Neil Douglas-Campbell on June 26th, 2009

photo credit: Nexeus Fatale

What is a debt spiral?
This is when the interest/repayments on loans reduce your available income so that you have to borrow more and more each month to keep up.  It is a downward path that leads to serious financial problems and even bankruptcy.
Example
A family has a monthly income of 2000.  Their [...]

Continue reading about Beware the Start of a Debt Spiral – It Can Seem Like a Happy Day

Neil Douglas-Campbell on April 26th, 2009

3 years ago I was deep in debt and unable to see a way out.  I was being called at home by debt collection agents – I dreaded the phone ringing.  Every day I received threatening letters.  Stress was making me ill and having to admit my situation to my wife was putting my marriage [...]

Continue reading about My Debt Story

Neil Douglas-Campbell on April 3rd, 2009

If you’re saying to yourself “I’m in debt” and worrying about it or wondering what you can do about it then you need help and you need to take action now!  Debt is like a lot of life issues – they don’t get any better if you just ignore them.  Tackle the problem head-on now [...]

Continue reading about Help! I’m In Debt, What Should I Do About It?