The economy worldwide has collapsed. The recession has killed jobs all over the world and in your hometown and suddenly you find yourself without a job and no income. Maybe you had some savings, but soon they are gone. But one thing is for sure, your creditors keep calling you to collect what you owe them. And you are trying hard, but there simply isn’t enough left between your home, your car and buying food for the family. You get desperate, and you start thinking about bankruptcy and debt consolidation.

Unless you are lucky to be rich you probably have accumulated a lot of debt over the years. As we walk through life we desire to spend money on things that we can’t yet afford but nevertheless want to have. Things like cars, flat screen TV’s, fancy watches or even necessities like furniture. You may even still be stuck with your student loans. Debt is all around you and for many people it is common to have 30-40 thousand $ in debt by the time they turn 30.

And that really isn’t a problem, as long as you have a job. Once you lose your job all bets are off. This is especially true for your credit card debt. Credit card debt is unsecured debt, which means it is not backed by collateral like a car loan or a home mortgage. For this reason the interest rates charged on your credit cards are insanely high, in some cases even more than 30%.

Now think about that! At 30% interest if you owe just $10,000, your monthly payment just for the interest is already $250. And with this payment you will stay with the debt for the rest of your life. Period. You have become a modern day slave of the credit card company, but you are worse off as you won’t receive food and shelter for your work. Now imagine you owe $30,000. How are you ever going to be able to pay that off. Especially when the going Kamagra Soft gets rough.

You won’t be able to, and credit card companies know that. In fact they are counting on that. This is how they make their money. You are on your own and you have to find ways to get your life back. Unless you are able to afford monthly payments that allow you to pay back what you owe in a couple of years, you are better off look for alternatives.

Bankruptcy is one alternative. It is a hard choice though. It really will impact your life and the wellbeing of your family dramatically. Yes you become debt free but at a terrible cost. You lose everything you worked for your entire life. Maybe that’s why people call bankruptcy the solution of last resort.

You owe it to yourself and your family to explore less radical solutions before you go down that road. Debt consolidation may just be that solution. Combine all of your debt into one, pay only one monthly payment and negotiate the interest to more manageable levels or maybe even eliminate interest all together.

If you are not sure you can do this alone, don’t worry. Most people wouldn’t dare to attempt those negotiations on their own. Go and find professional help, there are plenty of services available for people in this situation.

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Category: Finance/Credit/Debt Consolidation
Keywords: debt consolidation, debt consolidation help