The Worry of Debt – Credit Crisis Part 1

Sinful society says, “it’s completely OK, LIVE WAY BEYOND YOUR MEANS”

1 Samuel 22:2a  And everyone who was in distress, everyone who was in debt, and everyone who was discontented gathered to him.

The credit industry has done a masterful devilish job in enslaving millions of Americans.  Reports each year see the average debt total increasing.  Students for example pushed into college by overzealous parents can find themselves with a degree without a job and a insurmountable debt to be paid.  By the way, I am not discounting a college education, I am though discounting the preparation and the goals from college, meaning the applicable career to pay the debt off quickly.  One should not believe that by getting some obscure degree while amassing a $100,000 student loan debt, that the coinciding career is ever going to pay this off.  These are now the same students clamoring for government help.  Think BEFORE you amass the loan, as to what will result in a career.

Sinful society says, “it’s completely OK, LIVE WAY BEYOND YOUR MEANS”, as the degenerate Kardashians chime in “you only live once”.  Without being blessed with monetary wealth, the temptation is to take that bait and then cross your fingers.

Before my rebirth, I lived that life, I lived beyond my means. I do have a college education, had great paying jobs, but my credit debt was insurmountable because I focused on the WANTS instead of NEEDS.  Sadly what gets under reported in this country is that credit debt is a MAIN cause of depression, anxiety, and unfortunately suicide.

I never considered taking my own life over the debt I had, but can understand how one could get to that point.  Without faith in God, faced with a debt which now cannot be paid, the lowly slave to credit has little to no options. The anxiety each day builds as one goes to the mailbox to receive more bad news.  Without winning the lottery, the debt seemingly cannot be paid.  Some try consolidation schemes, or then get more credit to pay the credit.  Bankruptcy is the only viable option, but comes with giant penalties along with the shameful stigma of “I filed bankruptcy”.   So I can completely understand why one would feel very scared, depressed, and as if there is no options left.

The debt crisis is one that we never hear being talked about.  We see the Discover Card commercials or other credit commercials such as Capital One which make it seem like  being in debt can be a joyful experience.  As they prompt you to live beyond your means!

Wants will always come before or equal to needs with that plastic card in your wallet, always tempting you to go beyond of what you can afford.

Just Don’t Do It!

If you are a college aged person, don’t do it!  Unless you are completely financially disciplined and viable, never take a credit card out!  Don’t buy the line “you need to, to build your credit”…No!  Live within your means!  Because once you start digging the hole, you will never be able to dig yourself out.  By living within your means, you will never have to face that debt hole, and guess what? You will buy a house, car, all the things you didn’t think you could ever have, you will have.

If you are in debt, do something about it today.  Tired of going to the mail to see another high payment and debt total? Do something about it.  Stop doing it in other words. Stop adding to your debt total for one thing.  Your credit card companies will not help you, they hope you fail so they can tack on some more interest and finance charges.  So ask yourself what needs to be done.  If that means a cold stop, do it!  Your credit is already in shambles, it cannot get worse.  If bankruptcy is the only viable option for you, file it and then never ever get back into the credit card debt again.  If there is a consolidation loan which can be obtained with terms which will get you out of the debt as soon as possible, look into it.  The sooner you take action, the sooner you will be out of the problem.

Don’t be like I was, praying to win the lottery as a way out. God doesn’t entertain those prayers, speaking from experience!  What you first need to do is acknowledge and confess your problem “I am drowning in debt and have a problem”.  And then to realize the government is never going to bail you out, the credit card companies aren’t going to give you a pass, your income isn’t going to ever be high enough to bail you out, and winning the lottery is a sham.   In my recent book I spoke of the Apollo 13 “Houston we have had a problem” analogy. Acknowledge the problem, stop excusing yourself, stop rationalizing, stop blaming others.  Admit you are totally responsible for the debt hole you are in.

In Part 2, I will write of ways I used to get out this debt. Hard choices will need to be made, but if you are willing to take a step towards freedom from debt, you can and will get out of it! I am living proof of this.

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