Credit Repair After The Holidays

Credit Repair After Christmas

The holidays are a wonderful time of the year filled with family time and joyful experiences.  They can also be a time when extended travel, purchasing gifts and other expenses can take a toll on debt loads and credit scores.

Additionally, the holidays are also a notoriously popular time for credit card fraud, identity theft and other white collar crimes.  In this article we will cover some tips for how to stay within your limits this holiday season and also how to recover if you are a victim of a crime that impacts your credit score.

Holiday Budgeting

It can be easy to get carried away during the holiday season, maxing out credit cards and wearing savings thin to pay for extra travel expenses and to get the perfect gifts for your loved ones.  The following are some tips for keeping your financial standing upright leading into the New Year.

  • Make a Budget – Set up a holiday financial plan that includes planned and unexpected expenses
  • Be Frugal with Travel – Traveling during the holidays can be the most expensive time of the year.  Look for the best all inclusive deals or stay with relatives to keep costs down.
  • Don’t Max Out Cards – Instead of maxing out one credit card use other options such as store lines of credit to level out the debt to income ratio

 

What to Do if Your Information Gets Stolen

If you have your identity stolen or your credit card number used fraudulently during the holiday season, it can have a major impact on your credit score.  The first thing to do is close your credit cards and notify the bank of the situation.  The next thing you need to do is follow the steps for identity theft recovery.  Refer to our series of articles on Identity Theft for more help.

After you have done this be sure to consult with credit repair specialist about restoring your score.  Reach out to an expert on our credit repair hotline when you are ready.  Call us @ 888-586-7099

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