Debts

Debts have a way of blind-siding you. Find out where your debts come from.

Debts - Where Do They Come From And How Do I Get Rid Of Debt?

All About Debts

The Debt Lady only has one purpose in life and that is to educate on all matters debt-related. I want to teach you, take you under my wing and give you hope. Where did all these different debts come from? How can I consolidate debts? These are the questions I often hear. Well, it is my duty to provide a financial shoulder to cry on. Sometimes I feel almost like the Debt Mom instead of the Debt Lady.

From Ms. Lady To Debt Lady

These debts often sneak up on us, despite receiving monthly statements. We often overlook and underestimate our spending. I don't want to make a gross generalization and say that most people are bad with their money, but when you take into account the staggering number of individuals in debt, you have to conclude that no one knows what they are doing. Including me. I wasn't always the all-knowing. I was once a regular lady. After years in the industry, and after encountering my very own debts, I decided to legally change my name to the Debt Lady.

Where Do They Come From?

So, you want to know where all these debts come from? The most obvious indication is the credit cards. Credit card debts are so common in this day and age. Too many people have credit cards and don't really know how they function. Either that or they don't read all the fine print. The biggest mistake we make is paying the minimums. When we pay these small portions, the interest rates sneak up on us. We buy a $1,000 entertainment center and pay $50 a month for almost five years. Next thing you know, including interest rates, you wind up paying $4,000.

There are some expenses that are unavoidable. We often encounter emergency medical bills. We often run into a death in the family and have to place certain purchases on the credit card.

A lot of people pay back loans on their cards. I remember when I was attending Debt Lady University, I put all of my loans on the old credit card. These are understandable expenses, if you monitor them and do your very best to pay more than the minimums. And always be conscious of the interest rates and the fine print that follows. With a little basic knowledge, you too can become debt free without having to approach professionals to help consolidate unsecured debts. Continue looking through my site and find every answer to every question you could possibly have.

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