Go to Joanna Tells All
- Add a comment
- Go to Is there a light at the end of tunnel with being in debt ?
joanna, this is a great post! Such valuable information for all and you are
absolutely correct, debt is more often the result of life circumstances as opposed to irresponsibilty.
I had excellent credit when I found myself suddenly in a divorce situation and was 'conned' into an irreversable credit/debt situation which drove me to no other recourse than bankruptcy (many moons ago). I felt and dealt with the anxiety of creditors pursuits, harrassment and even threats; I lost a home, a car and credibility that took nearly twenty years to build. It was devastating. Several years following the bankruptcy recovery, life circumstances hit again....credit was readily available and too easily attainable and I dug myself in again.
A friend led me to the FTC online and I ordered the credit correction/understanding information and repaired my own, and then began assisting prospective home buyers working with mortgage lenders. It is time consumming, but anyone can order brochures and information from FTC online and there are counselors there as well (for those who cannot afford assistance and are willing to take the time).
I have recently downsized my life and constructed a budget to pay off debt. Bankruptcy is devastating, takes ten years to recover now and there are more strict rules in place where many debts are not dismissable even in a granted bankruptcy. Of course in a dream world, nothing financially devastating ever happens, but the odds are against us and although in a dream world it is always best to avoid debt altogether, keeping it within reason and controllable is possible when understanding the type of information you've posted here!
Great post! I pray you get a great response!
posted by
roadscross
on December 2, 2007 at 1:46 PM
| link to this | reply
Good post!
posted by
Kayzzaman
on November 30, 2007 at 11:57 PM
| link to this | reply