where's Refund

ATLANTA, GA - The 2019 tax season is under way, with Georgia Department of Revenue workers starting to process returns on Feb. 1. Officials encourage taxpayers to file early to reduce the risk ...

Published:  Thu, 07 Feb 2019 06:00:00 GMT

Georgia's struggling areas could benefit from smart use of federal opportunity zones

Buried in the Tax Cuts and Jobs Act of 2017 was a provision ... Nathan Deal designated 260 Census tracks across 79 Georgia counties to be federal qualified opportunity zones.

Published:  Sun, 17 Feb 2019 12:57:00 GMT

Georgia lawmakers propose tax exemption on military retirement income

SAVANNAH, Ga. (WSAV) - A tax break could be coming soon for Georgia's military retirees. Lawmakers are considering a bill that would eliminate the state's income tax on all military retirements. "I ch...

Published:  Mon, 11 Feb 2019 16:10:00 GMT

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