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Debt Consolidation in Georgia
(Note: this is for educational purposes only, and although efforts have been made to keep this up to date and correct, there are no guarantees about the accuracy of anything contained below. It should not be construed as legal advice. For legal advice, please consult with an attorney licensed in Georgia.)
With consumer debt seemingly rising by the day, many people in Georgia are being targeted by advertisements from debt consolidation and consumer credit counseling services in Georgia. Unfortunately, very few people can differentiate between what type of debt management service is being advertised. Even less can figure out whether the company advertising is actually reputable. The goal of PayingPaul.Com is give consumers the information they need to make the decision about what is the best debt solution?.
In order to do this, one must first become educated about what debt options are available. There are two main ways to consolidate debt: credit counseling and debt settlement. Credit counseling is typically offered by non profit debt companies. If your situation permits, these organizations may enroll you in a debt management plan, which involves working with credit card companies to reduce your finance charges. Although your plan may be administered by a non-profit, this is no guarantee that there services are legitmate or even affordable.
Debt settlement is quite different. These companies will work on your behalf to negotiate a lump sum debt settlement. This means you can pay off your debt for less than what you actually owe. Although the promises these companies offer may be tempting, these programs are risky and a difficult process to go through. When a consumers enrolls in a settlement program, they stop paying their creditors and start saving money each month in a separate bank account until enough funds have accumulated to offer a settlement. Once this happens, the company will contact the creditors and negotiate to get them to agree to accept a lump sum, in many cases for much less than what is owed, to completely satisfy the balance. Unfortunately, because you are past due during the course of the program, your credit will be impacted, and you will experience collection activities, from annoying phone calls and threats to even litigation.
Do you want to learn more about how debt consolidation works? Submit a form and let PayingPaul.Com match you with a debt professional!
With consumer debt seemingly rising by the day, many people in Georgia are being targeted by advertisements from debt consolidation and consumer credit counseling services in Georgia. Unfortunately, very few people can differentiate between what type of debt management service is being advertised. Even less can figure out whether the company advertising is actually reputable. The goal of PayingPaul.Com is give consumers the information they need to make the decision about what is the best debt solution?.
In order to do this, one must first become educated about what debt options are available. There are two main ways to consolidate debt: credit counseling and debt settlement. Credit counseling is typically offered by non profit debt companies. If your situation permits, these organizations may enroll you in a debt management plan, which involves working with credit card companies to reduce your finance charges. Although your plan may be administered by a non-profit, this is no guarantee that there services are legitmate or even affordable.
Debt settlement is quite different. These companies will work on your behalf to negotiate a lump sum debt settlement. This means you can pay off your debt for less than what you actually owe. Although the promises these companies offer may be tempting, these programs are risky and a difficult process to go through. When a consumers enrolls in a settlement program, they stop paying their creditors and start saving money each month in a separate bank account until enough funds have accumulated to offer a settlement. Once this happens, the company will contact the creditors and negotiate to get them to agree to accept a lump sum, in many cases for much less than what is owed, to completely satisfy the balance. Unfortunately, because you are past due during the course of the program, your credit will be impacted, and you will experience collection activities, from annoying phone calls and threats to even litigation.
Do you want to learn more about how debt consolidation works? Submit a form and let PayingPaul.Com match you with a debt professional!
Georgia Debt Management Regulations
The state of Georgia has been aggressive in protecting its residents from unscrupulous debt companies. The following is an overview of the laws that are in place to ensure that Georgia residents are receiving debt management programs that are affordable and legitimate.
Definition
Georgia statutes use the term “debt adjusting” to describe the activities of companies “doing business in debt adjustments, budget counseling, debt management, or debt pooling service or holding oneself out, by words of similar import, as providing services to debtors in the management of their debts and contracting with a debtor for a fee to:
(A) Effect the adjustment, compromise, or discharge of any account, note, or other indebtedness of the debtor; or
(B) Receive from the debtor and disburse to his or her creditors any money or other thing of value.”
Fees
Under Georgia law, debt consolidation, debt management firms and anyone else operating as a “debt adjuster” is limited in the amount of fees they can charge. The limit is 7.5% of the monthly payment paid to the consumer’s creditors (not including insufficient funds transactions).
Exemptions
It should be noted that the following entities are exempt under the Georgia law governing “debt adjusting”:
-anyone who is “engaged in debt adjustment incurred in the practice of law in the state” (in layman’s terms, this means lawyers licensed in Georgia)
- the Federal National Mortgage Association;
- the Federal Home Loan Mortgage Corporation;
-most banks, credit unions, credit card companies, trust companies, etc.
Please feel free to visit this link for more information about the debt laws in this state: http://www.legis.ga.gov/legis/2003_04/search/hb385.htm
Having Problems
Are you having problems with a debt consolidator and you weren’t able to resolve it on your own? Follow this link to file a complaint (WARNING: PDF).
Again, by no means is this a complete review of the laws surrounding debt consolidation and credit counseling in Georgia. PayingPaul.Com also makes no guarantees about the accuracy of anything contained herein. For legal advice, please consult an attorney.
Debt Agencies in Georgia
CCCS of Southwest Georgia
Albany, GA 31701
CCCS of Southwest Georgia
Americus, GA 31709
CCCS of Greater Atlanta, Inc.
Atlanta, GA 30303-7662
CCCS of Greater Atlanta, Inc.
Atlanta, GA 30303
CCCS of the Central Savannah River Area
Augusta, GA 30904
CCCS of the Savannah Area, Inc.
Brunswick, GA 30520
Partnership for Famileis, Children and Adults, Inc./CCCS Division
Calhoun, GA 30701
CCCS of West Georgia/East Alabama
Columbus, GA 31902
Partnership for Families, Children and Adults, Inc./CCCS Division
Dalton, GA 30720
CCCS of Greater Atlanta, Inc.
Decatur, GA 30030
CCCS of Greater Atlanta, Inc.
Douglasville, GA 30135
CCCS of Greater Atlanta, Inc.
Duluth, GA 30096
CCCS of Greater Atlanta, Inc.
Duluth, GA 30097
CCCS of Greater Atlanta, Inc.
Gainesville, GA 30501
CCCS of the Savannah Area, Inc.
Hinesville, GA 31313
CCCS of West Georgia/East Alabama
LaGrange, GA 30241
CCCS of Middle Georgia, Inc.
Macon, GA 31201
CCCS of Greater Atlanta, Inc.
Marietta, GA 30067
CCCS of the Savannah Area, Inc.
Rincon, GA 31322
CCCS of Greater Atlanta, Inc.
Rome, GA 30165
CCCS of the Savannah Area, Inc.
Savannah, GA 31406
CCCS of the Savannah Area, Inc.
Statesboro, GA 30458
CCCS of Greater Atlanta, Inc.
Stockbridge, GA 3021
CCCS of Southwest Georgia
Tifton, GA 31794
CCCS of Southwest Georgia
Valdosta, GA 31062
CCCS of Middle Georgia, Inc.
Warner Robins, GA 31093
CCCS of Jacksonville (Family Foundations)
Waycross, GA 31501
Other Resources
Filing Bankruptcy in Georgia
Bankruptcy Laws in Georgia
Debt Collection in Georgia
The state of Georgia has been aggressive in protecting its residents from unscrupulous debt companies. The following is an overview of the laws that are in place to ensure that Georgia residents are receiving debt management programs that are affordable and legitimate.
Definition
Georgia statutes use the term “debt adjusting” to describe the activities of companies “doing business in debt adjustments, budget counseling, debt management, or debt pooling service or holding oneself out, by words of similar import, as providing services to debtors in the management of their debts and contracting with a debtor for a fee to:
(A) Effect the adjustment, compromise, or discharge of any account, note, or other indebtedness of the debtor; or
(B) Receive from the debtor and disburse to his or her creditors any money or other thing of value.”
Fees
Under Georgia law, debt consolidation, debt management firms and anyone else operating as a “debt adjuster” is limited in the amount of fees they can charge. The limit is 7.5% of the monthly payment paid to the consumer’s creditors (not including insufficient funds transactions).
Exemptions
It should be noted that the following entities are exempt under the Georgia law governing “debt adjusting”:
-anyone who is “engaged in debt adjustment incurred in the practice of law in the state” (in layman’s terms, this means lawyers licensed in Georgia)
- the Federal National Mortgage Association;
- the Federal Home Loan Mortgage Corporation;
-most banks, credit unions, credit card companies, trust companies, etc.
Please feel free to visit this link for more information about the debt laws in this state: http://www.legis.ga.gov/legis/2003_04/search/hb385.htm
Having Problems
Are you having problems with a debt consolidator and you weren’t able to resolve it on your own? Follow this link to file a complaint (WARNING: PDF).
Again, by no means is this a complete review of the laws surrounding debt consolidation and credit counseling in Georgia. PayingPaul.Com also makes no guarantees about the accuracy of anything contained herein. For legal advice, please consult an attorney.
Debt Agencies in Georgia
CCCS of Southwest Georgia
Albany, GA 31701
CCCS of Southwest Georgia
Americus, GA 31709
CCCS of Greater Atlanta, Inc.
Atlanta, GA 30303-7662
CCCS of Greater Atlanta, Inc.
Atlanta, GA 30303
CCCS of the Central Savannah River Area
Augusta, GA 30904
CCCS of the Savannah Area, Inc.
Brunswick, GA 30520
Partnership for Famileis, Children and Adults, Inc./CCCS Division
Calhoun, GA 30701
CCCS of West Georgia/East Alabama
Columbus, GA 31902
Partnership for Families, Children and Adults, Inc./CCCS Division
Dalton, GA 30720
CCCS of Greater Atlanta, Inc.
Decatur, GA 30030
CCCS of Greater Atlanta, Inc.
Douglasville, GA 30135
CCCS of Greater Atlanta, Inc.
Duluth, GA 30096
CCCS of Greater Atlanta, Inc.
Duluth, GA 30097
CCCS of Greater Atlanta, Inc.
Gainesville, GA 30501
CCCS of the Savannah Area, Inc.
Hinesville, GA 31313
CCCS of West Georgia/East Alabama
LaGrange, GA 30241
CCCS of Middle Georgia, Inc.
Macon, GA 31201
CCCS of Greater Atlanta, Inc.
Marietta, GA 30067
CCCS of the Savannah Area, Inc.
Rincon, GA 31322
CCCS of Greater Atlanta, Inc.
Rome, GA 30165
CCCS of the Savannah Area, Inc.
Savannah, GA 31406
CCCS of the Savannah Area, Inc.
Statesboro, GA 30458
CCCS of Greater Atlanta, Inc.
Stockbridge, GA 3021
CCCS of Southwest Georgia
Tifton, GA 31794
CCCS of Southwest Georgia
Valdosta, GA 31062
CCCS of Middle Georgia, Inc.
Warner Robins, GA 31093
CCCS of Jacksonville (Family Foundations)
Waycross, GA 31501
Other Resources
Filing Bankruptcy in Georgia
Bankruptcy Laws in Georgia
Debt Collection in Georgia