Debt is a game that should never be played outside of the rules, as cheating the game of debts has repercussions that the average player is not prepared for. It is best to be straightforward and find debt solutions when problems arise, instead of engaging in dangerous rounds of credit card roulette and account hopping.
The opening round of debt lures the consumer in, everything is affordable and the consequences seem far away, a problem for another day. But soon enough, as the bills arrive and the world becomes more expensive, consumers are at a loss. Paying back the price of their first round becomes too high, and forfeits have to be made to stay in the game. There comes a point where a consumer no longer has a debt solution in his stable, and he is forced to throw in the towel and ask for help from other players in the game.
That is when a consumer approaches the ‘big boys’ – loans are taken out to cover debts, and instead of consolidating them, it just adds to the pile of bills quietly collecting dust in the corner. At this point it is best to sit back and withdraw from the game, and the only debt solution left is to find a way to finish your current round once and for all by paying your creditors.
This can be done through debt consolidation loans, debt counselling, and more drastically bankruptcy and sequestration. The truth is that debt may seem like a fun game to start with, but unless you play it safe, it will consume you and become an unmanageable source of stress an sleepless nights. Before heading into drastic territory, know when to ask for your best debt solution from a credit expert, such a debt counsellor.
Article written by: Andrea van Tonder 03-2013