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Tips on getting out of debt after the holidays

by | Jan 13, 2025 | Bankruptcy, Chapter 13, Chapter 7

A recent Star Tribune article  indicates that Americans put on an average of $1200 of new debt during the holiday season, and offered suggestions on getting out of debt, including the so-called “snowball” or “avalanche” approach. I recently had a client whose parents gave her an advance on her inheritance to get out of debt. I hope she doesn’t go back into debt. (and I suppose a winning Mega Millions ticket could be another planning technique!)

It’s not mentioned in the article, but sometimes a bankruptcy is the best way to get out of debt, relieve financial pressure, rebuild one’s credit, and start saving for a sunnier, snow-free future. That’s where we help.

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