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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 Senate gives final approval to storm relief, airline tax bills

Less than nine months after state lawmakers shelved a tax break for airlines like Delta when the company snubbed the National Rifle Association, all was forgiven Saturday. Breaking marketing ties with ...

Published:  Sat, 17 Nov 2018 08:59:00 GMT



Hurricane relief, Delta tax break clear General Assembly

The Georgia Senate signed off Saturday on Hurricane Michael relief and a sales tax exemption on jet fuel, putting the wraps on a five-day special session of the General Assembly. Senators voted 43-9 t...

Published:  Sat, 17 Nov 2018 08:03:00 GMT



Georgia House Gives 2nd Chance to $40M Jet Fuel Tax Break

ATLANTA (AP) - The Georgia House voted Thursday to give a second chance to a $40 million tax exemption on jet fuel that lawmakers defeated months earlier in a spat over gun rights with Delta Air Lines ...

Published:  Thu, 15 Nov 2018 14:20:00 GMT



The Latest: Legislature OKs $4OM tax break for airlines

Georgia lawmakers' five-day special session has ended with the Senate giving final approval to a tax break that will save airlines $40 million before the perk expires next summer. The state Senate vot...

Published:  Sat, 17 Nov 2018 16:12:00 GMT



The Crucial Significance of Lucy McBath's Win in Georgia's Sixth Congressional District

McBath's victory reflects several trends: the inroads that Democrats are making in Republican suburban districts that Trump's tax cuts and border-fearmongering ... There are other, subtler dynamics at ...

Published:  Sat, 17 Nov 2018 21:43:00 GMT



Georgia House OKs Delta sales tax exemption

Atlanta-based Delta Air Lines Inc. and other air carriers operating in Georgia would keep a state tax exemption on sales of jet fuel under legislation that cleared the state House of Representatives T...

Published:  Thu, 15 Nov 2018 11:16:00 GMT



Georgia legislature passes hurricane aid, $40M airline perk

ATLANTA (AP) - Georgia lawmakers ended their special legislative session Saturday with the state Senate giving final approval to $470 million in emergency aid and tax incentives to victims of Hurrican...

Published:  Sat, 17 Nov 2018 16:57:00 GMT



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