Holiday spending may have you in disbelief over your January credit card statements. During the last weeks of the year, you probably had to buy presents, travel to see loved ones, and host or attend parties. It’s easy to simply swipe a card and forget about the long-term implications of this choice. However, a month or so later, you will most likely be facing a bill for the things you bought during this time.

Like many others in Louisiana, you may be unsure of how you will be able to deal with your larger-than-normal amounts of credit card debt. This may be a particularly serious concern if you carried over a high balance with you going into this season. Thankfully, there are ways you can deal with your debt and find a way to a better financial future.

Pay it off

 Some people are able to deal with high credit card balances by working hard to pay them off. However, when balances are high, it can be difficult to make a dent thanks to accumulating interest and other financial obligations you have to address. If you want to pay off this type of debt, it will most likely require large payments. You will also probably have to make lifestyle choices and reduce spending in other areas to address your debt problem in this manner.

Consolidate it

 There are certain types of personal loans that can allow you to consolidate multiple credit card balances into one payment. They may also give you a lower interest rate, allowing you to pay off your balances faster. If you are considering this option, you may find it beneficial to carefully review all terms of the loan agreement before signing.

Discharge it

Many people are reluctant to consider bankruptcy as viable option, but it could be the right way for you to deal with your credit card debt and other types of balances you owe. This process discharges unsecured balances, which includes credit card debt, medical debt and more. You can emerge from this process with a better financial future in sight.

Learn about your options

Every situation is different. There is no one-size-fits-all way to deal with credit card debt. If you are unsure of how you can deal with your financial concerns on your own, you may find it helpful to discuss your situation with an experienced Louisiana bankruptcy attorney and learn more about the various options available to you.