AICCCA Offers Help For the Post-Holiday Debt Blues


FAIRFAX, VA - December 27, 2007 — The season of giving will bring a new year of debt for many who did not plan their holiday expenses or simply spent too much. Most of these consumers will resolve to do better next year. And even though New Year's resolutions seem to be made only to be broken, consumers with patience and persistence can take control of their financial situation.

"Overspending is prevalent during the holiday season, with many consumers not always accounting for their increased spending," said David Jones, president, the Association of Independent Consumer Credit Counseling Agencies (AICCCA). "Recognizing that you have been overspending is an important step in ridding yourself of unwanted debt."

For those carrying holiday debt into 2008, AICCCA offers a three-step solution:

Buy only the basics. Create a bare bones spending plan to use until your debt is paid. Luxuries and treats will need to wait, but you will start to make powerful decisions about how your money is spent. If you stick to the plan and add the savings from watching your expenses to your debt, your holiday debt will be paid down quickly.

Find the right help. Taking control of finances does not have to be a solo undertaking. If your need help, take advantage of the services of a qualified credit counseling service. You can locate a member of AICCCA by calling 866-TRUSTAICCCA (866-703-8787) or visiting www.aiccca.org. Holiday debt is not a unique problem and skilled professionals are ready to help.

Prepare for a debt-free future. Once your debt is tackled, don't stop there. In addition to those monthly fixed costs such as rent or house and car payments, learn where your disposable income is being spent by tracking your expenses for a month. Few consumers know how much they really spend eating out and on clothing and entertainment. The only way to prevent another debt load is to know where your money goes and live within, or even better below, your means.

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.