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Holiday Spending and Bankruptcy

The holidays are typically viewed as a time of giving, prompting Americans all over the country to spend large sums of money on friends and loved ones. Unfortunately for some people, this holiday spending, in conjunction with other debts, puts them in a serious financial situation – one that they feel they cannot escape.

While dealing with a large amount of debt, which can accumulate from a variety of factors, from holiday spending and daily purchases to medical debt, can seem impossible at times, many people are able to successfully address this debt through bankruptcy. At the Russell Van Beustring P.C., we know that many people in Houston are uncertain about bankruptcy as an option in this situation; however, it is often an extremely positive avenue for people to take, allowing them to re-establish a positive financial standing over time.

Common Holiday Purchases that Can Lead to Debt

In many cases, spending too much during the holidays comes from a place of love and generosity in the gift giver: you simply want to give someone else something they’ll love. However, certain holiday purchases can be extremely destructive to a person’s finances, including purchases of:

  • Vehicles
  • Animals
  • Jewelry
  • Trips / vacations

Typically it is large purchases like these that cause a person to accumulate debts that they are unable to pay back.

Discuss Debt and Your Options with a Bankruptcy Attorney in Houston

If your spending has caused you to accrue debts that you find yourself unable to pay back, the attorneys from the Russell Van Beustring P.C., can help you evaluate your legal options, including bankruptcy. Contact our offices in Houston today at 713-973-6650 to talk about what steps you can take to begin addressing your debt.

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