I Hate Debt

It seems that the downturn in the economy has resulted in more defaults on debt payments. No surprise there. It has also had it’s effect of the debt collection business. It turns out that the debt they buy is less valuable so the people who sell debt portfolios are making less and the collectors are collectors are collecting less. It tuns out that many collectors have turned up the heat on consumers by using illegal tactics. Who would have thought it?

Here’s a link to the entire story

Surprise! They’re at it again. Well maybe it’s not a surprise but many credit card companies are making changes to their cardholder accounts. You might not even know it’s happening until its too late.

Here’s the full story.

As bad as being in debt is it can be made worse by worry. And while some amount of worry may actually be beneficial if it spurs you to action too many people worry themselves sick. According to an Associated Press-AOL Health poll many people are turning their debt problems into health problems that include ulcers, severe depression, even heart attacks.

I know of cases where debt was hidden from family members until the secret was revealed in a death-bed confession.

I know this falls into the easier said than done category but don’t let debt worries make you sick. Being in debt is much better than being sick. And if you get sick it will cost you more money and make it harder to make money. That’s a bad combination.

When you feel overwhelmed by debt take stock of what good there is in you and your life today. Even someone with no money could put a smile of the face of a child or teach them to read. You have talents and abilities and if you’re above ground you still have hope and plenty to offer.

Take a moment to be grateful for what you do have.

Join us at My Debt where you can share war stories and get suggestions. We want you. We need you. Your debt experiences can help others and others will be glad to help you.

There is great news about getting not just a free credit report but your credit score.

Here’s a link to a great article.

Join the I Hate Debt Revolution by joining with us at My Debt. You can create your own blog, join discussions and groups and get and give help.

This is a team sport so join our team and start living a debt-free and prosperous life.

Welcome to the I Hate Debt Blog. This is where I’m going to post all the latest news and information on getting and staying out of debt. I welcome your comments and suggestions.