Taking time to write a list of the debt will help the consumer identify the expenses made during the holidays.
Phoenix, AZ (PRWEB) January 09, 2014
January is the time of the year when reality sinks in - especially when it comes to the expenses of the past holiday season. In other words, this is when the terrible burden of holiday debts start to come crashing through.
With this in mind, National Debt Relief wishes to extend a helping hand to the millions of consumers who are forced to own up to their respective holiday debts. An article entitled “How To Pay Down Those Holiday Debts” was published in January 7, 2014 as a timely source of information for debt ridden consumers.
The article implies that getting in debt is a thing of the past and that consumers should try to just move forward from it the soonest they can. With this, National Debt Relief provided the following tips to help struggling consumers.
1. Write a list of the debts incurred. Taking time to write a list of the debt will help the consumer identify the expenses made during the holidays. If the consumer sees that the debt is too big to be paid at once, they can come up with a payment plan that their finances can afford.
2. Use any bonus received. In most cases, there are bonuses during the holidays. If the consumer was wise enough not to spend this, they can opt to use it to pay for the debt instead.
3. Avoid using credit cards. The article also advises consumers to stay away from credit card purchases. This is to avoid adding more debt into their balance. Consumers are advised to give it to a trusted friend or relative for safekeeping.
4. Sell off gifts and items that are not needed. Profiting from any gift received during the holidays or items that are not needed around the house is also a good idea. The proceeds can go the the debt payment fund of the consumer.
5. Sell gift cards that cannot be used. Like the previous advice, National Debt Relief advises consumers to sell of gift cards that they know will only expire on them. There are websites that can help consumers sell this off.
6. Make balance transfers. If the consumer’s problem is mostly on their credit cards, the articles suggests that they transfer the high interest balance to a new zero interest balance transfer card. This will help them save on the interest rate. Any payment that they will make can go straight to their principal balance.
7. Make weekly payments. Making weekly contribution will help reduce the interest amount that will have to be paid. The article advises that the consumer must check with their credit card company first to ensure that they accept this type of payment.
8. Adjust spending habits for the next three months or so. Lastly, National Debt Relief advises consumers to revise their spending plan to ensure that they can fund the debt payments.
National Debt Relief hopes that these tips will help consumers get back on their feet. To read more tips to help pay off holiday debt, click on this link: http://www.nationaldebtrelief.com/pay-holiday-debts/.
National Debt Relief is the leading debt settlement company in the country. They only employ debt experts that are certified by the IAPDA (International Association of Professional Arbitrators). They are given an A ranking by the Better Business Bureau and is a member of the American Fair Credit Council and US Chamber of Commerce. They have helped thousands of consumers get out of debt since they started operating in 2007.