Debt Caused by Christmas: Many consumers don’t stop spending even though their budget and finances don’t allow.
Did you over spend for Christmas? Are you deeper in debt because of the holiday? If you did you are not alone. The issue comes in when you spent beyond your budget and then you go into collections. We hope that is not the case because if you did and your source is one of our clients we will unfortunately have to contact you as a third party collection agency.
You can count on this if we contact you:
We promise to be courteous and professional
We promise we will follow the state laws and regulations.
We promise we will not harass you
We promise we have ways to locate you.
Seriously you might want to plan a budget and stick to it. It is better to not give your family everything they want today to be able to afford it at a later date when things are better. Sacrifice now secures your future if you are spending worried the creditors will be calling.
There are many reasons people overspend at Christmas.
Through our experience working with our clients and those that have debt we have learned these 4 reasons people overspend.
1) When pulling out the credit card it doesn’t feel like you are overspending because you are not using cash. (if you have a tendency to overspend normally work with only a debit card or cash)
2) Because my family or my friends can afford to give their children everything, I can’t let mine suffer. (They won’t suffer but all of us can do with less. Work ways to make less – more) You don’t have to keep up with the Joneses.
3) Why should I have to wait and save for something? I will get it right now so I have instant gratification. (Anything worth having is worth working for)
4) For some whipping out that credit card is all about power. However, when the bill arrives later, your power has been greatly diminished and turns into fear. Is it worth it? It was a false sense of power. (Find other ways to feel in control like only spending what you have)
MCA is a third party debt collection agency that has been in constant business since 1950. We are rated A+ with the Better Business Bureau and we pride ourselves on excellent customer service along with delivering great recovery rates. There is no cost to you unless we collect! Why not try and re-coop some of your past due accounts with no out of pocket expense?