Europe’s Financial Crisis Leads to Suicide Surge
The harsh spending cuts introduced by European governments to tackle their crippling debt problems have not only pitched the region into recession — they are also being partly blamed for outbreaks of diseases not normally seen in Europe and a spike in suicides according to the AP.
The report goes on to say that the “worsening health was driven not just by unemployment, but by the lack of a social welfare system to fall back on. People need to have hope that the government will help them through this difficult time”.
I think that it is “nice” to have public assistance programs available for the truly needy. There is however something inherently wrong with these social programs. I believe these programs promote government dependency.
A growing dependency of government is what got us into so many of our problems, and what is our own government doing? They are promoting that very dependency. Instead of raising people up, we are keeping them down. We are creating a generational dependency on social programs.
According to the 2012 Index of Dependence on Government more people than ever before—67.3 million Americans, from college students to retirees to welfare beneficiaries—depend on the federal government for housing, food, income, student aid, or other assistance.
Once considered to be the responsibility of individuals, families, neighborhoods, churches, and other civil society institutions, Americans are looking to the government to take care of them.
The ethic of self-reliance joined with a promise to the brotherly care of those in need appears threatened, well nearly absent in today’s society. There was a time, before all of the social programs, when people took care of each other. If you were having trouble the first thing you did was —anything you could — to get back on your feet.
There was no sitting around waiting for the government to come to the rescue. Your church, or family or friends helped out, and you helped others when they were in need. We took care of ourselves without a dependency on the government.
Our social programs including Social Security, Medicare and Medicaid are unsustainable in their current form.
Over the next 25 years, more than 77 million baby boomers will begin collecting Social Security checks, drawing Medicare benefits, and relying on long-term care under Medicaid. There will be no event so financially challenging to these programs over the next two decades than this shift of boomers into retirement.
More than 70% of Federal spending goes to dependency programs.
With so many Americans on or soon to be on the government dole and nearly half of all Americans not paying income taxes, there is no way we can pay for all of this and our spending will spiral out of control (it’s almost there now). With an increase in recipients and a decrease in the number of workers left paying for these programs, we will soon reach our fiscal tipping point much as other countries have already, and this will put us in a certain domestic debt crisis of our own.
In doing research for this article I have found no evidence that Americans are suffering a rise in medical ailments and suicides. But we have not quite reached the same crippling financial problems as our friends across the pond.
…but trust me when I tell you, it’s coming.
Careful Consolidation can Resolve your Debt Woes
Yahoo News — If you have racked up a lot of debt on credit cards, loans and overdrafts, then you may need a quick-fix solution.
If you are scared to death to look at your checkbook balance, you avoid opening bills, you are late on making payments to creditors and you never answer the phone at home, you might consider debt consolidation.
Essentially, debt consolidation combines all of your debts into one loan so you only have to make one payment. This idea might sound appealing, but it has its disadvantages as well as advantages. To determine if debt consolidation makes sense for you, take a look at these facts.
There are a few ways that exist to get funding to consolidate, and pay off, your debts. One of them involves working with a debt consolidation firm. It is true that you can consolidate your debts on your own, too, and pay off debt but it sounds easier than it is. It is best to let a professional like DebtHelper.com, who has experience and knows the ins and outs of the industry, handle your debt management.
Some people look to refinancing or borrowing against their homes as a route toward debt consolidation. Refinancing your home and taking cash out can help pay down high-interest debt, and can be tax-deductible, but carries risk. What I don’t like about refinancing to pay off debt is that you have now financed your debt for usually 30 years. Don’t you think you could come up with another alternative to paying off high interest debt? Again, if you find yourself in this situation, seek the advice of a professional that helps get people out of debt. A loan officer who sells refinances is likely not your best resource for honest advice on curing your debt problem.
If you do end up refinancing your home make sure that there is no possibility of missing a payment. The last thing you want is to face foreclosure because you transferred too much unsecured debt to secured debt. (Unsecured debt is not supported by any type of collateral or asset, and it includes debt from medical expenses, credit cards and utility bills.)
With a home equity loan or line of credit, you borrow against your home’s equity.
With a home equity loan or line of credit, you will borrow against the equity in your home in order to pay off those bills. However, you of course have to put up your house as collateral. This is essentially a second mortgage on your home. This means, just like a normal refi, you could lose your home if you are unable to make the payments. Plus, if your home’s value drops, you will likely be upside-down and you may not be able to pay back all the money you owe if you sell your home.
Some people like to find a low interest rate credit card with a credit limit large enough to cover all of their other debt and use that to pay stuff off. This is a wreck waiting to happen. Chances are that if you got yourself in trouble with your other credit cards, something will come up and you will use this new, larger limit card, and increase your debt even more.
You must at all costs, avoid adding to the mountain of debt.
Debt consolidation can make things easier for some people by helping to make payments on-time. But it does not address issues like overspending and poor budgeting – issues that, for a lot of people is what created the original debt problem. If you choose debt consolidation, you must also educate yourself and change your way of managing your money and dealing with debt.
If you are currently past due or overwhelmed with your debt situation, seek the advice of a professional.
The professionals at DebtHelper.com can explain the benefits of a debt management program and provide you with a fresh start.
One of the biggest long-term benefit of the debt management plan is the reduction in interest. Reduced interest allows you to pay off your principal balances faster while saving you possibly thousands of dollars in finance charges.
In order to determine if you are eligible for a debt management program, you can fill out an online budget application form now and then you can contact one of their Certified Personal Finance Counselors© at (800) 920-2262.
DebtHelper.com can currently accept clients from the states listed here. DebtHelper.com is licensed, insured and complies with all state licensing requirements to ensure mandated regulations are followed. They are diligently working on becoming licensed in every state and are opening new states monthly.
Please call (800) 920-2262 if you have any questions. DebtHelper.com’s consultations are free, call them any time.
Little Known Database That Helps Debt Collectors Call You at Work
…The Surprising Way Debt Collectors Know Where You Work
BusinessInsider.com — It is “perhaps one of the most powerful and private databases of American’s personal information ever created, containing 190 million employment and salary records, covering more than one-third of US adults.”
So there is this site called The Work Number and basically what they do is employment verifications for employers. That sounds OK right? Well, it is. It keeps companies from having to spend time verifying employment, they just outsource the job. One catch however, is that the company is required to provide The Work Number with weekly salary and employment information. So to make this requirement easy to handle, most companies provide The Work Number with access to their HR database directly.
What this means is that The Work Number has the work and salary history of millions of Americans. You might think that this is no big deal, after all they have to do employment verifications, and they need that information. Here’s the problem, The Work Number is owned by Equifax, one of the big 3 of credit reporting agencies, and they like to sell information, and sell they do. They market directly to debt collectors.
…ever wonder how the bill collector got your work number? Well, there you go.
Are debt collectors allowed to call you at work? Yes and no. Let’s take a look at some of the things the bill collectors can and can’t do. Keep in mind that what applies to debt collectors doesn’t always apply to the creditor who is trying to collect their own debt.
- FDCPA (Fair Debt Collection Practices Act) is what regulates debt collectors and their practices.
- Third party disclosure — debt collectors are prohibited from disclosing or discussing your credit or debt, with any third party. There are exceptions however, they may talk to your attorney, a credit reporting agency and the original creditor. They can also contact your spouse or your parents if you are a minor.
- Debt collectors are not allowed to contact you at unusual or inconvenient times or places. Typically the time to make calls is between 8 a.m. and 9 p.m.
- They are not to contact you if you have an attorney or other agency handling your debt.
- They may contact you at work unless, your employee prohibits calls at work or you advise them that you cannot receive calls at work, it’s best that you send a letter to that affect.
- They may not harass or threaten you. Specifically they cannot:
- Threaten violence
- Any harm or threaten to harm you or another person’s reputation or property
- Use profane or abusive language
- Call you repeatedly, or
- Make calls to you without identifying themselves as bill collectors
- Collection companies are not allowed to add interest of fees or charges that are not authorized by the original agreement or by state law
- …and many others
There is one tried and true method to get the debt collectors off of your back… pay your bills! I know it sounds easier than it is. If you find yourself overwhelmed with debt the best thing to do is contact a professional to help you get your life back.
If you are currently past due, the benefits of a debt management program will provide you with a fresh start. The biggest long-term benefit of the debt management plan is the reduction in interest. Reduced interest allows you to pay off your principal balances faster while saving you possibly thousands of dollars in finance charges.
In order to determine your eligibility you can fill out an online budget application form Now and then you will speak with one of our Certified Personal Finance Counselors © at (800) 920-2262.
DEBTHELPER.COM 