Get Out of Debt this New Year, Advise Orlando Bankruptcy Experts, Clark & Washington
NORCROSS, GA, February 07, 2013 /24-7PressRelease/ -- If you want to improve your financial health in the New Year, there are some changes you can make to help kick-start your goal. If you are resolved to get out of debt, Orlando bankruptcy experts, Clark & Washington, offer a few ideas to help keep you focused.
Don't Deprive Yourself
With a bit of luck, by reducing your spending, you will not feel as though you are depriving yourself. Penny pinching several dollars each month can make a big difference. For example, if you owe $10,000 on your credit card and send in the minimum payment each month, it could literally take nearly 50 years to pay off the debt! Never mind that the $10,000 will be more than $33,000 by the time you pay it off. The trick is to stash away a meager amount each day. Even if it's fifty cents to cover the interest every month, if you pay that on top of the minimum amount, you will save more than $5,000 and two decades of payments.
Substitute Bad Habits
Many of you may have seen the hit TV show called "My Shopping Addiction." It may be a bit extreme, but it shows how habitual, excessive shopping can destroy people's lives. Most compulsive shoppers who go into debt are trying to deal with complex emotions, such as stress, frustrations and anger.
The pulse of shopping helps only temporarily to enhance your mood. Nonetheless, this habit can be switched with something healthier, such as exercising, jogging or bike riding. The reason why exercise works so well is because it produces the same "feel good" endorphins that shopping does. However, exercise won't run you into debt.
Leave Home without Them
Research shows that people spend more when they shop with credit cards. If this is how you are, you should send your credit card on a long holiday. Why not place them where it's difficult to get to them? Some debt experts even suggest freezing them or cutting them up. Regardless of what you do, just imagine how much impulse buying you will avoid, money you will save and stress that will be off of your shoulders.
Admit it When You Need Professional Help
Unfortunately, you may relapse on your New Year's resolution to get out of debt. If all else fails, you can always hire the Orlando bankruptcy attorneys at Clark & Washington, who will provide their expertise and services to help you get your financial affairs in order.
Deciding whether to pursue debt management, settlement or bankruptcy can be the hardest part of getting out of debt. An Orlando bankruptcy attorney from Clark & Washington can supply you with a clear understanding of each option and will assist you with weighing the pros and cons.
The FTC, Federal Trade Commission, states that debt settlement businesses frequently fall short of establishing strategies for collecting debts. Therefore, it is typically in your best interest to work with the Orlando bankruptcy lawyers at Clark & Washington to be sure everything is taken care of professionally.
About Clark & Washington:
Established in 1983, Clark & Washington is now one of the leading bankruptcy filers in the Southeast. They have locations in Georgia, Florida and Tennessee. Clark & Washington specializes in personal chapter seven and 13 bankruptcy. They offer honest, helpful legal advice to those experiencing financial hardships.