Eliminate Debt - Pitfalls of Credit
Posted at 9:31 PM
A big chunk of personal debt is debt we incur getting
things we could either live without OR could put off
purchasing until we can pay cash ~ Our will power or
lack of self control plays a key role in our growing
problems with debt!
"How To Own Your Paycheck Again" teaches you how to
quickly and efficiently eliminate your debts.
Be sure to read through our articles on how to elimiate
debt learn to achieve debt free living!
~
Pitfalls of Credit
Life, these days, is governed by the culture of credit.
In this highly materialistic world, you feel you can't
afford to be left behind so you resort to taking credit.
Moreover,the incredibly tempting offers flashing from every
corner are hard to resist. Thus you invariably get into the
habit of spending more than what you earn.
Have you ever realized that you become a creditor as soon
as you apply for a credit card, personal loan, interest
free term, mortgage, or even an I.O.U. at your local
grocery store? We also become debtors of our friend when we
ask them for some money to get us by till until our next
payday arrives.
Once you jump the credit bandwagon, your woes will never
end. Statistics collected by innumerable surveys reveal
that credit related suicides are on the rise and many
families are breaking up from financial stress. Even people
leading decent lives are pushed below the poverty line when
they cannot return the amount to the creditors. But the
lure of credit does not seem to wane. The word "defer"
coming in the definition of credit does seem ironic when
one considers the fact that the benefits we enjoy while
deferring their payment come to haunt us in the near
future. This deferment leads to high bills, extra work to
pay off the credit and lack of joy in life as a result
thereof.
Meanwhile credit agencies place the debts in the
hands of collectors who hound you for payment, who
promise that you will never be granted credit again,
who make your life a living hell and encourage thoughts
of running for the hills. Most don't run but they probably
resort to never answering the phone again either. Is
that living? No, probably not but it is all done in the
name of credit.
This brings us to the vital question whether the
credit agencies have no social responsibility? Should they
not ensure that you have the means to repay the credit you
areasking for? Should they not verify the information
youprovide on the application form? And so on. All
such agencies have a social responsibility and should be
made answerable for creating these new-fangled facilities
andflooding the market with irresistible temptations. Not
long ago, it was considered a value to live within your
meansand spend what you earn plus save for a rainy day!
What has become of those values? In the 21st century these
age old norms have succumbed to the pressures of
one-up-man-ship. It is considered more important to excel
your neighbour,credit or no credit!
In the ultimate analysis it depends on you and your
will power to decide whether you want to live with the
tension of unpaid bills or compete with your neighbour to
show himdown. In this time of over-choice you have to make
your choices prudently.
Gutschrift Halteseil is the owner and webmaster of
Ya Credit, a
leading Internet portal for credit information. For
more credit information and resources, be sure to visit:
http://www.yacredit.com
things we could either live without OR could put off
purchasing until we can pay cash ~ Our will power or
lack of self control plays a key role in our growing
problems with debt!
"How To Own Your Paycheck Again" teaches you how to
quickly and efficiently eliminate your debts.
Be sure to read through our articles on how to elimiate
debt learn to achieve debt free living!
~
Pitfalls of Credit
Life, these days, is governed by the culture of credit.
In this highly materialistic world, you feel you can't
afford to be left behind so you resort to taking credit.
Moreover,the incredibly tempting offers flashing from every
corner are hard to resist. Thus you invariably get into the
habit of spending more than what you earn.
Have you ever realized that you become a creditor as soon
as you apply for a credit card, personal loan, interest
free term, mortgage, or even an I.O.U. at your local
grocery store? We also become debtors of our friend when we
ask them for some money to get us by till until our next
payday arrives.
Once you jump the credit bandwagon, your woes will never
end. Statistics collected by innumerable surveys reveal
that credit related suicides are on the rise and many
families are breaking up from financial stress. Even people
leading decent lives are pushed below the poverty line when
they cannot return the amount to the creditors. But the
lure of credit does not seem to wane. The word "defer"
coming in the definition of credit does seem ironic when
one considers the fact that the benefits we enjoy while
deferring their payment come to haunt us in the near
future. This deferment leads to high bills, extra work to
pay off the credit and lack of joy in life as a result
thereof.
Meanwhile credit agencies place the debts in the
hands of collectors who hound you for payment, who
promise that you will never be granted credit again,
who make your life a living hell and encourage thoughts
of running for the hills. Most don't run but they probably
resort to never answering the phone again either. Is
that living? No, probably not but it is all done in the
name of credit.
This brings us to the vital question whether the
credit agencies have no social responsibility? Should they
not ensure that you have the means to repay the credit you
areasking for? Should they not verify the information
youprovide on the application form? And so on. All
such agencies have a social responsibility and should be
made answerable for creating these new-fangled facilities
andflooding the market with irresistible temptations. Not
long ago, it was considered a value to live within your
meansand spend what you earn plus save for a rainy day!
What has become of those values? In the 21st century these
age old norms have succumbed to the pressures of
one-up-man-ship. It is considered more important to excel
your neighbour,credit or no credit!
In the ultimate analysis it depends on you and your
will power to decide whether you want to live with the
tension of unpaid bills or compete with your neighbour to
show himdown. In this time of over-choice you have to make
your choices prudently.
Gutschrift Halteseil is the owner and webmaster of
Ya Credit, a
leading Internet portal for credit information. For
more credit information and resources, be sure to visit:
http://www.yacredit.com
