May 23, 2011
Debt Consolidation
When I was younger and in grade school, I was a bit of a rebellious tyke, not because of a behavioral issue that required medication or because of any childhood traumas, simply because it could get a bit boring and I felt it my duty to shake things up.
Earning a despising look and several reprimands, it occurred to me one day that there’s only so much threatening that a teacher can do before the threat no longer holds meaning.
The same logic is being applied to debt by Americans all over the country. When it comes to immense debt, such as what is owed to China, it is of course, a bit different; China has a lot of weaponry. When it is a matter of credit card debt, defaulting on a mortgage or auto loan, then there are only so many threats one can take before it occurs to them that there isn’t much they can do about the debt if they can’t pay it.
Credit Scores
Being threatened with lower credit scores doesn’t mean much anymore. So many have lived with debt and low credit scores for most of their existence that they have learned to live without credit altogether. Is there a moral obligation to pay debt though?
Many don’t believe there is and see debt as a financial obligation. While the threat of losing your home or car is significant, if you can’t pay for it then there’s not much that can be done. Letting go of payments is becoming increasingly common and for many there’s simply no other choice; if there’s no income and nothing left to sell, then generally the only thing left to do is throw your hands up and walk away from it.
Dropping off the Radar
Dropping off the radar to keep creditors off of your back is so much harder to do nowadays. In the past, it simply meant not forwarding your mail, paying only in cash and not putting your name on any utility bills. That’s changed because of the internet, now anyone that wants to stay away from creditors has to basically never interact with the internet in any way that involves putting your name, rank or serial number into the system.
Anyone that is in debt knows that harassing bills from creditors doesn’t actually help in getting the debt paid off, everyone but the credit collectors seem to know that. Being stressed out by constant harassing phone calls is a bit self defeating, what creditors need to do is call with encouraging messages that everything will get better and that they have faith in you right?
Bankruptcy
Most citizens aren’t trying to skirt their financial obligations, they were either hit by a massive event like losing a job, bad health, losing all their savings to a crooked roofing company, things like that happen and there’s not all that much that can be done when we face all of our money being wiped out. Bankruptcy is still an option that many consider, there are a lot of naysayers about bankruptcy, but that doesn’t mean it isn’t a viable solution.
There are two individuals that are very good sources of financial advice – Clark Howard and Dave Ramsey. If the threats of creditors don’t mean much to you anymore and you might be considering a bankruptcy or fleeing to a country with no extradition with the US then try these two guys first to see if they have an alternate solution.
Debt Consolidation
When I was younger and in grade school, I was a bit of a rebellious tyke, not because of a behavioral issue that required medication or because of any childhood traumas, simply because it could get a bit boring and I felt it my duty to shake things up.
Earning a despising look and several reprimands, it occurred to me one day that there’s only so much threatening that a teacher can do before the threat no longer holds meaning.
The same logic is being applied to debt by Americans all over the country. When it comes to immense debt, such as what is owed to China, it is of course, a bit different; China has a lot of weaponry. When it is a matter of credit card debt, defaulting on a mortgage or auto loan, then there are only so many threats one can take before it occurs to them that there isn’t much they can do about the debt if they can’t pay it.
Credit Scores
Being threatened with lower credit scores doesn’t mean much anymore. So many have lived with debt and low credit scores for most of their existence that they have learned to live without credit altogether. Is there a moral obligation to pay debt though?
Many don’t believe there is and see debt as a financial obligation. While the threat of losing your home or car is significant, if you can’t pay for it then there’s not much that can be done. Letting go of payments is becoming increasingly common and for many there’s simply no other choice; if there’s no income and nothing left to sell, then generally the only thing left to do is throw your hands up and walk away from it.
Dropping off the Radar
Dropping off the radar to keep creditors off of your back is so much harder to do nowadays. In the past, it simply meant not forwarding your mail, paying only in cash and not putting your name on any utility bills. That’s changed because of the internet, now anyone that wants to stay away from creditors has to basically never interact with the internet in any way that involves putting your name, rank or serial number into the system.
Anyone that is in debt knows that harassing bills from creditors doesn’t actually help in getting the debt paid off, everyone but the credit collectors seem to know that. Being stressed out by constant harassing phone calls is a bit self defeating, what creditors need to do is call with encouraging messages that everything will get better and that they have faith in you right?
Bankruptcy
Most citizens aren’t trying to skirt their financial obligations, they were either hit by a massive event like losing a job, bad health, losing all their savings to a crooked roofing company, things like that happen and there’s not all that much that can be done when we face all of our money being wiped out. Bankruptcy is still an option that many consider, there are a lot of naysayers about bankruptcy, but that doesn’t mean it isn’t a viable solution.
There are two individuals that are very good sources of financial advice – Clark Howard and Dave Ramsey. If the threats of creditors don’t mean much to you anymore and you might be considering a bankruptcy or fleeing to a country with no extradition with the US then try these two guys first to see if they have an alternate solution.
