Man lives in the sunlit world of what he believes to be reality. But… there is, unseen by most, an underworld, a phenomenon that is just as real, but not as brightly lit…Tales from the Darkside? Nope! Tales from the Debtside.

  • Debt is the toxin that feeds fear and fear is the toxin that feeds debt.

  • If you buy more than you need, you gain more debt than you want.

  • The person who thinks debt-free life is possible is the one who is going to get rid of debt in life. Make real effort to do so.

  • We can easily forgive a child who is afraid of the dark; the real tragedy of life is when men are afraid of the light - Plato

  • Any credit repair company that promises to remove legitimate bad debts from your credit history is lying.

  • Under the Consumer Credit Protection Act, such information remains on your credit report for about seven years.

  • The disappearance of bad credits, if any, is only temporary.

  • For help, check out the National Foundation For Credit Counseling.

Craving for Credit is the real problem!

We live in such a consumer driven society - credit cards just help us get what we want when we can't afford it. In our society we overeat, overspend, over consume. In general - donuts and credit cards are not the problem, our constant craving for food and credit is the real problem!

The Credit Card Song by Old Man Pie

Ahead of its time this is a cartoon animation that's been up on the web since 2006 and is all about the credit crunch crisis.

Credit card spending and loans from banks are in their trillions of dollars and something has to give. We no longer spend what we have earned, we spend what we haven't earned on the back of house price rises and yet more loans.

The banks are prospering and fat cats are awarding themselves massive bonuses, but it cannot continue.

Beware the debt time bomb may bring the walls of the western world clattering to the ground.


Debt Menu

 

 

 

 

 

Debt Is Four-Letter Word In Financial Success

Friday, September 3, 2010, 6:00 AM | 1 Comment

I have often said that debt is a four-letter word that is not necessarily bad when mentioning it. There is bad debt and there is good debt. We must avoid stinking bad debt but good debt is usually the livelihood in our personal financial life. TD AMERITRADE Holding Corporation did a survey about how folks […]



Anxiety And Obsession May Lead To Overspending

Friday, August 13, 2010, 3:38 AM | 7 Comments

Millions of folks overspend seemingly with no reason at all. However, psychiatrists and other social scientists tell us that there are always some reasons behind overspending, overeating and over everything else. Especially those who cannot even afford will go out on a spending spree. In that case, it’s just pathetic that we spend more than […]



Debt Collection Mustangs Are Hopefully Being Broken By FTC

Wednesday, July 14, 2010, 12:14 AM | 1 Comment

Federal Trade Commission finally realized that the process for debt collection is wrong, immoral and highly unethical. [The three words are mine and not those of FTC.] On its July 12, 2010 blog post, FTC has used the words “some concerns with debt collection litigation and arbitration.” It also said it needs more data [and […]



Getting Into Debt Is Easy – Buy Debt Making Machine

Saturday, June 12, 2010, 6:29 AM | 16 Comments

In these bad times, if you are like millions of folks and are living with seemingly permanent debt that without some external force, either on your own or an outside helping hand, will remain with you for the rest of your life and beyond. After you are “deleted” from the surface of the earth one […]



The Top 20 Cities With The Most Consumer Debt

Monday, May 17, 2010, 1:39 AM | 2 Comments

Experian, the credit rating agency, on May 13 2010, released a list of 20 cities where their residents carry the most personal debt as of March 2010. To come up with its list of 20 cities, the agency took a statistical sampling of customers from its credit rating database in each metropolitan area. Researchers then […]



Tips To Follow In Recovery And The Next Booming Economy

Tuesday, May 11, 2010, 2:59 AM | 1 Comment

Most folks did OK and better in the previous booming economies if any of us can remember that far back. However, for some folks [read millions] it turned to be financial misery in disguise. They spent heavily and consequently borrowed heavily, with their eyes closed from their financial surroundings. If they were able to see […]



The Truth About Debt Consolidation By Dave Ramsey

Sunday, April 4, 2010, 7:56 AM | 3 Comments

Dave starts out his post with two statements: Myth: Debt consolidation saves interest, and you have one smaller payment. Truth: Debt consolidation is dangerous because you treat only the symptom. That is absolutely true. You pay more in the long run even though your interest is lower. You just stretch the payment over more years […]



Poor, Orphans, Destitute – The New POD Group

Friday, March 19, 2010, 12:16 AM | 4 Comments

A new group of the Poor, the Orphans, the Destitute (POD) have been created during the last few years. They are the good, decent folks who have lost jobs, foreclosed on their homes, declared bankruptcy and have lost their entire livelihood. They have become financial Orphans of the American society. A new landscape of websites […]



Defusing National Debt Bomb – It Can Be Done – Here’s How

Tuesday, March 9, 2010, 2:18 AM | Leave Comment

Fareed Zakaria writes for Newsweek and is a commentator on CNN and has his own show on Sunday, again on CNN. He has written an article published in Newsweek on Feb 26, 2010 and has titled it “Defusing the Debt Bomb. It can be done. Here’s how.” I found it very interesting to read and […]



Way To Go, Sujata Sachdeva – You Are Finally Debt Free

Monday, March 8, 2010, 1:44 AM | Leave Comment

I gotta give it to you, Sue baby. More and more folks – except the bonus babies – have gone to great lengths to be debt free. Once you get in heavy debt like some folks, it would take you almost a lifetime to get out of debt. In the last two years, you paid […]