Now that Black Friday is a foggy memory and Cyber Monday is soon over, it’s a good time to talk about bankruptcy and its relationship to the holidays.  Every year, I file more bankruptcy petitions in federal court in Tampa during the month of January than any other time of the year.  Once the holidays are over and the hustle and bustle of Thanksgiving, Christmas, and New Year’s have passed, most people are faced with their credit card bills in January.

For many, the arrival of credit card bills and the realization that their holiday cheer left them in a pile of debt, they start thinking about bankruptcy.  I am not here to pass judgement on anyone’s spending habits or holiday gift giving.  However, now is a good time to remind everyone that January is around the corner and if we aren’t going to spend the first month of the new year in regret, let’s be smart about what we can and can’t afford during the holidays.  Excess is so related to holiday celebrations that we often subconsciously believe that we don’t enjoy the holidays (or anything else) unless we go overboard.  If holiday spending is the bankruptcy tipping point, you were probably already in financial trouble.  It may not be enjoyable, but sit down and take a realistic look at your finances and determine if you should consult with a lawyer now about bankruptcy as an option.  I’ve posted before about the problems with credit counseling and credit repair offers.  While you don’t have to necessarily make a decision now, get the facts and your options before you go on a spending spree (if you haven’t already).  Procrastination won’t make it any easier and will only add to the stress and strain of another holiday season.  Give me a call and we can discuss your financial options.  The consultation is free and it may give you the peace of mind to enjoy the holidays with a little less stress.