Expert Debt Management
Expert Debt Management
Consumer Debt

     If you look at the United States and their national debt, one can easily come to the conclusion that the US is being weighted down buy its governments debt. Some sources are saying the US national debt is around nine trillion dollars. If you look at what the US's consumers debt load you will find an also surprising over 400 billions dollars. It's of no wonder that a nation that does not control its debt on the national level has problems on the individual level.

     While some figure that a personal debt helps the economy, while others figure it hurts the economy. The thought behind debt being good for the economy is that if it is easy to obtain credit than this increases the demand for consumer products thus increasing the nation's productivity. You can borrow money now to build that addition onto your house that otherwise would take 10 years for you to save. So the productivity happens now, not 10 years down the road. There is also the thought in this example, that if the real estate at the time is fairly healthy and moving along that the price to pay for the addition now would be perhaps the same relatively as paying for it in the future. A $50,000 addition now may cost $80,000 10 years from now to have done, which you would end up paying with interest if you borrowed $50,000 now and you would have to wait 10 years to enjoy it if you built it 10 years from now. Regardless if you have a large debt to pay, it hits you personally. It is ultimately you that owes the money back to your lender. Often this has resulted in frivolous spending thus the growth of the debt consolidation/ counseling industry. So many people have spent beyond their means that living with credit card debt or any unsecured debt just seems to be the norm.

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