How Debt Settlement Industry Leader Credit Solutions Counsels Clients to Make It Through the Holidays

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The former American dream was to own a house; now, it’s to live debt-free. That’s what the nation’s debt settlement industry leader tells its clients around this time of year. With U.S. consumer credit at $2.58 trillion, more Americans may be following suit.

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You've got to change your mindset and distinguish between needs and wants. You need to eat, but the average family could save $3,000 a year buying generic.

"I tell clients, 'The true measure of wealth is how long you could live without working,'" says Trice King, Credit Solutions Assistant VP of Client Services. "You've got to change your mindset and distinguish between needs and wants. You need to eat, but the average family could save $3,000 a year buying generic."

Many retailers launched their holiday specials early this year to motivate budget-conscious buyers who are tightening up their spending. While Cyber Monday online sales were up a solid 15% over the Monday after Thanksgiving last year, retail industry analysts project flat sales this holiday season.1

To help customers avoid accumulating more debt during the holidays, Credit Solutions debt consultants encourage clients to keep saving rather than spending by:

Passing down a family heirloom or make something yourself instead of buying gifts. Shopping vintage at flea markets and antique malls to avoid paying full-price at department stores and malls. Comparing prices online before you buy. Mailing packages early. Only buying gifts for children. Only spending what you can afford to pay in cash. The holidays are all about family and friends, King says. Setting reasonable expectations and sharing a holiday meal will help keep holiday spirits high – and your debt, low. Once they're out of debt, people are much better off, and "that's what your family is going to remember most."

About Credit Solutions

The nation's debt settlement industry leader, Credit Solutions is recognized by American Business Awards for the "Best Customer Services Department in Financial Services." A platinum-level member of the International Association of Professional Debt Arbitrators, Credit Solutions also is a charter policy partner of the United States Organization for Bankruptcy Alternatives (USOBA) and accredited through BSI Management Systems for compliance with USOBA Best-Practice Standards. For more information about Credit Solutions and its debt management program, visit http://www.creditsolutions.com or call toll-free (800) 353-7630.

1 Economy to Significantly Slow U.S. Online Holiday Sales, Forrester Research, Oct. 22, 2008; and 'Cyber Monday' spending up 15% over 2007, comScore, Inc., Dec. 3, 2008.

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