Bryan P. Keenan & Associates, P.C.
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Bryan P. Keenan

Holiday shoppers still paying off last year's debt

The holiday season is here, and all throughout Pittsburgh, Pennsylvania, shoppers may still be searching for the perfect gifts for their friends and loved ones. As they search shops and online for the presents, they hope to surprise others with they may be aware of the growing balances on their credit cards. It is not unusual for shoppers to spend a little more money than they intend during the holidays, but it may surprise some readers to know how long it takes people to pay that debt off.

According to Nerd Wallet, close to 50 million Americans are still carrying debt from their 2018 holiday shopping. A full year later, shoppers are still managing payments on the purchases they made as they bought gifts and other goods during the prior holiday season. As shoppers spend more this year, that existing debt may compile into bigger sums that may become too unwieldy for shoppers to handle.

There are ways for debtors to prevent excessive holiday spending and debt, such as creating budgets and setting spending limits. But, once purchases are made it can be hard to implement these and other strategies. Some individuals may benefit from speaking with debt relief attorneys about their credit card bills and balances.

It is possible for some individuals to work with their credit card companies to make their payments more manageable so that they can get out from under the weight of their debts. For others, bankruptcy and other debt relief options may serve their financial needs.

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Bryan P. Keenan & Associates, P.C.

993 Greentree Road
Suite 101
Pittsburgh, PA 15220

Phone: 412-923-4941
Fax: 412-444-0158
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