29 July 2009

Debt Elimination - Do It Now

No one anticipated this global recession to be the Great Depression of our time. Numerous known companies have already folded. Mass lay-offs is occurring here and there. Unemployment rate escalate to a scary level. Available jobs are scarce. Banks are not lending money and interest rates given to loans or credits are going berserk.

Most of us have debts to settle. The amount varies from one's need to the other. Expatriates here in the Middle East have loans to pay and the bills are piling. Before the onset of the recession, the banks here were too generous in giving out loans and the expatriates took the bait. However, most of the people lost their jobs and are having difficulty in fulfilling their aim of debt elimination.

As debtors, we must familiarize ourselves to the debtors rights. Our credit score must be protected as well by the lenders. I have heard horror stories about some friends who have to dodge the collectors because of their inability to pay on time. These collectors can be very relentless so even if we owe the lenders, we should know our rights as well.

No one wants to be stuck here forever paying for the debts they owe the banks and financial lenders but they have to commit. Eliminate your debts now and see how that can be achieved at www.debtelimination.net.

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