Charles Dickens’s tale, A Christmas Carol, is one of the best loved Christmas stories of all time, but if you are struggling with debt and facing a miserable Christmas, it is time to act now before the ghosts of Christmas past, present and future are hammering on your door and threatening to ruin your festive holiday!
Why Ignoring Debt In The Run Up To Christmas Is A Terrible Idea
Ostriches are known for sticking their head in the sand when trouble looms on the horizon. No doubt they think that if they can’t see the hungry predator stalking them from the bushes, it won’t eat them for lunch. Sadly this is a very misinformed approach and ignoring a problem is not going to make it disappear. So although it may be too late for that ostrich we mentioned it is not too late for you!
We know that Ebenezer Scrooge was not a big fan of Christmas, but for most of us, Christmas is a time when we enjoy catching up with family and friends and celebrating the holiday period according to our religious beliefs. It is a time of great cheer. Or it is when you have a roof over your head, food on the table and gifts beneath the tree, which is not likely when you are up to your eyeballs in debt and your creditors are threatening to foreclose on your loans.
Don’t Be An Ostrich!
The only way to dig yourself out of a huge debt hole is to face the truth and accept that you need help. You might well be on the verge of cancelling Christmas because you have no money and are facing bankruptcy, but just like Scrooge, you will be able to enjoy Christmas as long as you stop living in denial and deal with your demons.
How NOT To Deal With Debt Problems
As we have already discussed, playing the ostrich game is not sensible. But there are worse ways to deal with debt problems, so before we talk about possible solutions to your woes, we will look at those first. Borrowing from Peter to pay Paul is ill advised. Unfortunately, however, this is how many people sink even further into debt: they can’t pay their bills or make loan repayments, so they take out high interest credit cards to cover the payments. In no time at all the credit is maxed out and the debt has quadrupled. Worse still, many people in serious debt turn to Pay Day loan companies for a short-term loan and when they are unable to make the repayments, interest accumulates at a frightening rate.
Sensible Ways To Deal With Debt
When you are drowning in debt, the best way out of the mire is to seek help from professional debt counsellors. These people are trained to help and advise those in serious financial difficulties and no matter how bad you think your situation is the chances are good that they have seen it all before, and then some.
What Can Debt Management Do For Me?
Debt can be managed in a number of different ways and a debt counsellor’s job is to look at your problems and find the best solutions for your individual circumstances. Every individual is different and what works for one person might not be the right approach for another, but debt counsellors are trained to look at complex issues and help their clients avoid serious financial meltdown, including bankruptcy and loss of the family home.
Debt Management Solutions
Rather than struggling to make the payments on multiple credit cards and personal loans, debt can be consolidated into one manageable (and lower) repayment per month. A debt counsellor may also be able to contact creditors on your behalf and negotiate lower interest rates. They may even be able to write off some of your debt altogether.
How Can A Debt Counsellor Help Save My Christmas?
By dealing with debt in the right way, you should be able to reduce your monthly outgoings enough to allow you to live once again. So instead of turning the lights off every evening in the hope that the bailiffs leave you alone or seeing every penny you earn swallowed up by credit card and loan repayments, with the aid of an effective debt management program, your revised monthly budget will hopefully allow for a few small gifts and a decent spread on Christmas Day.
How Can I Prevent This From Happening All Over Again?
The only way to avoid falling into debt Hell all over again is to learn from the mistakes you made the first time around, namely don’t spend what you don’t have. It may be a bitter pill to swallow, but instant gratification spending on credit is a very easy way to sink into debt. Saving up for things may take longer, but at least you will appreciate them more!
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Digging your way out of a debt mountain is never easy, but there are debt management solutions available for everyone, no matter how bad you think your problems are. So if you need help before Christmas disappears into the dark abyss, contact a debt counsellor at www.consolidatedcredit.org for debt management help and sympathetic advice.