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CONTACT |
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99 Fifth Avenue, Suite 8,
Ottawa, Ontario
Tel: (613) 567-6434 |
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Home
> Bankruptcy Resources
> Consumer Debt Traps |
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Consumer Debt Traps |
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With your consumer debts discharged by bankruptcy, you have a golden opportunity not to fall back into the debt trap. This may be tough for these reasons:
- You will need to build new tracking, saving, and spending habits.
- There is a huge amount of money spent on convincing you to buy things that you don’t actually need but now find that you want.
- Even after bankruptcy, most people are offered credit within a year or two (at very high interest!).
- We live in a very image and brand name society, where there is a lot of pressure to fit in by owning the right stuff. If you watch TV, success is defined by what you own, rather than who you are and how you act in the world.
- Low introductory pricing on cell phones and internet can build usage habits that become very expensive a few months later when the regular rates kick in.
- No money down financing on tempting toys throws many people into financial crisis when it’s time to start making payments.
IN THIS SECTION
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