Did your holidays end in credit card debt?

Many Louisiana residents are currently winding down their holiday seasons, perhaps some with a few outstanding party dates that were postponed in the new year. While most people enjoy celebrating with friends, family members and co-workers, it is also not uncommon for people to feel relieved when the festive season comes to a close. All the shopping, gift buying and wrapping, and other “leg work” that goes into a typical holiday season can leave consumers feeling exhausted, overworked and stressed about the credit card debt they may be left with when all is said and done.

Current data shows that nearly 30 percent of consumers who used credit cards for last year’s holiday expenses have still not paid off their balances. There are several ways to gain the upper-hand over post-holiday debt. There are also support options available for those whose financial situations have gotten out of hand, with no feasible means to pay off debt.

Limiting holiday expenditures to one credit card is often a good idea. This allows a cardholder to keep paying down his or her other cards without adding to the balance. Returning gift items that did not fit or that wound up not being quite what a recipient was hoping for is another way to lower a credit card balance after the holidays.

If duplicate gifts are received or new items were meant to replace old ones, some things can be sold to bring in funds to help pay off credit card debt. A Louisiana debt relief attorney can provide additional information regarding other options, such as bankruptcy, that may be a viable solution to a serious post-holiday debt problem. Such options often help alleviate debt while laying the groundwork for restored financial stability down the line.