Some people
get into debt problems for reasons that are utterly beyond their control.
Today on the show we've been focusing on cars, that's how we spent the first of the show doing but now we're going to talk about another area where a lot of folks
get into debt problems and of course that's real estate.
Fortunately, I didn't
get into debt problems, and it allowed me to build by credit history early on.
My inability to handle credit responsibly
got me into debt problems to begin with.
Not exact matches
The
problem of tax evasion in Greece has been pointed out many times during the
debt crisis: Christine Lagarde, the head of the IMF,
got into hot water over the summer with her comments that she felt more sympathy with children in Africa than tax evaders in Greece.
Getting into debt is so easy, the real problem though is getting out of debt and being completely deb
Getting into debt is so easy, the real
problem though is
getting out of debt and being completely deb
getting out of
debt and being completely
debt free.
If anything, it would prevent you from
getting into debt further, which is probably not a big
problem in your situation.
While many absolutely abhor credit cards due to the trouble one may
get into with them, if you use them like your debit card you won't have any
problems with taking on
debt.
That's why so many people who
get into credit
problems go right back to running up
debt the moment they can.
Replacing one
debt with another is not a good idea if you still haven't addressed the underlying behavior which
got you
into the
problem.
Our Joe Debtor, we call Joe Debtor, this is the average person that we deal with, our typical client, that's just the name we made up for him, he's
got money
problems and he's
got these
problems even before he
gets into debt.
A
debt consolidation could also help to stop you from extending the paycheck loan for another month and
getting into a deeper
debt problem.
The behaviors and attitudes that
got you
into debt are usually the
problem.
Again, if you don't have the
problem that you
got you
into this position of considering
debt consolidation under control, then you should not lightly pursue this option.
If you've
got a credit card
problem and you want to
get serious about your
debt, you can roll it
into a line of credit or something where the interest rate is much lower, or even something simple, understanding that you should pay off the highest interest rate first, just to reduce your
debt.
Josuweit said people run
into the
problem of living in the future tense, thinking they'll
get a well - paying job and therefore have the means to repay whatever
debts they incur.
If you have a strong desire for material things because that is normal to you, you feel like you deserve them, or you think you can't live without them (even though they are wants, not needs), then breaking that consumerism mentality is a bigger
problem than whatever
debts it
got you
into.
Part of the value of credit counseling is that it helps teach you better financial habits so that you can solve your
debt problem now, and hopefully prevent yourself from
getting back
into debt again in the future.
The biggest danger involved with credit card consolidation is that it can give a quick fix to the
problem and the person didn't address the root of why they
got into debt in the first place.
Learn from the experience of those who go through
debt consolidation but
get themselves back
into the same
problem all over again.
So when someone tries a quick fix to eliminate
debt, it often leads them right back
into trouble because they haven't
gotten to the root of their
problem.
So explain to me what your
problem is with
debt settlement companies because as I understand it and you're right, we've
got the same situation in Ontario, there was a new consumer protection law passed in 2014 but it's not due to officially, the section dealing with
debt settlements and some other areas isn't officially due to come
into effect until 2015.
This is where most people that have college
debt problems get into trouble — they take on a huge amount of
debt while
getting a degree that doesn't allow them to earn much.
The
problem is that logic is not what
gets us
into debt in the first place, so why would it be the best way to
get you out?
If you have
problems managing all your repayments on credit cards and other loans, think about
getting some help to reorganise a number of
debts into just one loan.
The point here is that there are people who
get into credit card
debt and have a spending
problem.
Aaron Street: Yeah I mean I think this can be taken too far, so if you had an example like Brad where he only represents criminal defendants and therefore there's no risk of him having a conflict come through the site when he's
getting actual information about actual cases, but you could see in a litigation, let's say a family law lawyer, if their website were trying to collect information to provide tools as both an intake and access to justice solution that you potentially run
into tremendous conflicts of interest
problems there and I think obviously any lawyer considering pursuing this for their firm should think through the implications of their particular situation, but I think what Brad's doing is awesome in the context of his criminal law practice and I think there are versions of a similar model that could be used in something like your
debt collection defense practice or a small business startup practice or an estate planning practice, but that doesn't mean that it's a model that should be replicated by every lawyer in every practice.
Jay, you are so right to view the credit report to see about how the person treats
debt, though I am running
into problems getting credit reports, as they want to come and do site inspections and meet specific guidelines.