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Columbia South Carolina Bankruptcy Law Blog

Reed Law Firm, P.A. is a federally designated debt relief agency in South Carolina. We proudly help people file for bankruptcy relief under the U.S. Bankruptcy Code.

How to successfully conquer holiday debt

Every year, most Americans anticipate spending hundreds of dollars on gifts, celebrations and food during the holiday season. However, 2020 will be the biggest year for holiday spending as sales grow rapidly for the holidays.

According to a survey from Magnify Money, the average person racks up $1,325 throughout November and December. And they won’t be able to pay off those debts by the end of January.

What does that mean for me?

While holiday debt is serious, it doesn’t mean you can’t indulge in some spending this year. What you need to do is follow some simple strategies to keep spending manageable, including:

If these strategies do not work for you, you may have more serious financial woes to address. And that’s ok. Do not be afraid of debt because there are always options to address unruly bills, such as bankruptcy or debt relief tactics.

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