Paying off Christmas Debt

The holiday season is over and for most of us that means it is time to cut back on spending and to rebound from the massive wave of gift giving. The giving season is immensely rewarding, we get the chance to give gifts to our family members and those we love the most. Unfortunately, all of those gifts can really stack up and create some serious debt to pay off in the wake of all of the seasonal fun. If you are in the Tennessee area, Tennessee Title Loan can help you pay off your holiday debt and get your credit score back on track! Contact us today to see how we can help you get your finances back on track for 2019.

Benefits of Paying off Debt

We’ve all heard that having some debt is a healthy thing and is actually beneficial for your credit score. It is true, having healthy debt like moderate credit card usage and monthly mortgage payments can greatly improve your credit score. Having balances on your credit cards can also be beneficial as your credit score is calculated based on the number of open lines of credit that you currently have. In fact, 30% of your credit score is based off of the amount of debt that you are carrying, so paying off debt in a controlled manner is immensely important.

Credit utilization, the ratio of your credit card balance to your credit limit is one of the most important things to keep an eye on. As long as your credit utilization is well under control, your credit score will go up steadily. After the holiday season, the sudden increase of debt on your credit cards could very well have tipped the scales for your debt to start affecting your credit score negatively. Luckily, you don’t have to figure out the best path on your own. Come into Tennessee Title Loan Today to meet with one of our expert staff to figure out the best path ahead for you.

How we can Help You

At Tennessee Title Loan, we specialize in helping you get money fast in order to help you get back on track with your financial plan. After the holiday season, it is a good idea to invest some extra cash into paying your debts down to a manageable level and to keep all of your current lines of credit open. Closing your credit card will actually have a negative effect on your credit score as you are suddenly losing a line of credit. At Tennessee Title Loan, we provide short-term loan options that can be paid off quickly that get you the cash you need when you need it.

If you are feeling the financial tension that comes after the holiday season, don’t let your debt get the best of you. Come into Tennessee Title Loan today to get help from our expert staff and the money that you need today!


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