Debt – A Bad Investment
- Author Dan Delgado
- Published February 12, 2008
- Word count 464
Using the credit allowed by credit card companies as if we were at the roulette wheel is more dangerous than playing the stock market with out any prior information of the stock we are about to place our hard earned money into.
Credit card debt is the single worst investment when used unwisely, it is one of the bigger reasons for divorces, suicides, etc.. We must become informed before using our credit unwisely, for example if we are buying stock with a particular company we research every angle imaginable before we risk our money. The same must also be taken into consideration when determining how to use the credit extended to us. Bad investments bring about bad results, so does the uncontrolled and irresponsible use of credit cards.
In America today we are seeing more and more foreclosures on homes than we have seen in any other era besides the depression era, mostly due to the failing home industry. This phenomenon along with our bad spending habits, our taking credit to the limit with out thinking of the risks involved is leading many of us to the edge of financial disaster. Responsible credit management as responsible investing is something we all need to exercise if we want to keep our heads above water in these troubled financial times.
The outcome of our bad choices as I mentioned before can lead many of us to lose the roof from over our heads, our families and even our own lives. If the situation is such where we are close to hitting rock bottom we must seek help. Everything we have worked so hard to achieve cannot be lost simply because we have made some bad decisions or lady luck has not been on our side. Nothing can be used as an excuse simply because we are the captains of our own ships.
Luckily enough in America there are laws or mechanisms that will allow us to find help to alleviate the burden of debt. The new bankruptcy laws in effect today stipulate everyone must comply with a debt relief program before qualifying for either chapter 7 or chapter 13. This is great news, as consolidating or negotiating settlements on our accounts will help us avoid the stigma of having filed for bankruptcy and help us save a percentage of the monies owed in the process. Everything is not as bleak as we may think it is, there is always light at the end of the tunnel and in the case of debt we must seek the help needed to alleviate it. We must look for this help wisely as we would if we were to invest our hard earned money or the next time we think about using our credit cards, we must remember to use them responsibly.
Dan Delgado is an active unsecured debt negotiator, he has experience negotiating personal as well as business debt. For more information please visit http://www.pemperandgartle.com
Article source: https://articlebiz.comRate article
Article comments
There are no posted comments.
Related articles
- Effective Strategies for Paying Off Your Mortgage Faster
- How Does Equity Release Work?
- Florida First Time Homebuyer: The Indispensable Guide of Tips, Programs, and Resources
- How to Become Debit Free?
- Sellers Concession the Closing Cost Option
- Financing Short Term rentals with DSCR loans
- Why move to Roseville CA
- Simple Interest Mortgage Advantage
- Are Low Doc Commercial Loans available in Australia
- How to Obtain a Rural Agriculture Loan Quickly and Easily
- What is a Caveat Loan?
- Tips for improving your Credit Score before getting a Home Loan
- 3 Things To Look out for With An Equity Release Mortgage
- Manage your Debts by Refinancing your Current Home Loan
- How to Get a Home Loan with Unusual Employment or Income?
- 20 Effective Debt Consolidation Loans Tips with Bad Credit
- Tips for Choosing a Non Conforming Lender
- Why is a Good Credit Rating Important in Australia?
- Most Common Ways That People Fall Into Personal Bankruptcy
- How to Choose a Consumer Credit Counseling Agency?
- Consolidate Your Debts and Take Control of Your Finances
- How to get a Home Loan due to a Bad Credit Report
- Debt Consolidation Home Loans are a Solution to Multiple Debt Problems
- Facts You Should Know About Low Doc Home Loans in Australia
- No Doc Loans from Private Lenders
- Home Loans to Consolidate Debt for People with Bad Credit
- How Can I Get a Mortgage If I Have a Bad Credit History?
- Guidelines to Fix Bad Credit Effectively Through Dispute
- Dealing with Debt – What to know about Debt Consolidation
- Investing In Yourself Before Investing in the Market