Debra Booher &Associates Co., Lpa Click here to get your free Legal evaluation
Call Us Today Toll Free
888-542-1300

Holiday debt may continue to plague Ohio residents

The holiday season is notorious for spending money on gifts, holiday meals and other expenses. However, even after the season ends, Ohio residents can still be feeling the impact of that spending. Accumulating considerable debt during the holidays is not unusual, but some individuals may have a difficult time paying off the balances that have been accrued. 

It was recently reported that 37 percent of consumers amassed credit card debt during the holidays, and a considerable number of those individuals do not believe that they will completely pay off their debt. There are some small moves that consumers could make to help with their financial issues, such as requesting a lower interest rate from a credit card company. Many companies will lower rates in order to keep a person's business. 

Of course, there are many individuals whose debt cannot be so easily addressed. Parties who have added considerable holiday debt to already existing debt could face high credit balances that may feel insurmountable. However, these individuals also have options, such as bankruptcy, that could help them work toward discharging qualifying debt.

If Ohio residents are facing such debt issues and would like to better understand their options, they may wish to gather more information about Chapter 7 and Chapter 13 bankruptcy. These routes utilize asset liquidation and repayment plans, respectively, and can aid individuals looking for a fresh financial start. Interested parties may also wish to discuss their individual cases with an experienced bankruptcy attorney who could help them determine which steps may best suit their particular circumstances.

Source: wwlp.com, "Digging yourself out of credit card debt", Kelly Byrne, Jan. 6, 2016

No Comments

Leave a comment
Comment Information
Email Us For A Response

How Can We Help?

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Cuyahoga Falls Office
1350 Portage Trail
Cuyahoga Falls, OH 44223

Cuyahoga Falls Law Office Map

Beachwood Office
3401 Enterprise Pkwy.
Suite 340
Beachwood, Ohio 44122

Map & Directions

Independence Office
4700 Rockside Rd
Suite 415
Independence, Ohio 44131

Map & Directions

Westlake Office
1991 Crocker Rd
Suite 600
Westlake, Ohio 44145

Map & Directions

Canton Office
4450 Belden Village Street NW
Suite 204
Canton, Ohio 44718

Map & Directions

Ravenna Office
2633 St. Rt. 59
(Orchard Plaza)
1st floor
Ravenna, Ohio 44266

Map & Directions