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CHATTANOOGA, TN, January 23, 2014 /24-7PressRelease/ -- The Chattanooga bankruptcy lawyers at Clark & Washington would like to stress the importance of smart holiday shopping. For most people, it is hard not to spend at least a few hundred dollars on Christmas for your loved ones, especially if you have children. When you have a lot of friends and relatives to buy for, even cheap items can make a dent on your bank account.
What To Do When You Overdo It
Despite being an annual experience, a lot of us tend to get into trouble financially this time of year. We spend beyond our means and are forced to pay back holiday debt in various ways. Credit cards are always an attractive option, but not when you have a high interest rate to contend with. The Chattanooga bankruptcy attorneys note that if you have reached an unsafe spending limit and are not sure how to get out of the hole, a few options are available.
There is little that can be done to recover the immediate expenses of holiday shopping, save perhaps returning items. If your credit is in good enough shape, you should try transferring your existing balances onto a card with a lower annual interest rate. A few percentage points can potentially mean hundreds of dollars in savings. Seeking help from friends or relatives is the best way to avoid having to pay any interest charges, as long as you know someone who is willing to loan the funds.
The Chattanooga bankruptcy lawyers say that setting a budget and carefully assessing your income is the only long-term solution for debt. If you are being contacted by debt collectors and fear that your credit may be in jeopardy, contact them today for a free consultation.
Clark & Washington is a leading Chattanooga bankruptcy law firm. For more information, please visit them at http://www.chattanooga-bankruptcy-attorney.com.
About Clark & Washington:
Established in 1983, Clark & Washington is now one of the leading bankruptcy filers in the Southeast. They have locations in Georgia, Florida and Tennessee. Clark & Washington specializes in personal chapter seven and 13 bankruptcy. They offer honest, helpful legal advice to those experiencing financial hardships.
For more information, visit http://www.chattanooga-bankruptcy-attorney.com.
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