Another reason to avoid saying “Charge it!” – Credit cards

Another reason to avoid saying “Charge it!” – Credit cards

Despite the fact that economists’ numbers show the recession is over, for most Georgians, the state of their home economy remains fragile at best. The numbers of bankruptcy cases filed in Georgia this year is more than 30% higher than it was this time last year.

Our state’s high unemployment rate coupled with dim prospects for hiring into 2010 have made Georgians hesitate before heading off to the mall or the Internet.

Like the numbers reported from the rest of the country, our local media reported that Atlantans may have been out in greater numbers this past holiday weekend, but they were spending less money.

Call me a misanthrope, but I was happy to read that people kept their wallets clamped. I am a bankruptcy attorney, and I don’t want to see clients in my office in January and February clutching their Christmas credit card bills hoping that my magic wand can make them all go away.

Believe me when I tell you that your credit card company (and your bankruptcy attorney) will be looking at your statements to see how you used your cards in the months leading up to filing bankruptcy. It sometimes becomes necessary to defend the usage of credit cards–especially when it becomes apparent that the cards were used for non-essential ‘luxury’ purchases, and cash advances, or if it can be shown that the charges were made by someone who had no intention of paying them back. Sometimes we win this battle, and other times we face discharge complaints brought by creditors or the United States Trustees Office.

It’s scary. You don’t want to go there.

Please consider this to be a courteous warning: if you’re worried about your job, your marriage, your financial future such that you’re reading my blog, and considering calling me to find out your options in the bankruptcy court (and I’m happy to help) please put plastic funded gift-giving on ice this holiday season.

Give your time, and your spirit to the ones you love. They don’t really need the doo-dads and whozits and jibjabs. Honestly–they just need you.