Comments for Positive solutions for personal debt

Comment on Debt Solutions – “Carpe Diem” by rednelly

rednelly — Thu, 06 Aug 2009 11:43:06 +0000

Sadly, I think “Debt Solutions” response to this post is actually quite naive.

Of course there are ill-disciplined “shop until you drop” debtors. But, in our experience, most of the people who seek our advice are not like that at all.

Rather, they have been very disciplined about only taking credit they were sure they can repay but then have had an unforseen change in their circumstances that leaves them unable to repay.

This might be redundancy, marriage or partnership break-up, even a wonderful, positive change like having a child – all these things can leave someone struggling with debt that was manageable, but is no longer so.

And, if debt is really unaffordable, no amount of self-discipline will put things right on its own. If you are insolvent then you need a way out – and, in the UK, that means DRO, bankruptcy or IVA. If you are struggling, then you still need help like interest freezes. A DMP may help.

But, self discipline will rarely get the average, conscientious debtor anywhere on its own.

Comment on Debt Solutions – “Carpe Diem” by Erica Smith

Erica Smith — Mon, 17 Nov 2008 11:23:55 +0000

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Comment on Debt Solutions – “Carpe Diem” by DEBT SOLUTIONS

DEBT SOLUTIONS — Wed, 13 Feb 2008 05:30:48 +0000

The best debt solution that I know of and support is actually self discipline on how to use your money. If you hold credit card(s) then learn to control the use of those credit cards and do not just buy things because your mind tells you so. Plan for it. Do not try to overspend beyond your income; this will automatically lead to debts. At times debt consolidation loans are not always the solution. They may actually add to the amount of your debts. Consolidation loans may be good debt solutions for credit card users especially if you are experiencing high interest rates. At times debt management plans could work well for you or a debt counselor can do you wonders.

Poly Muthumbi is a Web Administrator and Has Been Researching and Reporting on Debt for Years.

Comment on Rewards in facing up to debt by Rewards in facing up to debt at Trust Deeds on The Finance World For News and Information Around The World On Finance

Fri, 08 Feb 2008 18:50:42 +0000

[...] Rewards in facing up to debt Debt advice itself falls outside the bounds of regulation up until the point where consolidation loans are a consideration or when an Insolvency Practitioner becomes involved for the purposes of IVAs or Trust Deeds (in Scotland). … [...]