If you are struggling financially and dreading the holiday season, you are not alone. This can be the toughest time of year for anyone who has fallen behind in bill payments and is facing financial challenges. Luckily, there are things you can do to make the holiday season easier, and to set yourself up for a much brighter financial 2017.
Where should you begin?
Embrace the Spirit of Resolutions
The holidays are a popular time to set New Year’s resolutions and if you are facing financial worries, it’s a great time to make those resolutions about money. Sometimes the idea of a fresh start financially is enough to brighten your holiday season. Take some time before things get too busy to sit down and examine your finances.
It’s a good idea to do this assessment before you begin holiday shopping because it can help you put things into perspective and avoid overspending in the upcoming weeks. Knowing you can start the New Year in better shape than you’re ending this one can really affect your behavior during the holiday season.
Limit Holiday Spending
Once you have an idea of where you stand, you can set a budget for the holidays. Granted, the last thing most people want to hear is they need to cut back on holiday spending, but it really is one of the best things you can do to make things easier if you are struggling financially.
Whether you are trying to avoid serious financial problems or you are headed toward a major financial step, setting and sticking to a holiday spending budget is essential. And if you are thinking the best option for you at this point is filing for bankruptcy, limiting holiday spending is essential. The bankruptcy court takes spending very seriously and if you indulge in too much spending during the holiday season, it can result in your bankruptcy request being denied.
Consider Filing before the End of the Year
If you believe bankruptcy is imminent, perhaps you should consider filing now instead of waiting. There are several advantages to filing for bankruptcy during the holiday season, but one of the most important is the automatic stay created by filing. The automatic stay puts an end to debt collection efforts, which means you won’t need to worry about embarrassing calls from debt collectors interrupting your holidays, nor will you be forced to deal with foreclosure on your home.
Filing for bankruptcy won’t immediately solve every financial problem you face, but it can relieve some of the stress you’re facing this holiday season.
For more information or to speak to someone about filing for bankruptcy, contact R. Flay Cabiness, II, P.C. at (912) 554-3774 (Brunswick, GA); (912) 375-5620 (Hazlehurst, GA) or; (912)-554-3756 (Jesup, GA) to schedule a consultation.
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