AUBURN - Typically, the holiday season can generate a lot of interest. Anywhere between 15 to 20 percent, or more, depending on your credit rating and the credit card you used to purchase those high-priced gifts.

Long after the last bow is undone and the last paper unwrapped, just what you always wanted may be the last thing you ever expected - a long-lasting holiday debt.

With Valentine's Day fast approaching, there are ways to show your love for someone without falling deeper into debt.

“Oh god - they have these ‘sweetheart' rates. They fish you in for zero percent for the first couple of months,” said Bill Balyszak, of BFS Financial Services in Auburn. “Then they do a search of your other credits: your utilities, your store accounts, and may slide your interest rates frighteningly high.”

Without belaboring the obvious, Balyszak offered a simple plea.

“Try not to charge it,” he said. “If you can't afford it, don't buy it. You don't have to buy someone a plasma TV or four dozen roses. You can please people with something they like without spending a lot of money. Be realistic so you don't end up in debt with no way out.”

For those who are already in deep with holiday debt, however, there are ways to prevent further credit failure. First, don't go see Balyszak.

“I get some calls saying, “I'm in trouble,” but I usually don't see them; I refer them to someone else. I'm going to charge them by the hour and it's only going to add to their debt,” he said.

There are non-profit agencies, he explained, that charge very little, contingent on individual income. One such, which he hasn't dealt with directly but, “seem to be very good,” such as American Consumer Credit Counseling.

“What I caution people is to be careful of the ones that advertise on TV - you have to read the fine print. If they have a debt of $1,000 to $2,000, they're going to charge them another $300 to $400 and that only adds to their problem,” he said.

Given available time and opportunity, an exit strategy can even be devised independently.

“Assuming this is a temporary debt over Christmas: 'Oops, I over did it,'” Balyszak said, there are certain steps to take on your own.

First, economize and prioritize, eliminating all unnecessary expenditures. Then, maximize your income by supplementing your job with another or, working overtime.

“They need to get tough with themselves,” Balyszak said.

Be a rate-chaser: transfer the balance from higher interest cards to the lowest. One of the come-ons of some companies is free transfer of balances; you could cut your interest rate in half.

Pay off the card with the highest rates first, and pay more than the minimum.

But don't go overboard, so you're left out in the cold with your utilities and taxes and mortgage.

Or, try to obtain a consultative bank loan, on average with a high single, low double digit interest rate.

Another possibility is to take out a second mortgage on your home, according to Balyszak, or a home equity loan. (Watch out for the percent deductible on tax income.)

“Be careful. A lot of people use the money to buy groceries or cigarettes, or even pay the utility bill. You have to remember you have your house on the line.”

If all else fails, bargain. The last thing any creditor wants, according to Balyszak, is for someone to declare bankruptcy. Explaining how much you owe to others versus your capability of resolving the debt can result in a negotiable reduction in interest.

Regardless, credit card use, when done prudently is a convenient, popular way to shop.

“I would say 90 percent of our customers charge. The last few years the majority use credit cards,” said Sarah Panzarella, of Imagine Art for Adornment in Skaneateles.

Some, however, prefer to do it the old-fashion way.

“Well, it's all taken care of,” said Andy Tehan, of Auburn, regarding his holiday debt. “We try to save up during the year so that we don't have to use credit cards. We've been down the holiday debt road before.”