Association of Independent Consumer Credit Counseling Agencies (AICCCA)

Press Release

AICCCA Warns Black Friday and Cyber Monday May Lead to a Consumer's Red Tuesday

Fairfax, VA - December 1, 2009 — Black Friday and Cyber Monday 2009 are now in the books. According to the National Retail Federation, Black Friday sales were down a bit from last year, although more shoppers ventured out this year. As for Cyber Monday, the number of online shoppers increased and with that increase, the use of credit cards. Spending less than last year does not necessarily mean that consumers were able to keep from adding to their debt loads heading into the end of the year.

"We always see a spike in calls after the first of the year," said Dave Jones, president, Association of Independent Consumer Credit Counseling Agencies (AICCCA). "This is due in large part to a consumer spending more than they can afford during the holidays."

AICCCA offers these tips to help consumers who are facing a Red Tuesday:

Stop shopping now. If the amount you planned to spend has been reached or exceeded, evaluate the purchases you made. You may have purchased more than one item for someone and can use the additional gift for someone else on your gift list.

Look for alternatives to traditional gifts. Homemade goodies are welcome treats for almost anyone and you may have most of what you need already in your pantry. Or consider a gift of service; for instance, pet or house sitting or a garage or yard clean-up.

Listen to your conscience. Your friends and family would not want you to go into debt just to be able to give them a gift-wrapped package.

If you need financial help, a qualified AICCCA member office can help get your financial life back on track. To get help now, call 866-703-8787 or visit www.aiccca.org to find an office that can serve you.

Founded in 1993, Association of Independent Consumer Credit Counseling Agencies (AICCCA) is a national membership organization, established to promote quality and consistent delivery of credit counseling services. AICCCA and its members are focused on improved creditor relations, efficient processes and advanced technology to best serve clients and creditors. AICCCA members are independent nonprofit agencies that advocate for debtors, counsel millions of consumers annually nationwide and provide debt management services to consumers with excessive unsecured debt. For more information or to contact an AICCCA member office call 866-703-TRUSTAICCCA (866-703-8787) or visit www.aiccca.org.