Debt is a disaster in a person’s life, which no prophecy can predict. Let us look at debt at its face and re-assess the terrible and dire truth. It comes with a bang (but definitely with a warning, which most of us choose to ignore), turn us into broke and leaves us completely clueless, that even before we realize its aftereffects, the damage is already done. Nevertheless, we are aware of all the debt relief options like debt settlement, debt consolidation, credit counseling etc, but let’s confront the reality upfront! The very first feeling that occurs after knowing the presence of debt is that of a suppressed panic and insecurity. After all no one enjoys the loss of financial independence! However, we talk at lengths about the harsh conditions like debts, deficits and bankruptcy and despite the awareness about its deadly consequences; we do but pay little attention towards our own habits and actions that invite the situations of debts and bankruptcy. May be, we still have not fully comprehended its significant damages.
To start with, it’s human nature to cry over spilt milk and to stretch beyond the limits. We often take our own money for granted and indulge in self-destructive extravagance which weaves the web of debt around us, in our ignorance. And as the debtor finds out their deplorable monetary plight, all they can think about is getting out of debt as soon as possible, and in a hurry and flurry they tend to make more mistakes by being victimized by various financial frauds and debt relief scams that influence them with its flowery yet fake promises. If one would check out the internet, one would be shocked to find out the startling and devastating facts about debts and how deeply it seeped in our lives and lifestyle. The solution to it is not an impossible thing to achieve! Budgeting, savings and wise spending are the only three mantras that can save humanity from this devil called debt!
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