But the reality is, there is an American epidemic going on worse than any disease or national disaster...CONSUMER DEBT!
Consider these facts:
Statistics show an epidemic regarding credit cards, installment debt [trillions in dollars] and bankruptcies [2,690,000 people filed year ending December 31, 2005].
Consumer debt has risen to an all-time high of $1.5 trillion.
A cardholder has an average total balance of $20,000.
More than 80% of the national work force is dependent on two incomes.
An average American saves only 4% of their income per year.
Clearly, there needs to be a solution to the long term effects of debt bondage.
THE CAUSE:
There may be many reasons for a persons lack, debt, and credit situation, but two most important areas that people are held in bondage to are: LACK OF KNOWLEDGE AND SELF-CONTROL. Everything else is simply the symptoms of these root causes.
THE EFFECTS:DEBT AND POVERTY, FAMILY RELATIONSHIPS DESTROYED, COMMUNITY DETERIORATION, ESCALATION OF CRIME AND VIOLENCE.SOBERING FACTS:
The Lack of Knowledge
Whether received at home or in school, many of us and our young people today are not being educated in many of the most important skills required for success in life. Many youth and young adults are wayward because they lack the education, direction, and the understanding for their purpose and potential. Many have not learned the basic skills and life planning techniques that will provide a solid foundation for them to build a successful and stable life. Many have not learned the basic priniciples of financial success and well-being, nor money management skills, and how to be responsible when it comes to obtaining credit.
Credit Offerings:
Our young people have become the target of Credit Card Companies. Offering these young people "PRE-APPROVED" credit cards while in college with no visible means of support. That shiny, new credit credit card with their name on it causes them to feel important, making them feel like it is "FREE MONEY". You can buy your groceries with it, buy movie tickets with it, go to Buger King and feed all your friends with it. Young adults, graduating from college in debt, have no clue as to how to handle the situation, when it's time to pay the creditor. Unknowingly, these students are being seduced into debt. They lack the training in money and credit management skills, and therefore end up in debt beyond their control. Many do not see a way out and not knowing what to do have resorted to bankruptcy and even suicide. [60 Minutes aired a report on January 23, 2001 showing our young college students (18-22 years of age) who have been targeted by credit card companies on their college campus' for credit, and the colleges are getting hundreds of thousands of dollars for allowing them to be there].
It's the lack of knowledge and or rejection of knowledge that causes people to suffer.
Self-Control
Too many of us spend on impulse. Too many insist on having it NOW! And have forgotten how to save and purchase when we have saved enough to purchase the item we wanted. Credit has been sold as a convenience to the destruction of the fabric of which our society stands--our families--our very lives! Too many have become slaves to credit and bound by debt. And it's time that we made the decision to hate it. Not until we hate it, will we get rid of it. It is a true saying, "What we tolerate, we will maintain!"
CREDITORS ARE NOT NAIVE
Credit lenders are not ignorant or naive to Credit Repair companies who are selling "consumers" the illusion of "pay me a fee and I will clear your credit report." Consumers: those who use up or waste (time, money, etc.) for personal needs only rather than to produce other goods, are those who will pay someone a fee [no matter how much] to get what they want [a clear report] to get what they desire [stuff], that will waste away [will loose through the lack of knowledge, repossession, or foreclosure], because they were unwilling to do the right thing and that is be responsible to the debts they incurred. Being financially responsible proves proper stewardship. When a person pays a Credit Repair company a fee to delete the accurate information reporting regarding their debts, and if it is successfully removed, the creditor when they pull your credit to conduct an asset search, will find that the item was deleted, will sell the debt to another debt collector who will report it, and what has happend: You paid a fee, but received a temporary deletion of an outstanding legitimate debt, and therefore you got nothing and lost your money in the process. Now the new debt collector has added their fee, and interest keeps accuring. Does this make any sense? It's time to do things right! You can restore your credit in a legal, honest, ethical manner.
IT'S TIME TO GET OUT OF DEBT!
You may or may not realize how you came to your particular debt and creit situation. You are in and you are in deep! How do you get out now? What should you do? Do you file for bankruptcy? It looks and sounds like the way to go. You see those adds in the Newspaper, PennySaver and others "throw aways" that sell the ease of Chapter 13 or Chapter 7, and the attorney's who are willing to take installment payments. They are selling you the hope of getting out of debt, keep your home, keep your car, etc. Sounds great doesn't it? It's just not that easy! You will pay the price for taking the bankruptcy for years to come.
It's time to stop addressing the symptoms, putting a band-aid on it, and it's time to get to the root cause; to root it up and out, so you can be healed and move on to a life worth living.
It's time to wake up America! It's time to stop being taken by those who are seeking to steal from you! It's time to learn about the laws of the land and utilitze them to you benefit. You can become debt free and credit worthy, you just have to make a decision to get the help you need If you don't know what to do, let us help you.
Before trying to do it yourself without the knoweldge and understanding of the laws, please consider some Credit Restoration Comments that could save you 7 to 10 years worth of bad credit remaining on your credit profile.
