Here at DebtDirect.org, we are devoted to providing over-extended consumers with the tools and information they need to get out of debt and stay out of debt. Debt management is not only a plan to improve your financial situation; it is a life change for the better.

Why are we so committed to helping you manage your debt? We know that mounting debt affects more than just your wallet. Increasing short-term debt touches every aspect of your life. It robs you of your money and affects your life.

How Your Total Debt Affects Your Life

• It determines what you do with your time; the number of hours you work and play each week, and the amount of time you spend with your friends and family.
• Debt dictates how you spend your money, how often you help others, and how much you give to charities and community services.
• It directs your future and the decisions you make every day, from passing up an opportunity to further your education to how many children you have.
• For many, your total debt also determines your attitude. Chronic debt can lead to depression, depreciated self-worth, anger, pessimism, and a loss of hope. Debt is oppressing. It can also adversely affect your physical health and well-being.
• It affects the relationships that are the most important to you. Financial strife often leads to marital discord or divorce.
• Financial problems and increasing short-term debts can inhibit your spiritual growth. Debt makes your money the focus of your attention instead of your beliefs. In an effort to control or alleviate mounting debts, many consumers resort to actions that violate their personal code of ethics or their spiritual beliefs.

Debt Management Myths

The public is confused about finances. This chronic confusion leads to greater levels of debt, increased bankruptcies, and monumental levels of frustration and helplessness.

1. Myth: One common debt management myth is that filing for bankruptcy is the only option for consumers with mounting short-term debt. These same people often believe that filing for bankruptcy will wipe their financial slate clean- giving them a fresh start. Both of these beliefs are false. Bankruptcy affects your credit for years and is not the best solution for most consumers. You have many different options available to help you manage your consumer debt.
2. Myth: If you just earn more, you can manage your debt. Increasing your yearly income will not get you out of debt if you continue to have poor financial habits. If you do manage to pay off your short-term debt, failure to change your financial habits will result in accumulating debt repeatedly.
3. Myth: Earning a higher salary or adding a second or third income will allow you to get out of debt and become wealthy. Income and wealth are different. Wealth is income that is stored. Your spending rate, not your net income, determines your wealth.

Do not believe the myths. You have options to manage your debt. Help and hope are within your reach. Arm yourself with the tools and knowledge necessary to take your life back from your debt.

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