Toooooo much debt. Ouch! I am not alone in this. Most Americans, and most people in Western developed nations, have a large amount of consumer debt. This is in part because our governments and banking systems encourage debt, due to a skewered view of national wealth. It is believed that debt equals wealth, because debt supposedly equals worth. If you have debt, you have credit. If you have credit, it comes from the banks who have a high opinion of your financial wealth and worth.
However, over time and with inflation, everyone is in debt, has no savings, and owes money to the banks. This idea of debt equaling wealth is a very short-sided and unrealistic view of economics.
Nonetheless, we all find ourselves in this mess, so what are we going to do?
The Internet provides a lot of information. Of course, information can only take us so far; we must discipline ourselves to cut spending and increase income and savings. Yet a little information can go a long way. There are many, many websites and organizations that can help you understand the system, help you realize how you got into debt, and help you get out of debt and avoid bankruptcy. One such site is ClearDebt. They are a company in the UK, and have an excellent program called IVA, “individual voluntary agreements.” These are suitable for people who need to negotiate their debts with their creditors and make a payment plan. This can be a last scenario for people on the brink of bankruptcy.
ClearDebt does other things. They can help:
- Slash your debt
- Freeze the interest rates
- Stop the creditors from harrassing you
- Give free advice about debt management
ClearDebt does not give loans and they do not charge you for their advice. The website has lots of information; if you are needful of some advice and information about managing your debt, help is only a click away. Ah, the beauty of the Internet! Get help and let’s stop this vicious cycle! And let’s hope the governments stop it, too!






