Bad debt can really harm your credit history
While most people use the phrase "bad debt" to refer to a lot of debt, or just owing a lot of money, this phrase actually has a very specific use when it comes to financial issues. Bad debt in this case is a debt that cannot be collected. This...
Debt Consolidation Help- employ a helping hand for debt elimination
Many of us, especially those who have found themselves in debts
for the first time, will laugh off the suggestion for debt
consolidation help. Where does debt consolidation help figure in the scheme of
things? Not anywhere if some people are to...
Loans Are Not Just For Christmas. Surviving The Holiday Debt Hangover.
Christmas is coming - A time for decorations, songs,
over-eating, gift giving, visiting the family, consumer spending
and the increasing of personal debts. Bah humbug.
While most people see Christmas as a joyful period there are
many who see...
Personal finance - have consumers had a belly full of personal debt?
For months, we were trigger-swipe happy, putting our groceries, clothes, holidays and service charges on our credit cards. We wanted mortgages, we took out loans, we watched Property Ladder and What Not To Wear. Whether you were born middle class,...
Reduce Debt - How To Prevent Bankruptcy By Reducing And Consolidating Your Debt
You can prevent bankruptcy by consolidating your debt with the
help of a loan or debt consolidation agency to reduce your
monthly payments and quickly pay off your liability. But before
signing final paperwork, you should develop a financial plan...
Debt Interest Doesn't Wait And Neither Should You
The number one reason people don't get out of debt is they don't
try. This may apply to you. You want to, but never seem to do
it. You put it off for whatever reason.
You want to wait for your life to be just right before you make
the attempt. You tell yourself, when I get the new job, when I
receive the next promotion, or when I get my next raise, I'll go
to work on my debt.
Perhaps you are waiting for some artificially set date. You tell
yourself the first of the year will be a good time to start or
when you get back from vacation. Whenever it is, it is always in
the future.
I call this "perfect situation procrastinating". This allows you
to put off any action, while you wait for your situation to be
perfect. It reminds me of a story I read the other day about a
mother registering her daughter for kindergarten.
The mother, a school teacher, took her daughter to register for
kindergarten. They were greeted by the kindergarten teacher near
a table outside the room. On the table she had some paper and
crayons. The mother stood back while the teacher did, what the
mother recognized as, a simple screening of her daughter's
abilities.
The teacher asked the child to choose her favorite color crayon
and write her name on one of the pieces of
paper. The mother
hovering in the background, knew her daughter could not only
spell her name, but the names of all her family members. She was
pleased her daughter would do so well.
However, the child just stood and stared at the crayons. The
teacher again asked her to choose her favorite color and write
her name. The child remained still. Her mother knew she could do
this but stayed back to allow the teacher to handle it. The
teacher then put her arm around the girl and told her it was all
right, she would learn to write her name during the school year.
On the ride home the mother asked her why she didn't write her
name. Her daughter responded, "She asked me to write my name
with my favorite color and there was no pink crayon". The little
girl, very capable of doing what was asked of her, didn't do it
because the situation was not perfect. Many times we are the
same way.
As you get ready to tackle your debt, do what you can, not
waiting for the perfect situation. While it is important to have
a plan, it is more important to just begin. A plan may be
adjusted as you go, but if you continually adjust your start
date, you will never put your plan into action. So, start now,
don't wait for your pink crayon.