In over your head?
With the economy in the sad state that is now gripping the US I hear more and more often about people getting in over their heads financially. The mortgage crisis is a huge contributor to the problem, with sub prime adjustable rates increasing foreclosures it’s no wonder people are seeking Debt help. With the problem as widespread as it is today, there’s now an abundance of companies offering Debt consolidation & Debt relief.
Will this solve the problem?
In my opinion, no! As long as people are carrying high credit card balances and taking out high interest variable rate mortgages the afore mentioned help will only be a bandaid on a system in crisis. It may alleviate some of the strain, but it’s no cure all.
Luckily, thanks to my number savvy wife, I haven’t ended up in that boat. We purchased out home when rates were extremely favorable and have never carried balances on our credit cards. Even after I started my own business we’ve managed to keep ourselves dept free and then some!
So, find some good financial practices over at a site like Bills IQ and stick with it. You’ll be able to keep yourselves out of dept too.
