There are ways to get out from under holiday bills
The tree is back in the attic, the decorations are back in their boxes and the last leftovers were eaten long ago. But in one sense, the Christmas holidays aren’t over.
You might still have bills to pay, especially if you didn’t pay cash for gifts. And you might have more bills than money to pay them.
There are ways to deal with that.
Brenda Anderson of Sandhills State Bank in Wauneta said if you’re considerably in debt — more than just overextended on a credit card or two — there are ways the bank can help you.
“There’s a few [customers], you know, that possibly refinance their vehicles due to [bills],” Anderson said. “But not a lot. We don’t get a lot of those. In today’s world, I think most of them use credit cards to cover.”
Paying off new debts means taking a look at the customer’s overall financial situation, she said.
“You just have to look at the whole picture to define where you can help them. There’s some that we can help and there’s some that we can’t. We just do the best that we can with what they have to work with.”
Most of the bank’s loan business involves agricultural or home borrowing, debts that are bigger than just being overextended from the holiday, she said. If the borrower is a homeowner, a home equity line of credit is a possibility, as is refinancing a vehicle. “Depending on if they have collateral to support that and good credit, we’ll help them out,” Anderson said. “We’ll try. Their credit regulates what we can and can’t do.”
Usually, a customer would have to pay 20 percent of the debt himself.
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