Category Archives: Debt

5 Signs You’re in Debt Denial

There are some things in life that can be extremely difficult to face up to and debt is certainly one of them. Many people would rather sweep the problem under the carpet or deny that there is a problem at all and just get on with their daily lives instead. When you take this approach though it doesn’t take long for debt problems to get out of control and turn into a much bigger problem. So are you in debt denial? Here are 5 warning signs that could show that your debt problem is bigger than you are willing to admit and perhaps it is time to seek some help.

Debt is a Trap

Not all debt is bad, but all debt is a risk

Benjamin Franklin once said that he’d “Rather go to bed supperless, than rise in debt”. Now I’m not all that clued up on the history of Ben Franklin, did he have a rich family and subsequently become the heir to a fortune? When he was talking about debt, did he mean all debt or would he have been happy with a mortgage? Whatever his further thoughts on the subject might have been, it does seem that not everyone agrees with his philosophy.

Feeling overwhelmed by finances? Time to grab a pen

Are you currently feeling totally overwhelmed by your financial situation? Don’t have a clue what you have coming in compared to what is going out? When you feel like this and the pressures of life start to pile up it can be very difficult to face up to the situation and it can instead be tempting to just try and ignore it. As time passes though things can quickly get worse and even out of control. If this sounds like your life at the minute then the most important thing you can do is to grab a pen and paper, flick the kettle on and start trying to make some sense of things.

Famous People Go Bankrupt Too

Going bankrupt is a horrible thing to happen to anyone. However, you shouldn’t think that it is something which only happens to a few people. The truth is that the number of bankrupts across the world is so high now that it is no surprise to find that they come from all walks of life.

There are a few famous names on the list of people made bankrupt over the years. Of course, some of these famous people recovered from their bankruptcy to become financially very successful in life while others seem to lurch on from one cash crisis to another.

A better and more complete way of Debt Management

Since 2007 when the world economy was first hit by the economic slowdown, the banking industry has strived hard to revive the UK economy. This has also led to sudden setbacks for their customers both directly and indirectly. The debt map if any would only show that all regions and people have been somehow been struggling with debt of some kind or the other. The problems surrounding leading banks such as HBOS, Lloyds TSB and RBS reached its peak in 2008 which required the state government to bail them out.