Debt advisor for Black Friday
“The good feeling can quickly turn into a nightmare”
Before Christmas, it seems as if department stores are literally wasting their goods on days like Black Friday. An expert urges you to be very careful with such offers.
To person
Marco Rauter heads AWO debt and insolvency advice in Southeast Berlin. He is also chairman of the board of the state working group for debtor and insolvency advice Berlin e. v.
Christmas is in a month. The coming weeks are supposed to be contemplative, but they are often stressful and characterized by consumerism. How do you perceive this time as a debt advisor?
This time is also very stressful for me. Many debtors are receiving more letters from their creditors at the end of the year. This has legal reasons such as statute of limitations and so on. But of course the creditors also know that some of their debtors have more money at their disposal during this time. For example, through special payments from employers. Enforcement measures such as account seizures are also increasing. Then debt advice comes into play again because in these cases the relevant papers have to be issued for the bank holding the account.
Before Christmas it seems as if department stores, electronics stores and shops of all kinds are literally squandering their goods. The percentages are falling everywhere, and there are always deals like Black Friday. As a debt advisor, how do you rate such Christmas offers?
Of course critical. I can only advise you to be as careful as possible. Just because something is cheaper doesn’t mean I necessarily need it! Items that are actually needed are welcome, but please do so in a manageable amount and, if possible, with a one-off payment.
The rude awakening comes in spring
Your own budget is often not enough to give gifts to all your loved ones. One way to still give everyone a present is, for example, to use the “Buy now, pay later” payment method. In your opinion, is this a good solution?
The big danger at this time is the “Buy now, pay later” offers. The reasons, as always, are that it’s easy to lose track. Especially because the installment payments start a few months later. The temptation to fulfill all your wishes without protection is huge.
How should consumers best behave?
Our advice is to stay vigilant, stay calm and remember that the beautiful Advent season, the possibly good feeling that “everyone” has gifts this time, can quickly end in a nightmare. The rude awakening comes in the spring, with account seizures and negative entries in the debtor registers and these usually remain there as long as the claim exists.
Many people feel pressure to buy gifts during the holidays, even if they can’t afford it financially. What advice would you give people to manage their money responsibly during this time?
It’s not about the material gifts, they make your loved ones more happy when they show that they are responsible with their money in these difficult times.
Source: Stern
