Fewer Atlanta Homeowners Late On Mortgage Payments This Holiday Season

It looks like many Atlanta residents are going to spend this Thursday giving thanks for the food on their table - and the roof over their head.

Despite rising costs and holiday pressure, fewer homeowners are becoming delinquent on their house payments, according to new foreclosure data. Part of the change can be attributed to an improving economy and budget-conscious consumers. In fact, consumer debt is currently at the lowest rate it's been in years. On the other hand, experts say that another reason delinquency rates are down is that banks are finally evicting some homeowners who haven't paid the bills for months and months. If only they had known about their options.

For some homeowners, months of hard work is finally paying off. By cutting costs, sticking to a budget and saving a little bit more each month, many folks have been able to take control of their finances and once again afford to pay the mortgage. But many aren't so fortunate. And holiday bills and stresses might only make things worse.

If you're still struggling to pay the mortgage despite slashing your budget, it might be debt - not you - that's the problem. When you're deep in debt, it can feel like you're taking two steps back for every one step forward. That's because the bigger your debt grows, the less of your bill you can pay each month. And the less you pay, the more your debt continues to grow - until you can scarcely afford to make the minimum monthly payment, let alone any other bills.

But you don't have to spend the rest of your life on the credit card merry-go-round. There's a proven exit strategy, a way to take back control of your finances and start anew. It's called Chapter 13 bankruptcy. When you file for Chapter 13, a legal tool called the automatic stay protects your house from the bank while you settle on an affordable way to lower debt so you'll have more money leftover each month to pay the bills. Have questions about bankruptcy? Get answers for free when you try a complimentary one-on-one debt analysis with a professional Atlanta bankruptcy attorney. You've got nothing to lose - but so much to gain.

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