Articles Removed from Site

I've removed some articles from this site due to abuse by other Bloggers. All comments will be checked to ensure they are genuine comments.

I'll republish the comments over the next few months and make a note on when they were first published.

The Articles removed included the following titles:

What does it Mean to Be Debt Free & Happy? First Published June 30, 2006

Christmas is Coming.... Some tips! First Published September 11, 2006

Tories to tame your inner tosser?First Published November 24, 2006
Credit Card Annual Fees on the Increase. First Published March 19, 2007



Apologies to those linking here from other sites.

Are We Being Encouraged to Declare Bankruptcy When in Debt?

Hello Friends!

Yes I’m back! I’ve had hundreds of emails asking me why I’ve been so ‘quiet’ lately. No, I wasn’t abducted by aliens, but I’ve been an “Alien”…. spending some time in the USA (as a non-American I’m described as an Alien. I just love that phrase!). So what exciting things have been happening? Lots! Let me explain …..

I’ve been researching the current policies of the banks and lending institutions. Recently there has been a marked change in policy by the lending institutions in the way that they handle people who cannot afford to repay their debts.

You’ll remember, last year I commented on the new legislation that made it ‘easier’ to declare bankruptcy? Well now it seems that this has resulted in some lending institutions actively ENCOURAGING debtors (those owing money) to do this! In fact some are even ‘selling’ this idea to those who would not need it if they simply had some help (educated guidance), support (freezing of exorbitant interest rates) and encouragement (with statements like: ‘we’re here to find the right solution for you’ rather than whatever’s easiest for the lending institution because then they can write the debt off and claim from their own insurance).

I was reading a copy of “The Vegetarian” this morning at 5.30am (my favourite reading time) and was drawn to an article about press coverage that The Vegetarian Society received after it discovered Masterfoods - owners of Mars chocolate (candy) bars - was changing its production methods. The company stated that it was not possible to confirm which products were suitable for vegetarians as Mars, Maltesers, Snickers and other popular products were to be made with the use of animal derived rennet.

What does this have to do with Debt Management?…. patience please!

The article went on to explain how the Veg Society asked its’ members to complain – SIX THOUSAND of them did so in a single week! That set about a massive press campaign and had even been discussed in Parliament.

Masterfoods reversed its decision within 7 days of the press coverage. That’s the power of our friends in the press.

That got me thinking about the need for people like you and me who need to know how institutions are changing their tactics regarding debt settlements.

I truly believe the general public need to know that bankruptcy and IVAs are not the only option. And often it’s not the right option either. I’ve often quoted research by Credit Action that suggests that many people who get in debt do so again once they are out of debt. Of those that don’t get into debt again, I suspect many refuse to take out any kind of credit because of the fear of ending up in debt again. This is in fact a fear of money… and such fears result in limited ability to create the kind of money one dreams of. (There are exceptions of course!)

I’m going to take you on a journey over the next few weeks and months so that you start to learn what strategies the lending institutions currently employ. I think you’ll be surprised at what you learn. Then perhaps if thousands of our readers complain about being encouraged to declare bankruptcy then we’ll make progress and help many more people get out of debt through the process of education. This journey is in collaboration with a real life case.
A colleague of mine, Val M, was recently widowed. Val is a vivacious, calm, caring, thoughtful and generous woman in her 50’s. A little on the short side, she makes up for her height with a massive personality. Always immaculately dressed, she is the picture of elegance and sophistication. She describes herself as a fairy godmother and grants wishes to all those she meets. Her husband, John, was Mr Big Personality and the life and soul of any party. He was an adventurer and certainly Val’s Prince Charming. Perfect for the Princess she is!

When John was diagnosed they decided to use all the financial resources they had available to them (i.e. credit cards, selling personal possessions, cars etc) to have the treatment he needed in the hope of a recovery. Unfortunately a recovery was not to be – and sadly John passed away a few months ago.

Val and I discussed her situation shortly after John’s death and I gave her the encouragement and support she needed to deal her creditors.

Through out blog, Val will be sharing her thoughts and experience … and I’ll coach her through the process at the same time.

This is a very challenging situation and currently Val is struggling with some of her creditors. She’ll tell her story in her own words. This case study starts in the next few weeks – so watch out for it in your mail box.

Perhaps by reading this experience, it will encourage you to respond to the posting and give your thoughts and encouragement.