A CLIENT of mine said he never saw it coming. Everything he ever wanted in life, he always purchased on credit. The “pre-approved” credit cards just kept coming in the mail and he never said NO to any of them. Buy now and pay later, why not? As long as they allow you to pay in installments, just charge it.
When the time came he was able to save a little bit of money for a down payment on a house, he purchased the biggest house he could buy because the bank gave him an “interest only” loan for 5 years. Of course, he also had to buy a nice car to go with the house- it looked great in his driveway. He thought he was living the “American Dream”.
Everything seemed OK until one day, my client lost his job of 15 years. He thought he “owned” everything he had until he found himself scrambling just to keep from losing it all. That’s when reality hit him like a ton of bricks- He realized that he actually owned NOTHING and that the banks actually owned EVERYTHING. The moment he could no longer pay, they took everything away.
Have you become a prisoner of debt? See, as long as you owe people money, they actually own you- until you pay your debt. A lot of people who come to me for help tell me that they just want to live a better life and build wealth so they can be financially free one day. But see, it is impossible to save any money when you have excessive debt hanging over your head.
A government study shows that 95 precent of the population will actually never achieve financial independence. That’s almost everybody! Yes, 95 precent of all the people in this country, at the age of 65, will end up depending on the government, charity or their families or they just need to keep working until the day they die!!! Can you believe that? Is this the kind of life you want to live?
I know how stressful life can be when you are in debt. For the last 14 years, I have counseled thousands and thousands of people whose lives have been wrecked by debt problems. If you are currently in debt and have been honest with yourself, don’t be afraid of taking a reality check and seeing exactly where you are at the current moment.
Face the cold hard facts now and figure out a way to get out of debt- the sooner, the better. Some people may find that they have no other way out but to file bankruptcy and start over. Some may find that bankruptcy is not necessary and other options are available. Before you can build up personal wealth, you must eliminate all the debts that are hindering you from planning for the future. If you do the opposite of what everyone else is doing, there’s a good chance you will be right.
If you’re struggling with debt, you may need professional help in finding a solution. For a free consultation, call Toll-Free 1-866-477-7772. We have offices in Pasadena, Cerritos and Valencia.
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None of the information herein is intended to give legal advice for any specific situation. Atty. Ray Bulaon has successfully helped thousands of clients in getting out of debt. For a free attorney evaluation of your situation, please call Ray Bulaon Law Offices at TOLL FREE 1 (866) 477-7772.