I have several friends who were hit really hard in this economy. It’s hard to watch them struggle and try to make ends meet. So many people were living way past their means. Like I told my one friend. You were living a champagne life style on a beer salary, living on charge cards. Now it’s time to pay the piper. One of their options are debt counseling . They need to learn how to manage a budget and learn how to live within their means.
Right now, I imagine they will have to learn how to live below their means to be able to pay back what they owe. Their credit is ruined and it’s not going to be easy to fix but they must fix it. They are going to have to learn how to make a budget and live by it.
One of the things people should never do, is stick their heads in the sand and think it will all just go away. If you can’t pay your bills, you need to contact your lenders immediately and let them know what is going on and why. Most of the time they will try to work with you. If you let it get that far, most of the times your lender will have given up on you. Dealing with the lender is much better than dealing with a debt collector.
You could also try debt consolidation, or even bankruptcy as a last resort. For Damage control, go to a professional, a company that is reputable, who can sit down and explain all your options to you.
Recent Comments