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The
Secret Federal Law
That Lets Anyone
Walk Away From
Debt
Without Paying It
Sorry, but
There
Isn't
One!
I
can't believe how many people come to financial counseling wanting help
with becoming debt free, only to leave and never return when they find
out there is no easy solution. Getting out of debt is
hard...really hard...maybe one of the hardest things you'll ever do!
Becoming debt free comes from
determination, hard work and time.
It
comes from temporarily making freedom from debt a life's goal.
It comes from getting to the point that
you say "I can't
live like this anymore--I won't
live like this anymore! I'll do anything to get
out from under this debt!"
It
comes from fear...intense fear! Fear of the next
bill that
comes in with no way to pay it. Fear about how your kids will
be
able to go to college. Fear of how you're going to be able to
make that next mortgage or car payment. Fear over where
you're
going to get grocery money. Fear of how you'll ever be able
to
support yourself in retirement. Fear of what will happen if
you
lose your job. Fear of what will happen to you in a bad economy. If you're not willing to do whatever it takes for as
long as it takes to deal with the crushing weight of too much debt,
you're not scared enough yet. If you aren't willing to make whatever sacrifices
in lifestyle it takes for as
long as it takes to get out from under debt, you're not
scared enough yet.
Being
debt free is an unbelievable feeling! You can afford things
other
people can't. You can take vacations that other people can't.
You can buy things other people can't. You
can drive
cars that other people can't. You can deal with financial
emergencies that others can't. You can sleep really well at
night
when other people can't. Being out of debt is wonderful; but,
it
is not easy! It is really, really worth it, but not easy!
And
don't make the mistake of thinking that bankruptcy is the answer.
It is a long, gut-wrenching legal process that will cost you at
least a couple of thousand dollars in court costs and legal fees.
In a bankruptcy, the court will look over everything you owe and everything you own,
and then decide what you will have to sell to make good on your
debts...if the court allows you to declare bankruptcy at all!
Plus, if you decide to keep your house and car after the
bankruptcy, you still have to continue making the payments.
Bankruptcy does not allow you to just stop making payments but
still keep everything.
If
you are looking for the easy answer, if you are looking for the quick
fix, if you are looking for a way to be debt free in a month or two
then freedom from debt is not very likely to happen for you.
If you're only willing to deal with your debt problems if the solution is fast and
easy, then you don't have the tools you need to accomplish freedom from
debt. The tools you need are discipline, determination, sacrifice and
knowledge. The discipline, determination and sacrifice have to come from
you--but, the knowledge you need is all right here on Eclecticsite.com's Financial Page.
If
you are looking for a quick, easy way to get out of debt, then look
elsewhere. If you think you will get out of debt by finding
some
secret federal law that lets you walk away from your debt without
paying it, then look elsewhere. If, however, you are to the
point
that you are determined to deal with your debt problem no matter what it takes,
then start with the numbered
articles. Read through all of them in order.
Then, go on to the other articles
and read them. Check out the finance-related books
I recommend. Create a plan
for reaching your goals. Start saving
so you can build up the money you'll need to deal with financial
emergencies. Then, follow the steps it will take to become
debt
free.
I'm sure that once you are debt free, you'll look
back and say that it was really worth it regardless of the sacrifices
it took to get there. And if I'm wrong, then you can always
max
out your credit cards, borrow all the money you can and put yourself
right back into debt. (yea, right!)
Please know that all of the thoughts, information,
suggestions
and techniques given on this site are nothing more than the author's
opinion on
the matter being addressed. Do further research before making
any decisions.
This
article copyright © 2007 by Keith C. Rawlinson
(Eclecticsite.com). All rights reserved.
This article may be
copied for non-profit use including newsletters,
bulletins, etc.
as long as you
first get written permission from the author
and full credit is given
which includes the author's name
and the name of this website.
