Most probably, people are going to be swiping their credit cards for those after-holiday sales. Remember we are just starting a new year and we must be prudent with money! A lot of people take advantage of the promo offers of 0% interest for an X number of months and what’s more, most credit card companies actually will start billing your after-Christmas purchases January of the following year already. Talk about leeway. It just doesn’t sit well with me – starting your year in debt. Even if you reason it’s not technically “debt”, you still have advanced payables to pay when the cash isn’t even right there yet. That’s not really good, even if you are good in managing money – emergencies.

I am not saying I haven’t been in debt. In fact, I have been there. I’ve done that. And I’ve learned my lesson well. It is really better to pay in cash and if it’s going to be such a big ticket item, even if it’s on 0% interest, it will be advisable if you already have half of the money in cash already. Or else, there will be a hard time paying up. Six months to pay is so long for me already.

And when you have a delinquent account, that is where Collection Agencies come in. They are the ones hired by credit card companies to follow up on late payments and delinquent accounts, and they really have high commissions!

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