A Debt Mentality

While working through my own debt situation, and helping others resolve their life issues regarding debt and credit, it never ceases to amaze me how similar the life stories are and how profound is the effect of debt on the way a person thinks about life, irregardless of how much money they have or don't have.

I remember being in junior high school hearing my father say something to the effect of "you only have as much money as you have credit." Now whether that was what he said exactly or not, dosen't matter because it stuck in my head that unless you had massive debt, you couldn't have massive prosperity. Now, some 40 years down the road, I realize how flawed that reasoning was and my responsibility for allowing it in my own life.

I suspect I am not alone in those feelings. Others may get to this mentality by different life events, but it is incredible how common the debt stories are. We all get here by different routes, but FEEL the same about the result. My personal view is the way debt makes you FEEL is the whole purpose of getting in debt in the first place. If you are in debt and have bill collectors calling, and getting the envelopes that you can read PAST DUE through, and getting the ugly phone calls, you understand what I'm talking about.

One way to describe it is to use the principle of slavery, or being in prison. Tim Robbins and Morgan Freeman acted out this concept in a powerful movie titled "The Shawshank Redemption" (get it and watch it closely). Even though he was in prison, Tim Robbins character was never a "prisoner", and even when Morgan Freemans' character was released from prison, he was still a prisoner. How one led the other to that awareness is the point of the movie, and a powerful life lesson.

One more point. There are those who have access to hundreds of thousands of dollars, and are broke because of a debt mentality. They suffer the same feelings of someone who only has a few thousand dollars of debt, and as near as I can tell, IT IS THE SAME FEELING. I saw a coyote put in a cage one time. Completely wild animal, never caged. The panic that creature experienced caused it to die over time. A debt mentality is similar. We may not panic and die all at once, but we will do it a little at a time, and the result will be the same. No enjoyment of life, no hope beyond working to pay past due bills. And this mentality fits how someone chooses to see life. But it dosen't have to be this way.

Rich Toops created http://www.do-it-yourself-credit-repair.net to provide information that would allow subscribers to restore their credit files, and get back to purchasing status. This is still the primary function, but the awareness that there are some subscribers who keep repeating the same debt cycle is leading to a deeper look at how debt causes someone to think about their life, and how to break that cycle.


Free Quran in All Languages

Free Tafsir Books

Finding and Applying for the Right Credit Card Offer Online

Anywhere you go online nowadays, you will see a multitude... Read More

Warning: Free Credit Report Imposter Websites Springing Up on the Web

A recent amendment to the federal Fair Credit Reporting Act... Read More

Student Credit Cards 101

If you're a college student, you probably already have a... Read More

Your Credit Card May Be Costing More Than You Think!

Do you know what your credit card is truly costing... Read More

Credit Card Debt: One Way To Avoid It

One of the biggest problems people have in these modern... Read More

Learn The Truth About Identity Theft

Identity theft is the fastest growing crime in America, according... Read More

Collection Agency Secrets for Collecting on Bad Debt

Getting worried that one of your clients, customers or patients... Read More

Understanding Credit Report Score

Understanding credit report scores is important when you see your... Read More

Top 5 Reasons To Check Your Credit Report Regularly

#1 Make sure mistakes aren't hurting your credit.Reviewing your credit... Read More

Credit Help for Real Estate Financing: Five Categories of Your Credit Score

1. Payment History -- 35%The number of accounts paid as... Read More

My Student Credit Card Adventure

And some practical advice too!My first credit card?I remember my... Read More

Practical Suggestions for Protecting Yourself From Identity Theft

It's no surprise that thousands of Americans are victimized by... Read More

How To Boost Your Credit Score

Years ago your credit score was a big secret, known... Read More

A Summary of the Fair Credit Reporting Act

This summary of the Fair Credit Reporting Act will explain... Read More

It Takes Credit To Build Credit

Using a credit card wisely is an important step in... Read More

Online Credit Report and Online Credit Reports

Online credit reports are easily accessible to those interested in... Read More

UPS Delivers the Goods, Your Identity

Well now we add CitiGroup and UPS to the Identity... Read More

All Is Fair In Love, War, and, Your Credit Report - At Least It Should Be! Understanding the FCRA

Fact: Over 150 million Americans have credit report with the... Read More

Using Credit Cards Wisely

"I think money was stolen from my card" or "I... Read More

I?ve Heard About FACTA; What Does It mean?

What FACTA means is that if you, as an individual,... Read More

How To Protect Yourself Against Credit Card Fraud

In the high tech world of today, credit card fraud... Read More

Avoiding College Credit Card Traps

Congratulations college freshman! You're about to embark on one of... Read More

Read and Understand Your Credit Card Statement

Have you ever looked at your credit card statement and... Read More

Dont Dig Your Own Pit

If you want to enjoy your life out of spending,... Read More

The Easy Way To Gain Access To Your Free Online Credit Report

When you apply for credit, those lending you the money... Read More