Atlanta Bankruptcy Attorney Advice For Avoiding Late Bill Payments
Think those late payments are only hurting you? Think again.
Americans strapped for cash have been slow to pay their bills. And in turn, the people and businesses we're paying are slow to pay their own bills - slowing down the wheels of the entire economy, according to Atlanta bankruptcy attorneys. For example, a recent study showed that engineering and architectural businesses were paid an average of five days later in 2009 than in 2008, as mentioned in the New York Times. Tax preparers and accountants fared even worse, getting payments about 10 days later.
There's generally not much we can do as individuals to change the economy. But this might be the exception. By lowering debt so you can make on-time payments you not only help yourself, but you help the larger economic picture.
Of course, you can't exactly snap your fingers and magically find more money to pay the bills. But fortunately, there is a realistic method for freeing up cash - and it might be right under your nose. Most folks struggle with their monthly obligations because so much of their income is going to their debts, whether it's for credit cards, past medical bills or car loans. And on top of the principal balances you're paying off, debts also require interest.
Fortunately, bankruptcy is a time-tested way to reduce those overwhelming debts. By providing a realistic payment plan and legal protection, the right bankruptcy plan can help you free up more money every month, making it easier to pay bills like the mortgage or utilities, among other things. And with more cash in your pocket, you'll be less inclined to pull out the credit card, which will help you avoid future debts.
Not only will freeing up more funds help with the bill-paying, it will also help in times of emergency and get you on track to saving for the future, be it for retirement, that dream vacation or even that new pair of jeans.
Want to know if bankruptcy can save you from late payment fees and other financial maladies? It's free when you sign up for a free one-on-one debt analysis with an Atlanta bankruptcy attorney or when you join us at a free community financial workshop in your city. Learn how paying the bills can pay off in more ways that one.