Power to the People in Debt....

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. 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 may not need it if they simply had some help (educated guidance), support (freezing of exorbitant interest rates) and encouragement (‘we’re here to find the right solution for you’ not ‘whatever’s easiest for us (the lending institutions) so we can write the debt off and claim from our own insurance’.

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

The article went on to explain how the Vegetarian 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.

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

That got me thinking about the need for people like you and me to learn more about how institutions are changing their tactics. 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. Many times I have quoted research, which suggests that the majority of people that get in debt do so again, shortly after getting rid of their original debts. There are exceptions of course.

Many of those that don’t get into debt again, I suspect, do not take out any kind of credit because of the fear of ending up in debt again (certainly this is the feedback I’ve had from clients when they initially contact me). However, this confirms the teachings in my course - that these people have a fear of money… and such fears result in a limited ability to create the kind of money one dreams of.

When I read the article about the Vegetarian Society members collaboration and how they forced the giant to back down, it proved to me that the power is still with the people. What's happening in the USA is the same - I salute Mr Obama's campaign tactics... it's resulted in major change, because the people took action.

You can do the same by complaining to your MP about the lack of education for the average person in debt who does not know where to go for impartial help. Let’s lobby for better education about money management and building ones self esteem, rather than simply forcing someone into bankruptcy and not dealing with the psychology of the self esteem issues that rise when someone loses almost everything. Power to the people!

And to back that up, I've made the decision to reduce the price of our DebtFree & Happy Programme to just £129.00 + VAT (sorry, can't do anything about the VAT), including postage and packing. And, on 1st December, you'll be able to get copies in MP3 downloads, for just £69 +VAT., so keep an eye on the website www.debtfreeandhappy.com