With the holiday season quickly approaching, it may seem that everywhere you look there is a holiday offer or enticing deal. Holiday shopping can be fun but also dangerous, especially when your plan is to finance it using your credit cards.
Every year consumers approach the holidays already in debt and dig themselves into a deeper hole during the holiday season thereby facing huge credit card bills in the New Year. Those who have already maxed out credit cards and are barely able to make minimum payments, may be wondering how they are going to finance this holiday season at all.
Believe it or not, while the holidays are a time to enjoy with family, it can also be the source of immense financial and emotional stress, especially as it relates to debt. Instead of adding to your personal debt this holiday season, why not go into this holiday season with a strong financial plan to get out of debt?
The primary reason that families go into debt over the holidays is because of a lack of cash flow. Let’s face it, the recession in 2008 has caused many families to rack up personal credit that they are still trying to pay for today. If you are approaching this holiday season with more than $10,000 in household debt, then finding a solution to get out of debt and get debt relief should be your first priority.
Dealing with your debt before the holidays will not only free up cash flow but will also enable you to go into the New Year on fresh footing. You may have already gone to your bank for a debt consolidation loan, only to be turned down. You may be thinking that there isn’t a way to get debt relief before the holidays.
Your bank is not the only option available to consolidate and eliminate your debt. There are many options available to achieve debt relief, however, the key is to choose an option that best considers your entire financial situation and results in the best deal for you. This can be tough when you are out there on your own struggling to find the answer to get out of debt.
It is easy to procrastinate, thinking that you can deal with your debt in the New Year, but can you imagine starting 2012 without a landslide of credit card bills to deal with? Strong financial planning, budgeting and access to resources that help you achieve your financial goals will enable you to start the New Year stress free and with more cash in your pocket.
Banks, trustees in bankruptcy, credit counsellors and finance companies will offer “free financial assessments or consultations” as a gimmick to bait you into their offices, at which point they will offer you their financial products and services. This will often result in more debt, a bankruptcy or a financial arrangement that favours your creditors. There is unbiased financial help available to help you get out of debt and get relief before the holidays. The kind of help that doesn’t involve more debt or bankruptcy. This holiday season get financial help from an organization who represents you, not your creditors!