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Living With Debt
With the possibility of many thousands of people having their homes repossessed because of their debts, how much support will they really get from their family, friends and neighbours? Sadly, many people believe that when someone gets into debt, it is their own fault for overspending on unnecessary items. These would include the upmarket car, the latest computers, gadgets and the 'must have' designer clothes. But, in the majority of cases, that is not the truth. Many people fall into debt through no fault of their own and for some of the following reasons: Sudden illnesses within the family structure
Redundancies
Divorce and the split of the collateral from the home
Separations
Recessions
Business failures
College costs ... etc The stigma of being in debt can have detrimental effects on an individual and on the whole family. Their state of health will decline rapidly into depression because of the constant worry of the next letter dropping into their mailbox, demanding payment of unpaid bills. Living with this daily fear has even led to many unnecessary suicides. (That may seem incredible to a lot of people reading this but I personally know of one such case and been told of others.) Is it not possible, that we as a community could help those in desperate need by setting up local social credit agencies for such eventualities? We could also, with our own skills, give time to help retrain people who need this support, so that they can start earning their own income again and as soon as possible. With thoughts of the last recessions, surely we can learn from those experiences, and be ready to give the help needed to people living with the stress of debt?
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Contributor's Note
With such a history behind us - starting with the Great Depression - we can help stop debt stress and death.
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www.debts-challenge.com
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The copyright for this content entitled "Living With Debt" has been specified by the contributor as:
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This intel was contributed by AnneMarie
AnneMarie
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May, 2012
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