The ghastly cost of Halloween costumes, decorations and “treats” can be a spooky reality for consumers suffering with high credit card debt. The National Retail Federation (NRF) says it expects total spending on Halloween in the U.S. to reach $6.9 billion in 2011, up 18% from last year. With consumers already struggling with high credit card debt in the United States, this trend could be a scary signal for Americans tempted to add to those totals this Halloween season. “70 percent of those asked in the NRF survey said they plan to celebrate Halloween in some way, and the average person will spend $72.31 on decorations, costumes, and candy,” said Etta Money, president of InCharge Debt Solutions (InCharge), a nonprofit credit counseling organization. “If that Halloween spending is planned as a credit card expense, people need to seriously consider the many less costly ways to enjoy the event.”
Food for thought – In 2008, over three million people contacted credit counselors. About a third of those people were able to manage their own finances after the counseling. The rest of them were unsuccessful and fell into several different categories – too deep into debt for credit counseling to help, had problems that credit counseling could not fix or enrolled in more intensive debt management programs. Of those in the latter category, around half of all enrolled stopped attending their program. Contact a Kansas City bankruptcy lawyer at The Sader Law Firm if you are considering credit counseling to ensure that you protect your property and regain your financial footing as effectively as possible.
From Philip Moeller at U.S. News and World Report – The stubborn continuation of tough economic times has made it likely that you’ll be exposed to bottom-feeding merchants aiming take advantage of you with offers of “help.” They live in late-night TV ads, Internet promotions, and elsewhere. All too often, their gain comes at your expense, and they are particularly aggressive in exploiting seniors. Be vigilant and careful about responding to offers. Do not give out personal information to vendors you do not know or trust. Make sure your computer is protected so that you don’t inadvertently provide personal information you’ll later regret. Don’t be silent if you’ve been targeted by a scam merchant. Get in touch with your local or state consumer protection agency. Find out if your local Better Business Bureau knows anything about the company or the offer that’s been pitched to you. Share your concerns with…
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*Credit card payments will not be accepted for bankruptcy cases, unless pre-approved by The Sader Law Firm. If you have a question about a credit card payment, please call our Office Manager at (816) 561 1818.
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