Debtfree October 2017: Our Editor’s Note
“Good things come to those who wait“.
“Time heals all wounds”.
“Slow and steady wins the race“.
All these sentiments, which you have, at some time, no doubt heard someone say about a variety of tough situations in life also apply to paying off debt. Whereas taking on debt can happen basically overnight (with one big mall crawl) getting rid of that same debt can take a really long time. But how long will it take?
We discuss that in some detail in this issue as we compare the different types of credit consumers can use and how long it normally takes to pay off that credit. We then compare that with three common mechanisms to deal with debt (including debt review).
‘what drives some consumers to leave the process of debt review when it is in it’s very first few weeks’
We also discuss what drives some consumers to leave the process of debt review when it is in it’s very first few weeks. You might be surprised to learn just how many consumers do this. We look at why it is a really bad idea for both the consumer and the negative effect it has on Debt Counsellors businesses.
Our industry profile this month is with a long standing attorney who has seen the industry grow and change over the years. She offers some advice to both consumers and Debt Counsellors. We also answer a rather common question that we have received from one of our many readers. If you recently entered debt review then you should check that out.
It may take you a lot longer than you would like to get rid of your debt. After all, we are becoming increasingly programmed to want instant gratification these days. (Wait 3 minutes for my Mc Donald’s Burger??? What is this the stone ages!!) That’s the bad news but the good news is that time flies. So, stick with the process, get on with life (not debt) and before you know it you will be debt free.