Dealing with holiday debt - WALB.com, Albany News, Weather, Sports

Dealing with holiday debt

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We Are Alliance offers credit counseling services to people We Are Alliance offers credit counseling services to people
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ALBANY, GA (WALB) -

January Blues as some call it means it's time to face the music of debt.

"A lot of people are now dealing with the consequences of the last month or two months," says owner of We Are Alliance Cassandra Richardson.

You might have forgotten about all those sales you snagged during the holidays but unfortunately credit card companies didn't. Now, the time has come to pay off those bills. But experts say having a plan could prevent you from drowning in debt.

"Wherever you are today January 2013, when January 2014 comes in we don't want to be in the same position," says Miller.

Companies like Credit Consumer Counseling Services and We are Alliance help thousands of people tackle their credit everyday. They encourage people to first acknowledge your debt and know how much you owe so you'll be better able to grasp the problem at hand.

"When you look at your credit you can get a hard copy print out showing everything on your credit for free," says Miller.

Residents of Georgia can get two free credit reports a year and web sites like Annualreport.com and Freeannualreport.com can help you do that.

"When you go to these web sites they are going to try and sell you something so make sure to just say free credit report, don't pick anything else and you can get your full credit report," says Miller.

Once you know how much you owe, experts say tackle those credit cards with the highest interest rates first. And for any balances that aren't yours or you know you paid off, make sure to dispute them right away.

Experts say the earlier you start to lower your credit, the faster credit cards companies will leave you alone.

Miller says the best way to avoid debt is to limit the number of credit cards you have all together and to make sure you're paying the minimum payment each month.

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