Posts Tagged ‘Assets’

In the troubling financial times we find ourselves in, many Consumers are increasingly becoming over-indebted.

Broadly a Consumer will be over-indebted if his income is insufficient to adequately provide for himself or his family and to service his debt obligations.

There are obviously varying degrees of over-indebtedness and, most certainly, many Consumers will be able to manage their debt by developing and adhering to a strict monthly budget.

Thereagainst many Consumers, if not the majority, are so overwhelmed by there debt, that they cannot address it by the mere introduction of a budgetary regime. This category of Consumer comes from all walks of life and income groups. The fact is, debt respects no class.

Unfortunately, many over-indebted Consumers, in the erroneous belief that they are powerless to address their burden of debt, often ignore same and go into a state of denial with regard thereto. Others allow considerations of pride or embarrassment to prevent them from seeking and obtaining debt relief.