The relative ease of obtaining credit enables consumers to get goods and services when cash is not readily available. It also allows them to buy things on sale, make purchases when prices are low, and pay for items at the same time they are using and enjoying them.

Unfortunately, problems and financial risks occur because consumers and creditors abuse credit. Careless use of credit by consumers can lead to financial difficulty, family problems, repossession of property, garnishment of wages and even bankruptcy.

Options are available to help you manage financial difficulties when bills stack up and you cannot pay them. This section discusses how to spot potential debt problems, how to set up a debt-payment plan, and court provisions for handling credit obligations.

Many people find themselves deep in debt at least once in their lifetime. It is not necessarily brought on by a desire to spend oneself into oblivion, but rather a lack of financial planning. In this section are the steps one can follow to get out of debt. These should help you in fighting the “debt giant.”

Your thoughts on this subject? Your comments appreciated!

Content © Rich Brott, 2011

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