written by: Alek Smyth
I had never thought that I would ever end up in any kind of debt situation as I went through college. The fact of the matter is that everyone aspired to be something great which was part of my dram too. I had already gone through school by picking a loan which my parents helped me pay. Things took an unfortunate turn of events when my dad passed away in my last year and mom went down with depression. The payments ceased which meant that I had to get a solution for the payment of the debt fast. I managed to handle the school debt which also meant that I had to get a job.
Working for a convenient store was not my idea of a dream job but was the only thing that allowed me to work and study at the same time. I was too busy to realize that I had gotten into debt since I was new supporting my ailing mother. I borrowed from my bank an unsecured loan in the light of finishing my education which was not as hard as I thought. The trick however was paying back the borrowed money at the end of the day. My mom finally succumbed to her illness and passed away. All I had to my name was the house and work. It was hard making ends meet considering that most of my relatives were not in the country.
I finally completed school in the same year and got a better job in a marketing company. The pay was not as much as I expected and did not do much to sort my debt situation. The interests were killing me and I had to find a solution. I had heard about an Alberta debt consolidation service but most people I new called it a con for some reason. It was all about borrowing money to cover borrowed money. This did not make much sense but I was desperate enough to try anything. I walked to my bank and asked for more information. It occurred to me that I could actually bring all my debts together and pay them all off using the house as collateral. The interest rate they were giving was far much better than all the individual debts. This would get off many callers off my back which was good news.
I finally decided to take the step and I have never regretted it to this day. I am working more comfortably now, able to save and no debtor is after me. The lower interest rates allow me to save form my salary which is welcome news as I can still develop myself while settling the almost sorted out debt!
Author: Mary Inveigh
David stood with his back to his front door as hard knocks resounded against it. “You owe, David! You owe!” A man yelled from outside. David squatted down, placed his face against his knees and let out a low but audible cry. Finally, the knocking stopped. David strolled into his kitchen, and upon doing so he tripped over a bill statement and tumbled to the ground with a loud crash.
David arose with aches and pains, and then the phone began ringing. He picked up the phone, but before he could greet the person on the other end a woman began yelling, “You owe, David! You owe!” David slammed the phone down and again squatted, and again let out a cry. At this point he did not know which way to turn.
Looking around his kitchen, and feeling like death was upon him, his eyes caught a glimpse of a magnet stuck to his refrigerator. The magnet displayed a number for a debt relief company. With haste, David quickly picked up his phone and dialed the number. A very nice woman answered the phone and David explained his situation. The woman then explained to David the various credit counseling programs the company offered and the commitment they expect of the applicant. The woman explained all of the benefits like: all of David’s debt would be resolved within a month, there will be no more creditors calling or harassing him, and his payment to the debt relief company will not exceed one hundred dollars every month. The woman also explained the free services of the company which includes: counseling for those who do not wish to get back into debt.
After hearing all of this, David smiled from ear to ear and stated, “Debt consolidation is what I need and what I want.” The woman was happy to hear David’s reply and she then gathered all of the proper information necessary to begin his account. The setup took only a few moments to finish, and creditors immediately stopped calling and harassing.
This present day, David is no longer in debt, and, even better, he no longer has to pay the debt relief company. He can now sleep in peace without worrying about creditors trying to harass him, take money out of his paycheck, or even touch something as valuable as his 401K. David will never request a credit card again, and he has now established a money budget where he will never be put into debt again.
One of the greatest catastrophe’s in the history of humanity is the reality that, of all the topics that are offered in our universities, it’s not required for our kids to find out about the fundamentals of personal money management!
Really, you would be hard pressed to discover any topics available on managing cash in our school program’s and, if you did, you would be hard pressed to find a teacher suitably competent to successfully instruct the topic.
Which means that, for all the extremely smart individuals we have in extremely influential places, making choices on our behalf (e.g. Authorities) and all our advanced ways of existence, we as a culture are really establishing our children as much as fail monetarily for the remainder of their lives!
Consider it… Having the ability to efficiently consolidate debt and handle your personal cash can make an enormous difference in our old age and can possibly be the difference between retiring comfortably and retiring poor.
You don’t even want a six figure earnings to live comfortably, as numerous individuals on big salaries take significant quantities of debt and do not have sufficient money to cover any emergencies that might appear from time to time.
For a bunch of people, the more money they make, the more money they often invest on their life styles and what’s really a ‘Want’ is regarded as a ‘Demand’, nevertheless on the flip side, it’s very possible to reside fairly nicely on a low-income with good investing habits.
At the conclusion of the day, it isn’t how much we make that counts, it is how much we invest that can make the distinction!