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In financial trouble? Bankruptcy is the an option
by Peter Bankrofte

Credit is the answer that some people adopt when they
find it hard to manage finances. Living in society
today is hard as it is so materialistic and people
finding it compelling yet difficult to always keep up
with the Jones. Because of this debt is increasing,
rather than a person~s wealth. However when people
are consistently taking on more debt and cant break
this cycle than bankruptcy soon appears as the only
option left to them.

Credit cards, personal loans, interest free terms,
mortgages, IOU all contribute to the fact that people
can~t stop wanting more money and more debt. This is
especially the case now that the choices are so
endless. Credit, credit, credit - people are tempted
and are jumping on the bandwagon in droves.

Why keep using credit when the surroundings around us
everyday are falling apart? On the increase is suicide,
bankruptcy, family breakdown because of stress and
some are living below the poverty line. Even though
people may think it is a great idea to defer their
payments, the bills begin to pile up high without you
even realizing how quickly you are falling into more
debt. At the same time as our debt is increasing our
income just doesn't seem to go as far - this makes
paying off bills even harder. Is being in a never
ending cycle of paying of debt a happy life?

Meanwhile credit agencies place the debts in the
hands of collectors who hound you for payment, who
promise that you will never be granted credit again,
who make your life a living hell and encourage thoughts
of running for the hills. Most dont run but they probably
resort to never answering the phone again either. Is
that living? No, probably not but it is all done in the
name of credit.

Ironically, people aren't screened well, when applying
for credit. Sometimes they are approved even if they
can't really afford the long term payment plans. An
employer is usually never contacted about an application
of an employee, therefore making credit easier to obtain.
Credit is now expected and accepted in society, after
all, having everything is the way in this 21st century.
Budgeting and saving is now a foreign term that will
keep being shunned because it seems difficult to manage.
Ironically, this is the simpler way of living.

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