Cnn put out an article in December talking about Holiday Debt.
Here is the article –
36% of Americans took on holiday debt this year — averaging $1,181 — survey finds. These tips can help
https://www.cnbc.com/2024/12/26/36percent-of-american-consumers-took-on-holiday-debt-averaging-1181.html
The excitement of the holiday season often leads many to rely on credit cards to cover gifts, travel, and celebrations. However, now that the holidays are over, the reality of that spending is setting in. A recent survey found that 36% of Americans took on holiday debt this year, averaging $1,181 per person. While these expenses may have seemed manageable at the time, rising interest rates and minimum payments are now making it harder for many to keep up. If left unchecked, holiday debt can quickly spiral into long-term financial struggles, especially for those already facing financial hardships.
As credit card statements arrive, many are seeing their minimum payments increase, making it difficult to stay on top of monthly bills. With high interest rates, even a few missed payments can lead to late fees, penalties, and a growing balance that feels impossible to pay down. For those juggling other financial challenges—such as job loss, medical bills, or everyday expenses—this additional burden can push them closer to serious financial distress. If you’re feeling overwhelmed by mounting credit card debt, it may be time to explore legal options that can provide real relief.
At Clayman Law, we help individuals and families find solutions to their debt problems, whether through bankruptcy or alternative debt relief strategies. If your holiday debt is making it harder to meet financial obligations, we can assess your situation and determine the best path forward. Whether you need help restructuring your debt, stopping creditor harassment, or exploring bankruptcy as an option, we are here to provide guidance and support. Don’t let holiday spending turn into a long-term financial struggle—reach out to Clayman Law today 856-777-5877 and take the first step toward regaining financial stability.