Michael Welter

What will you do when your debt spirals out of control? Perhaps you no longer know where to turn next. A lot of us spend far beyond our means and cannot save adequately for future’s needs/emergencies. And more often than not, it spells disaster! What if you suddenly lost your job, or any other source of income? And you are in a mortgage, had a medical problem? What would you do now? Before you get trapped in this situation, or worse, bankruptcy. Observe these warning signals and steps so that you can take the right decision: KNOW HOW MUCH YOU OWE. - Some people doesn’t even have any idea how much they actually owe compared to how much they earn. Spending may seem be a satisfying and great outlet to relax, but NEVER forget to think about first on how these purchases are going to be paid. Are there any available funds to take care of them? Think about late payment fees and other surcharges that may be incurred. This can lead late payment fees and incur elevated interest rates.

You can no longer concentrate and sleep properly thinking about your financial problems  .Many people fall into financial trap that leads to  DEPRESSION. One may admit it or not, most often than not, financial  problems or issues play a sensitive part in one’s daily life. Once the  Creditors start calling you randomly even during unholy hours, sending  notification letter/s, or worse, collection agencies will deal with you  personally. When you are really pressed for options, tendencies would be to borrow  AGAIN from another creditor/s or loan sharks! If you give in to another  financial trap, you will never get out of debt in your lifetime, and  that’s a guaranty. You may owe some amounts from Creditors/Banks, but when you are in trouble  paying them off, the best option is to seek debt relief. You can arrange  for a certain period of time to settle your financial obligations with  your Creditor/s, while looking for ways to have additional earnings, such  as: Tak