Monday, September 26, 2016

Feel the Freedom of Debt Rescue

August 30, 2013 by · Leave a Comment 

Image by eyewashdesign A. Golden

Image by eyewashdesign A. Golden

Heavy with debt

In my experience, getting into debt is a bit like becoming overweight. Both conditions don’t happen overnight – they tend to creep up gradually while your back is proverbially turned. The other characteristic these afflictions (and I don’t choose that word lightly) have in common is that it’s much easier to get into them, than to escape. Just like weight loss, getting out of debt is difficult to manage on your own. Thankfully, there are experts who can help. Just like Slimming World and Weight Watchers which help count the calories and develop meal plans, professional debt solution teams can help quantify debt and put together manageable repayment agreements.

‘D’ stands for ‘denial’

I didn’t consider myself to be someone vulnerable to debt. As a kid, I was pretty careful with my money and thought I really understood its value. But when I left college with student debt I realised that this was a common situation to be in. I was far from alone with my new found ‘debtor’ status, and began to get more comfortable with the idea of owing money. My problem was that I got far too comfortable.

I was one of the lucky ones who got a job straight out of school, but like most first jobs, it wasn’t going to make my fortune. With my student debt pushed firmly to the back of my mind, I guess I got a taste for spending. And with credit far too freely available, boy could I spend! Before I knew where I was, I had credit card debts and a couple of sizeable personal loans to keep my student costs company. But again, my case wasn’t unusual, and I thought I could handle it.

Ignorance isn’t really bliss
As the debts accrued and my financial health declined, I did the worst thing possible – I ignored the entire problem. I kept on acting rich, when my paycheck told a very different tale. I thought that as long as I made my minimum payments, everything would be okay.

By this stage, my family were worried – having seen the obvious disconnect between my meagre salary and my upscale purchases – but I ignored their pleas for me to address the situation. Avoidance became my watchword.

The day of reckoning
The crunch came when I lost my job. Like many people in the early days of the recession, I didn’t see it coming. I never thought it would happen, and I certainly hadn’t factored this possibility into my lack of planning for the ever accumulating debt. I panicked. I lurched from anger at the injustice of the situation to fear of how I would manage. But most of all I wanted to escape – I needed debt rescue!
As I sat in my apartment and analysed the scale of the challenge I faced, I knew that I couldn’t do it on my own. I knew that I had to change how I lived my life and managed my money, but I just didn’t know where to start. Surely, someone out there had trod this path before and could show me a few short cuts? Thankfully, a former colleague recommended a professional debt solution team.

Bring in the experts
Asking for help from the debt solution team was the strongest decision I ever took – this was the first time that I actually owned the problem. As experts in consumer Debt Rescue, they offered me a range of services to help get my finances back in order. Thankfully, I had got another job by this stage, but it paid even less than my previous position, so I took the difficult decision to move back to my parents home. I was lucky to have this safety net – with over a third of us only one paycheck away from homelessness, I don’t underestimate the difference my parents’ generous offer made.

The condition of my return to the parental nest was that I took control of the debt. The debt solution team carried out a comprehensive credit card analysis for me as well as my other spiralling financial obligations. They knew that for me, the best course of action was to purge the plastic altogether and so offered me credit card rescue.

Debt consolidation allowed me to combine all the debts into one, and then work out the a realistic and achievable repayment schedule. Putting together a plan showed me that the problem, while large, was not insurmountable, and gave me an end point at which I could see I would be entirely debt free.

Released by Debt Rescue
I’m now close to the end of my debt story. I’ve worked through the process set up for me by the debt solution team and am close to being debt free. Although I am thankful for the safety net my parents provided, I am about to move into a new apartment, which we are all delighted about!

Debt rescue is achievable, with the right help. Take action today! Do it because it will allow you to really live again – but this time within the bounds of financial reality.

Author bio: Israel Brown enjoys economics and history, and combining these passions, yearns for a time when global financial systems were more transparent. He enjoys writing about the past, and is glad to consign his Debtrescue experience to history. He looks forward to a debt free future, underwritten by a modest investment in gold.

 

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