Bankruptcy, Debt and Spendaholics
Debt constitutes the worst possible problem.
It is something that can keep you awake night after night and render you helpless to deal with other more immediate problems like paying attention to your children or concentrating on your work.
Debt is a disease that affects everyone since the economy nose dived into one of the worst financial disasters since the Wall Street Crash.
It is at the top of everyone's worry sheet and likely to stay there for some time.
Debt may be seen by those suffering from its effects as an impenetrable wall that is impossible to tackle without expert help and thankfully, these days such help is readily available in the form of financial advisors and debt managers; experts whose job is to restructure financial commitments and make them manageable.
Bankruptcy becomes necessary when such measures have been tried and either put into effect too late to make a difference or refused for any numbers of reasons which might range from habitual financial irresponsibility to being totally without assets or income to offset debts.
Although bankruptcy is an unpalatable avenue to explore, the traditional stigmas of bankruptcy are no longer as invasive upon one's social acceptability as they once were.
Many famous people are celebrated bankrupts and tend to wear their bankruptcy as an outward sign of being colourful.
The inconveniences of bankruptcy tend nowadays to be just that; credit restrictions put in place to prevent the bankrupt person 'from themselves'.
In many cases, these restrictions have absolutely no real effect because the bankrupt person simply relies upon their partner for a healthy credit rating, and so the circle continues...
The new bankrupt is a person considered to be just another victim of the credit crunch and as such not to be blamed for financial incompetence.
The credit crunch is carrying the can for a number of financially irresponsible characters of limited intelligence who borrowed indiscriminately from companies that displayed a woeful lending policy just prior to the worst economic freeze in history.
The next ten years will be interesting as savers continue to struggle saving because it is what they do and borrowers continue borrowing for the same reason.
They cannot stop and change the habits that have become ingrained over years of living 'on tick'.
Responsible spending is a lesson that is hard to learn for someone who is a serial shopper and even in the credit crunch consumers are being encouraged to find a spending vehicle in whatever way they can to prompt some movement in the gridlocked markets.
It is something that can keep you awake night after night and render you helpless to deal with other more immediate problems like paying attention to your children or concentrating on your work.
Debt is a disease that affects everyone since the economy nose dived into one of the worst financial disasters since the Wall Street Crash.
It is at the top of everyone's worry sheet and likely to stay there for some time.
Debt may be seen by those suffering from its effects as an impenetrable wall that is impossible to tackle without expert help and thankfully, these days such help is readily available in the form of financial advisors and debt managers; experts whose job is to restructure financial commitments and make them manageable.
Bankruptcy becomes necessary when such measures have been tried and either put into effect too late to make a difference or refused for any numbers of reasons which might range from habitual financial irresponsibility to being totally without assets or income to offset debts.
Although bankruptcy is an unpalatable avenue to explore, the traditional stigmas of bankruptcy are no longer as invasive upon one's social acceptability as they once were.
Many famous people are celebrated bankrupts and tend to wear their bankruptcy as an outward sign of being colourful.
The inconveniences of bankruptcy tend nowadays to be just that; credit restrictions put in place to prevent the bankrupt person 'from themselves'.
In many cases, these restrictions have absolutely no real effect because the bankrupt person simply relies upon their partner for a healthy credit rating, and so the circle continues...
The new bankrupt is a person considered to be just another victim of the credit crunch and as such not to be blamed for financial incompetence.
The credit crunch is carrying the can for a number of financially irresponsible characters of limited intelligence who borrowed indiscriminately from companies that displayed a woeful lending policy just prior to the worst economic freeze in history.
The next ten years will be interesting as savers continue to struggle saving because it is what they do and borrowers continue borrowing for the same reason.
They cannot stop and change the habits that have become ingrained over years of living 'on tick'.
Responsible spending is a lesson that is hard to learn for someone who is a serial shopper and even in the credit crunch consumers are being encouraged to find a spending vehicle in whatever way they can to prompt some movement in the gridlocked markets.
Source...