Cure the debt hangover, shed credit card debt

By Emily Starbuck Gerson

During the holidays, you showered your loved ones with gifts, whether you could afford it or not. You would have felt guilty if you couldn’t give them what they wanted.That’s what a credit card is for, right? Unfortunately, now that the holidays are over and the bills are arriving, your new year may be off to a rough start. According to Consumer Reports, only 65 percent of credit card users predict they will have holiday debt paid off by the end of January. Nineteen percent expect to still be paying off holiday debt in March or later. These sets of articles will help you understand why you keep finding yourself in holiday debt, how to get out of this mess and how to prevent it from happening again next year:

1. Consolidate or transfer your debt
2. What not to do to get out of debt
3. Steps for getting rid of debt now
4. Alleviate holiday debt and plan for the future

Consolidate or transfer your debt

Credit card debt consolidation options
Credit card debt can put a drag on your personal finances and limit your options. If you have major credit card debt, now might be the time to consider your credit card debt consolidation options.

Balance transfer can lessen post-holiday blues
Finding yourself buried in credit card bills after the holidays isn’t the best way to start the new year, but a balance transfer to a low-interest card can make the pay off a lot less painful.

What not to do to get out of debt

Four wrong ways to get out of credit card debt
Breaking free of credit card debt is a must, but it’s important to do it the right way. Avoid these four quick-fix pitfalls.

Minimum payments are not your friends
While dutifully sending in your minimum payment will keep the debt collectors at bay, paying only the minimum will greatly prolong your debt.

Steps for getting rid of debt now

Post-holiday debt: What's the real cost?
Pressure to buy your loved ones everything they want for the holidays is high, but the feeling when you get the bills arrive is pretty low. Follow this expert advice and you’ll be debt-free in no time.

Managing and getting rid of debt
If you are struggling with debt, it’s important to analyze your situation and map out a plan. Use these steps to dig yourself out of the hole.

Alleviate holiday debt and plan for the future

Eliminate holiday credit card debt: a 5-step plan
Step 1: Step away from the credit card!

How to escape that holiday credit card debt
The excitement of the holidays makes it easy to overspend, but the effects of major credit card use will be felt long after the new year rings in. Use these tips to prevent holiday debt from biting back next year.

Published: January 4, 2008

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