5 smart debt relief techniques to explore this Black Friday

Black Friday has a reputation for fueling spending sprees thanks to doorbuster deals and limited-time discounts, which increase the pressure to buy at a lower price while you can. But at a time when the Black Friday promotions are ramping up, many households are also carrying more debt than they'd like to, especially in terms of their credit card debt. And, with credit card APRs hovering close to record highs and budgets already strained by inflation, the biggest savings opportunity this Black Friday may not come from shopping at all.

After all, the same mindset that drives people to hunt for the best deals on electronics and appliances can be redirected toward finding smart solutions for their debt. That is an incredibly important task to consider if you're struggling with high-rate debt or your balances are growing rapidly due to compounding interest. And because the holidays tend to bring expenses you can't avoid, from family travel to gift-giving, getting your debt under control now can help you head into 2026 on better financial footing.

There are several debt relief techniques borrowers may want to explore this Black Friday. But which strategies are actually smart to use right now? Below, we'll detail five worth considering now.

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5 smart debt relief techniques to explore this Black Friday

Before you move forward with purchasing decisions this holiday season, it may be worth thinking about how to reduce, rather than increase, your balances. Here are several strategic debt relief options to consider now:

Use a 0% APR balance transfer card to pause interest

Moving your high-rate credit card debt to a card offering a 0% introductory APR can provide you with almost immediate breathing room. Most balance transfer cards offer promotional periods lasting between 12 to 21 months, during which you can pay down your principal without accruing new interest charges. The key, though, is to have a realistic payoff plan before the promotional period ends, and to watch for balance transfer fees, which typically run between 3% and 5% of the amount transferred. 

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Reduce your interest charges with a debt consolidation loan 

Taking out a debt consolidation loan will allow you to combine multiple high-rate debts into a single loan with one monthly payment, and if you're able to qualify for a lower interest rate on that loan, you can vastly reduce the interest charges compared to what you're currently paying on your credit cards. Beyond the potential interest savings, debt consolidation loans also offer relief in terms of simplifying your finances and providing a clear timeline for becoming debt-free. The fixed monthly payments and fixed terms also mean you'll know exactly when your debt will be paid off, making it easier to budget and plan.

Negotiate directly with your creditors to make your debt more affordable

If you're already struggling with your debt, you may be able to work with your creditors to negotiate lower interest rates, waived fees, temporary forbearance or an adjusted payment plan. A simple phone call can sometimes yield surprising results, and the earlier you reach out, the more options you may have. You don't necessarily have to be facing a hardship to work with your card issuers on lower rates or fees, either. If you've been a reliable borrower, you may be able to call and ask for a lower rate based on your solid payment history, especially if you have other offers for lower-rate options. It's worth a shot, anyway, especially in today's high-rate environment.

Lower your balance by pursuing debt settlement

If you're facing serious financial hardship, settling your debt with the help of a debt relief company could make sense to consider this Black Friday. Under these programs, the debt relief experts you work with will negotiate with your creditors to try and settle your debts for less than you owe. This strategy can result in lowering your debts substantially, sometimes by 50% or more (though the outcome can vary). While this route comes with fees and has credit and potential tax implications, it can also create a path toward long-term financial recovery.

Tackle what's owed with the debt snowball or avalanche method

These DIY approaches require no outside assistance. You just need some discipline and a strategic plan to pull them off. With the snowball method, you focus on paying off your smallest debt first while making minimum payments on others. Once that small debt is paid off, you roll that payment into the next smallest debt. The avalanche method, on the other hand, prioritizes your highest-rate debt first, potentially saving you more money over time. Once the highest-rate debt is eliminated, you tackle the next-highest debt and continue until you're debt-free. Both methods provide psychological wins, though the avalanche approach is generally mathematically more efficient.

The bottom line

Black Friday may be synonymous with shopping, but it can also serve as a timely checkpoint for your financial health, especially if you're carrying high-rate debt. This period can offer meaningful opportunities to reduce your balances and set up a stronger start to 2026, whether that's through a balance transfer, consolidation loan, creditor negotiation, debt settlement or a DIY approach. The smartest strategy is the one aligned with your current financial reality and long-term goals, so be sure to explore your options carefully and remember that the goal is to make this Black Friday less about spending and more about reclaiming control of your debt.