The holidays have come and gone for most, and with that passing comes financial worries. For every present bought and for every holiday dinner cooked in 2011, there was usually a credit card being swiped to give the holiday season that magical cheer. So what were the repercussions? Well for the third straight month, ending in November 2011, credit card debt increased.

Revolving debt saw a rise of 8.5% in November with the debt totaling $798.3 billion, a $5 billion jump over October of 2011. Those figures were provided by the Federal Reserve's G.19 consumer credit report, which also noted that non-revolving debt increased 10.7% to $1.68 trillion during the same time frame.

Non-revolving debt includes many different types of loans for things such as automobiles, education and living situations. Revolving debt is mostly credit card debt, a prevalent notion during the holidays according to an experienced economist. "It's a month where you kick off the sales for the holiday season," he said.

Another report from the Commerce Department estimates that retail sales increased 0.2% from October to November. That lends to the theory that consumers were still careful even while increasing their credit card spending, according to the economist. "It basically shows that even during the holiday period, consumers were cautious. They did spend, but they spent with an eye toward the bottom line," he said.

While the numbers seem to be generally positive, some people this holiday season might be finding themselves in trouble financially. If mounting credit card debt is pushing you towards filing for bankruptcy, consult a legal professional. With an experienced lawyer in the area of personal bankruptcy by your side, you can rebuild your financial life and regain peace of mind.

Source: CreditCards.com, "Consumer credit card balances jump in November," Kelly Dilworth, Jan. 9, 2012