Ways to Be Financially Responsible During the Holidays

Let’s face it – the holiday season is spending season. This time of year can be rough on a person’s finances, especially for those who are considering filing for bankruptcy or who are in the process of recovering from bankruptcy. Fortunately, our firm has compiled a list of several things that a person can do to limit their expenses during the holiday season.

1. Host a “Secret Santa” gift exchange: Instead of purchasing gifts for everyone in your life this holiday, holding a “Secret Santa” gift exchange can be a great alternative. Everyone will still receive a gift, and you will save yourself a lot of money in the process.

2. Give homemade gifts: A hand-crafted gift can bring just as much holiday cheer as a store-bought item. If you are artistic, try making things for your loved ones such as paintings, crafts, poems, sketches, or even preparing them a meal.

3. Establish a budget: If you are purchasing gifts, make sure you determine your budget ahead of time and strictly stay within its limits. If you need to spend more on a gift for one person, make sure you spend an equal amount less on another. This takes tremendous discipline, but your finances will thank you for it once January rolls around.

4. Make a list, check it twice: Exchanging gifts with fewer people is one of the easiest ways to reduce your holiday expenses. Once you have established a small list of who you wish to exchange gifts with, adhere to this list and refrain from adding any more people. Limit your purchases to one gift per person.

5. Find the best price: Before you make a purchase, make sure you have shopped around and looked for the lowest price possible. Most retailers have “price match” policies where they will lower their price to a competitor’s offering in order to keep your business. Additionally, opting for lower-cost substitutes to name-brand goods can help cut costs.

6. Pay cash: Whenever possible, pay cash or use your debit card for holiday expenses. Charging items on credit cards can rack up your holiday debt extremely quickly. Store credit cards are notorious for their high interest rates and can make your holiday purchases end up costing way more than their initial purchase price. Paying with cash can eliminate this risk.

Contact The Pritchard Law Firm

Are you struggling to make ends meet this holiday season? At The Pritchard Law Firm, our award-winning Fort Worth bankruptcy lawyers can use their vast legal expertise to help you find a solution to your debt and guide through the process of filing for bankruptcy. With 45+ years of legal knowledge and several positive client testimonials, our firm has the skills and dedication you need to help you pursue a desirable outcome for your situation.

Contact our office online or call us today at (817) 285-8017.

How Can I Afford a Bankruptcy Lawyer?

One of the biggest mistakes that people make when filing for bankruptcy is to choose to represent themselves. Many people erroneously think, “I can barely afford to pay my bills, therefore how could I ever afford an attorney?” The truth is, failing to hire an attorney during bankruptcy can expose you to a myriad of negative consequences – some of which could prohibit you from re-filing. While it may seem like an impossibility at the time, there are actually many different ways that you can afford a bankruptcy attorney. A skilled lawyer will work with you to determine a payment plan that best fits your needs.

Your Creditors are Actually Paying Your Attorney’s Fees

When thinking about attorneys’ fees when filing for bankruptcy, you must alter your thinking. In a certain sense, your creditors will be the ones footing the bill for your bankruptcy filing. Most attorneys will instruct you to stop making payments on the majority of your outstanding debts prior to filing for bankruptcy. In essence, the money you would have otherwise paid to just paying off your creditor’s interest will now instead be paid to an attorney. This money would be far better spent to retain the services of an attorney who can work to eliminate your debt for good, rather than just paying off interest and barely making a dent on your principal.

Additionally, the fees required to file for bankruptcy are different depending on the specifics of the case and the area in which they are filed. In many cases, attorneys offer payment plans to help make it easier to cover these costs over time. In most Chapter 13 bankruptcy cases, attorneys’ fees can actually be incorporated into your repayment plan.

Struggling with Debt? Call (817) 285-8017

If you are struggling to make ends meet and are in need of financial relief, the award-winning Fort Worth bankruptcy lawyers at The Pritchard Law Firm can walk you step-by-step towards a financially secure future and work out a payment plan that is custom-tailored to your pace. Unlike other firms, we charge a flat fee for our services, ensuring there are no surprise costs.

Schedule a free consultation or contact our office online today to get started.