January Brings New Year's Debt & Credit Hangover

Spending with credit cards for Christmas and the holiday season hit an all time high. Now many people are facing a financial crisis as collection departments of creditors and collection agencies start to call.

(PRWEB) January 16, 2005 -- From Nov. 1 to Jan. 2, consumer spending on Visa credit cards exceeded $110 billion, up 6.8 percent from the previous holiday season. Debit spending grew to more than $90.6 million, a 26.2 percent spike from this time in 2003.

And now the time is coming with bills appearing in the mail to "pay the piper". Many people will not have a problem making at least a minimum payment. However, Sandie Brooks, a credit counselor at Community Credit Counselling Services of York Region, a non profit organization, says that there are people who are finding themselves over extended and not knowing what to do. Simply put some people are in such desperate financial straits after the holiday spending binge that bankruptcy may seem to be the only way out. But there is help!

Brooks pointed out that if they know they are heading for trouble now is the time to call a credit counselling service. "This is like preempting the stress of collection calls" Brooks said. "If you know you are going to have trouble now is the time to call a reputable credit counselling service in your area."

Calling and setting up an appointment with a not-for-profit Credit Counselling service will allow you to get the remedy you need for your financial hangover. As well you will at least be able to get a new financial start and stop the collection calls from collection agencies.

So if you have a Financial Hangover from the Christmas & Holiday spending binge, reach for the remedy by calling a reputable not-for-profit credit counseling service today.

In The Greater Toronto Area contact Community Credit Counselling Services at 905-707-7695 or visit the website at http://wwww.credit-canada.com or http://www.debthelpcanada.com to learn more.

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