Borman Law Group

3️⃣Pay off those bills
While considering your holiday budget, you should also think about how and when you will be able to pay off any purchases made on credit.

Of course you should always pay off your credit card bills as early as possible, preferably at the end of the next billing cycle so you aren’t charged any interest. If you can’t manage that, however, you should figure out how long it will be before the interest rate on your carried balance ends up canceling out or greatly diminishing any rewards you have gotten.

Hopefully, the preceding financial tips for how to budget your money during the holiday season will not only help you this year but also get you ready to think about next year’s spending, too. Putting aside a little cash each month starting in January is another way to make sure you’re budgeting your shopping money wisely throughout the year leading up to the next holiday season.

1️⃣Pay in Cash, Check or Debit—Not Credit
When it’s time to pay for your purchases, cash, check or debit is best as you will be sure you’re only spending money you actually have. Moreover, you won’t have to face hefty bills to begin the new year.

If you must use a credit card, though, try to use one that has reward points so you can get something more out of the exchange and help stay within your holiday shopping budget.

👉There’s just nothing quite like Thanksgiving weekend: a morning prepping turkey and learning Grandma’s famous casserole recipe, parades and football on the TV, political comments from Uncle Rick, long afternoon naps and . . . mad dashes to the mall.

Between eating and shopping, it’s hard to keep track of where your money is going. (Those little runs to the store to get another forgotten ingredient add up quick!) You usually end up spending a ton of money in a short amount of time—only to wake up from your turkey-induced coma with loads of regret.

But it doesn’t have to be like that this year! We’ve got eight ways to help you save money this Thanksgiving, so you can spend less time stressing over your finances and more time enjoying your family.

In a nutshell, Chapter 7 speaks of liquidation. The court will look into the assets of the debtor and identify those which will be sold to satisfy the obligation. On the other hand, Chapter 13 involves a reorganization plan to pay off the creditors.

As far as his secured debts (debts that are secured by collateral) are concerned, the debtor in a Chapter 7 Bankruptcy case has three options:

(1) Redeem, or pay the creditors the value of the collateral assets;
(2) Reaffirm, or enter into a separate agreement, promising to fulfill the loan payments; and
(3) Surrender, or allow the creditor to take the collateral assets.

Learn more on our blogpost: http://ow.ly/fSsi50Ge9Ul

⏰ 🅲🅰🅻🅻 🅽🅾🆆!!!⁠
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