The emotional side of being behind on debt…
There really aren’t any forms of education that are provided via high school and college to prepare people for what to do when they fall behind on their finances.
When seeking assistance with your debt, this lack of knowledge poses great dangers to you.
And when you combine the lack of knowledge with your strong emotional desire to find a solution quickly, it’s very common to end up making the wrong decision.
This is because your only real concern right now is to find a solution, quickly.
You’re in unfamiliar territory and you don’t like it.
And all you have on your mind is finding a program that will lower your monthly payments to the point to where you can afford them.
However, there is much more for you to consider…
Some debt relief options are adversarial, while others are not.
For example, if you elect to enroll into a long-term debt settlement program, the program will call for you to discontinue your monthly payments to your creditors.
So when you’re quoted a monthly payment, the program requires you to save and accumulate those monthly payments, instead of directing those funds to your accounts.
Your accounts will be unresolved. And they will remain that way until they’re settled.
Which means some of your accounts could be financially ignored for years.
It is important that you understand the potential consequences you will be exposed to when using this approach.
It is even more important to think about the emotional and psychological impact you will endure.
When you’re behind on your bills, expect to be under a certain amount of stress until you resolve your delinquencies.
The stress you will experience while participating in a long-term debt settlement program will be incremental. The reason is that as you become more delinquent, your creditors become more aggressive.
This aggressiveness will amplify your stress and begin to impact other areas of your life. And some personalities handle this stress better than others.
So in this article my goal is to provide you a way to view your different debt relief options with your personality traits in mind.
Its purpose is to help you distinguish which options are in your comfort zone.
Why the emotional and psychological impact must be considered when debating your debt relief approach…
I was in collections for about 7 years before I started Debt Relief A La Carte back in 2002. Combined, I’ve been helping people through their debt problems for over 20 years.
If someone asked me how many people I’ve spoken with about their debt, between my time in collections and in debt settlement, I’d guess around 30,000 people.
The equivalent of a medium-sized town.
I’ve seen it all. But for the most part, there is one common theme among them –
THEY DON’T KNOW WHAT TO DO!
Consumers who are behind on their bills are like deer in headlights.
Have you ever spent the night at a friend or family member’s house, awakened in the middle of the night, and it was pitch black?
Do you remember the emotion you felt? Do you remember how lost you were? Since you couldn’t see and you weren’t familiar with your surroundings.
Now imagine this experience with a mean, moody, unfamiliar dog in the house.
It’s not a fun situation to be in. And for consumers who are behind on their bills this is just the tip of the iceberg.
What’s worse, these emotions aren’t experienced for a short time while they wait for their eyes to adjust.
These are long-term emotions that are generally experienced until resolution is accomplished.
Which means for many, we’re talking years.
Matching your personality with your debt relief options…
There are four core personalities and they all handle stress a little differently.
Every human on Earth could be defined by just one of the core personalities listed below. Please understand, we all possess some of the traits from all of the listed personalities; I’m referring to the one that dominates the others and defines you.
When you’re behind on your debt, it is really important to look yourself in the mirror and ask yourself which of these personalities you are.
Click your personality to become familiar with your best options…
Or, skip to the conclusion of this article, so you may learn about what steps to take in order to determine your best debt relief options for your specific situation.