The holidays tend to be a time when going overboard is acceptable, and it feels good to treat your loved ones in Little Rock to special gifts. Now that the new year is here, and you are facing a mountain of debt as a result of your generosity, damage control does not necessarily have to be the end of your fun. The law firm of Robertson, Oswald & Associates has helped many clients recover from the pressures of holiday debt.
You may have more money to pay toward your debts if you stay at home, but if you never get to enjoy yourself, you are more likely to give up your good intentions and splurge again. Bankrate.com provides some tips for recovering from your spending sprees and reducing or eliminating your excess debt without suffering.
To spend less when you go out with family or friends, make restaurant trips cover two meals by requesting half of your entrée to go, or spend time together over lunch or coffee, instead of dinner and drinks. Geocaching, sports and other outdoor activities provide you with exercise and fresh air without the cost of a gym membership, while local libraries typically offer programs, books, movies, electronics and other free entertainment.
If your debts are unmanageable, even after you change your spending habits and free up extra money for payments, other methods may be available to you. Although starting over is a big step, sometimes the only way to recover from credit card debt is a Chapter 7 or Chapter 13 bankruptcy. More information about this topic is available on our web page.