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      November 16, 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 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

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 lawmakers preparing to end special session Saturday

ATLANTA | Georgia lawmakers are preparing to finalize $470 million in emergency aid and tax credits for victims of Hurricane Michael as well as a $40 million tax break for airlines in a final round of ...

Published:  Fri, 16 Nov 2018 11:49:00 GMT

Real Time Economics: Taxes, Trade and a Troubled Brexit

The tax law enacted last year lowered tax rates ... Ports in Southern California, Georgia and Virginia reported double-digit growth in import volume from September to October, setting monthly ...

Published:  Fri, 16 Nov 2018 04:23:00 GMT

Georgia House approves $200M timber tax credit

ATLANTA (AP) - The state House has approved a $200 million tax credit to encourage timber growers to replant acreage ravaged by Hurricane Michael. The House voted 157-2 Thursday to approve the tax cre...

Published:  Thu, 15 Nov 2018 18:48:00 GMT

Georgia House to vote on hurricane relief, jet fuel tax

ATLANTA (AP) - Lawmakers in the Georgia House are preparing to vote on $470 million in hurricane relief proposals in addition to reconsidering a controversial tax break for airlines. The House votes w...

Published:  Thu, 15 Nov 2018 14:33:00 GMT

Former IRS employee in Georgia sentenced for identity theft

Prosecutors say on at least five occasions, Parker obtained taxpayers' Social Security numbers and addresses and used the information to file fraudulent tax returns. Prosecutors say Parker directed th...

Published:  Fri, 16 Nov 2018 05:42:00 GMT

Everything you should be doing to prepare for tax season

Georgia to create the ultimate checklist for preparing for tax season. Make sure you have your social security or tax ID card. You will also want to bring your unexpired driver's license ...

Published:  Fri, 16 Nov 2018 07:03:00 GMT

Georgia House approves $470M to fund hurricane relief

ATLANTA (AP) - The Georgia House overwhelmingly approved $470 million in emergency aid and tax credits Thursday to help communities devastated by Hurricane Michael, citing a dire need for help with ru...

Published:  Thu, 15 Nov 2018 13:24:00 GMT

Georgia House gives jet fuel tax break another chance

ATLANTA (AP) - A $40 million tax break on jet fuel is getting a second chance in the Georgia legislature, having easily passed the state House. The House voted 141-18 on Thursday to approve the tax ex...

Published:  Thu, 15 Nov 2018 11:34:00 GMT

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