Everywhere you look, someone is encouraging you to spend money. Ads on social media and television, as well as the subliminal storylines in movies. There are a lot of advertisements that tells consumers that buying lots of gifts is the right way to celebrate. It's such an integral part of the holiday season that many people go into debt.  

A recent survey from WalletHub found that nearly 50% of Americans are still paying off debt from last year's holidays. That is double the percentage who were paying old holiday debt at this time in 2023. Credit card balances tend to rise significantly in the fourth quarter and then go down again in the first of the new year as people pay off their bills. The average interest rate on credit cards is now over 20%, which can be hard to keep up with if you don't pay off the balance right away.*

The General Bar is proud to partner with SoloSettle. It is a groundbreaking settlement platform that's transforming debt recovery and helping both consumers and collectors reach successful outcomes. Collectors can now get paid via direct deposit with no transaction fees instead of waiting for a check in the mail. For more information, please email yale@solosuit.com.